series of new drill targetsVANCOUVER, Oct. 20 /CNW/ - Mirasol Resources Ltd.
(TSX-V: MRZ; Frankfurt:
M8R) Mirasol is pleased to announce that a series of new drill targets have
been outlined by an MT (audio magnetotelluric) geophysical survey undertaken
at its 100% owned Libanesa Project in Santa Cruz province, Argentina.
Libanesa is a silver-gold (lead) project, discovered and staked by
Mirasol geologists in 2005. Systematic surface exploration by Mirasol included
rock sampling, geological mapping, MMI (mobile metal ion) soil sampling,
trenching, ground magnetics and conventional electrical geophysics (see news
releases of Feb. 27, 2009 and July 21, 2008). Mineralization is associated
with a series of veins, structures and the +50 metre diameter Cerro Plomo
hydrothermal breccia that extends under a small dry lake. Rock chip sampling
by Mirasol returned multiple, high-grade silver assays in the range of 1,000
to 3,910 grams/tonne (g/t), commonly accompanied by 0.1 to 3.5 g/t gold.
Trenching at Cerro Plomo returned consistently mineralized intervals of tens
of metres of anomalous silver, gold and locally, high-grade lead values.
Previous electrical IP geophysical surveys at Libanesa were hampered by
the salt pan (dry lake) adjacent to Cerro Plomo, due to a surface covering of
highly conductive clays which can effectively mask targets at depth. MT is a
passive geophysical technology which uses natural earth "telluric" electrical
and magnetic currents to measure resistivity in the earth's crust and so can
overcome the effects of near surface clays. The MT survey was conducted and
processed by Zonge Chile.
Two 1,100 metre MT lines were surveyed 200 metres apart and were designed
to cross Cerro Plomo and to test a covered area to the east with potential for
concealed mineralization.
At Cerro Plomo, a mineralized hydrothermal breccia of at least 50 metres
in diameter is exposed at surface (Figure 1). The MT survey shows a 250 metres
long conductive anomaly beneath Cerro Plomo (Figure 2), which may be
interpreted to mark the continuation to depth of the outcropping breccia.
In addition, approximately 200 metres east of Cerro Plomo the MT survey
has identified a second anomaly that is approximately 200 metres in length and
is more conductive than the anomaly below Cerro Plomo. This conductor lies
beneath a silver-gold-lead-zinc MMI soil anomaly and may indicate a second
blind breccia body. The silver-gold vein material encountered at the adjacent
NE Zone prospect may represent veining peripheral to the covered target.
At the west end of the MT survey, a pair of conductors flanking a
resistor were detected on both lines. The anomalies are northwesterly
trending, tabular in shape and steeply dipping suggesting a vein or a dyke
with a mineralized halo. Surface sampling in the vicinity has returned 18 g/t
gold from a gossan and silver assays to 211 g/t from quartz vein blocks.
Mirasol's management are pleased with the results of the Libanesa MT
survey that has transformed the Libanesa precious metals project from a series
of prospective prospects with intriguing surface assays into a project with a
number of viable drill targets with significant tonnage potential. A drill
program is being designed to test the targets. Mirasol is actively seeking a
joint venture partner to advance the Libanesa project.
Paul Lhotka, P. Geo., Principal Geologist for Mirasol, is the Qualified
Person under NI 43-101 who has prepared and approved the technical content of
this news release.
Quality Assurance/Quality Control: Exploration at Mirasol's Projects is
supervised by Stephen C. Nano, Vice President of Exploration; Exploration
Manager, Timothy Heenan; and Principal Geologist, Paul Lhotka, all qualified
persons under NI 43-101. All technical information for the Company's projects
is obtained and reported under a formal quality assurance and quality control
(QA/QC) program. Rock chip and stream sediment samples are collected under the
supervision of Company geologists in accordance with standard industry
practice. Samples are dispatched via commercial transport to an ISO
9001:2000-accredited laboratory in Mendoza, Argentina for analysis. Results
are routinely examined by an independent geochemist to ensure laboratory
performance meets required standards.