Mirasol Resources Ltd. (TSX-V: MRZ) announced this morning the drill results from the Virginia Silver Project, located in Santa Cruz province, Argentina. The results, including intersects of 625.0 g/t silver over 10.8 metres, give the company a reason to believe that a new high-grade zone has been discovered at the Ely Central target of the site.
Highlights of the drill results announced today include:
- EC-DDH-005: 625.0 g/t silver over 10.8 metres, including 1,110.0 g/t silver over 5.7 metres
- EC-DDH-004: 639.0 g/t silver over 9.6 metres, including 657.0 g/t silver over 9.3 metres
- EC-DDH-003: 560.0 g/t silver over 9.98 metres, including 1,578.0 g/t silver over 2.87 metres
The company believes it has discovered a newly emerging 200-metre open-ended strike length of high silver mineralization zone. The location lies within the gap of 580 metres that was left untested when Mirasol Resources first drilled at Virginia Silver in 2012.
According to Mirasol Resources, the new mineralization zone indicates the potential for further expansion of the resource at the property. The property currently contains a mineral resource of 11.9 million silver ounces at 310.0 g/t silver and a further inferred resource of 3.1 million silver ounces at 207.0 g/t silver.
The results come from the company’s phase II diamond drilling program which comprised of 20 core holes. This program is being funded by Silver Sands Resources Corp. (CSE: SAND) under an option-to-purchase agreement that would see Mirasol retain a 19.9% ownership in Silver Sands.
Mirasol Resources Ltd. last traded at $0.48 on the TSX Venture.
Information for this briefing was found via Sedar and Mirasol Resources. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.