Mirasol drills 0.98 g/t AuEq over 26 metres at Libanesa, Argentina
Mirasol Resources Ltd. [MRZ-TSXV; MRZLF-OTC] reported encouraging drill results from the maiden drill program at the 100%-owned Libanesa gold and base metals project in the province of Santa Cruz, Argentina. Based on an evaluation of the Libanesa data it is evident that several prospective targets require follow-up drilling.
“Results from the maiden 1,780-metre drill program confirm that we have only scratched the surface of an exciting exploration program at the Libanesa Project. The very broad intersections of high-grade base metals suggest we are on the periphery of a stronger gold-silver zone at the Cerro Plomo target and the zinc and lead values reported could significantly contribute to the future economics of the project,” Mirasol’s President Tim Heenan stated. “The drill program was cut short due to weather conditions and there are clearly more quality targets left to drill test.”
Libanesa is a 14,500-ha gold-silver (lead-zinc) project discovered by Mirasol. It is located at the north-eastern margin of the Deseado Massif gold-silver metallogenic province, approximately 70 km west of the port of Puerto Deseado, 40 km northwest of the Cerro Moro Gold-Silver Mine operated by Yamana Gold and 100 km northeast of the Don Nicolas Gold-Silver mine operated by Cerrado Gold.
The project hosts two main prospective areas, Libanesa Main and the Lagunita Vein Field. Libanesa Main hosts the Cerro Plomo, Oculto, Traves del Sur, Bajo Aspero, Playa Vetas, Brecha Plata and the NE Zone prospects. Libanesa Main, and in particular Cerro Plomo, are more intermediate sulphidation in character while Lagunita is a classic gold-rich, low sulphidation epithermal vein prospect.
Libanesa Main – Cerro Plomo Prospect: Cerro Plomo has been the main focus of exploration to date. Results from recent drilling are considered encouraging with highly anomalous gold-silver and multi-percent lead-zinc values reporting from what appears to be the mineralized halo of a large vertical conductive zone mapped in 3D by MT geophysical methods. The hydrothermal eruption breccia exposed at surface at Cerro Plomo represents a position close to the paleophreatic surface level.
Cerro Plomo – Drill intersections of merit (Pb/Zn not included in the AuEq(75) calculation): DDH-LGA-003 at the Hydrothermal Breccia Zone returned 26 metres at 0.98 g/t AuEq75 (gold equivalent) (0.38 g/t gold & 44.7 g/t silver), including 10 metres at 1.43 g/t AuEq75 (0.64 g/t gold & 59.3 g/t silver) with 2.16% lead and 1.35% zinc.
DDH-LGA-001 at the Hydrothermal Breccia Zone returned 19 metres at 0.45 g/t AuEq75 (0.1 g/t gold & 26.8 g/t silver) with 1.3% lead and 0.35% zinc, including 5 metres at 0.88 g/t AuEq (0.10 g/t gold & 58.2 g/t silver) with 2.95% lead and 0.2% zinc.
DDH-LGA-003 at the Quartz – sulphide veinlet zone/halo returned 14 metres at 0.49 g/t AuEq75 (0.14 g/t gold & 26.4 g/t silver) with 0.6% lead and 0.57% zinc. DDH-LGA-002 at the Quartz – sulphide veinlet zone/halo returned 23 metres at 0.23 g/t AuEq75 with 0.3% lead and 0.5% zinc, including 6 metres at 0.39 g/t AuEq (0.10 g/t gold & 22.0 g/t silver) with 0.4% lead and 0.75% zinc.
Lagunita’s drill intersections of merit included DDH-LGA-011 that returned 7 metres at 0.84 g/t AuEq75 (0.78 g/t gold & 4.4 g/t silver), including 3 metres at 1.79 g/t AuEq75 (1.71 g/t gold & 5.4 g/t silver) and 1 metre at 4.30 g/t AuEq75 (4.20 g/t gold & 7.4 g/t silver) (no base metal content). DDH-LGA-010 returned 1 metre at 0.45 g/t AuEq75 (0.15 g/t gold & 22.9 g/t silver) with other secondary quartz vein structures.