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Mirasol Resources discovers new silver vein in Argentina, grades reach 2,660 g/t silver

Mirasol Resources (TSX-V: MRZ, Frankfurt: M8R) has discovered a new silver vein called Julia in the Virginia vein zone on its wholly owned mineral property in Santa Cruz province in Argentina.

The vein was discovered while following up alteration and structural targets during November 2009, with there are no indications that it had ever been previously prospected or sampled. Assay results for the Julia vein are pending for other nearby vein structures found subsequently.

Thirty rock chip samples from outcrop, subcrop and float of the Julia vein were collected and returned silver values of between 21.9 and 2,660 g/t (grams per tonne) silver. Gold values range from less than 0.01 to 0.14 g/t.

The average silver grade of the initial 30 samples is 645 g/t, or18.8 troy ounces per short ton, but sampling indicates that segments of the vein may contain higher silver grades, perhaps over 1,000 g/t silver.

The company said that further exploration will be required to determine what the average grade of the vein may be and if there are higher grade shoots within it.

“We are optimistic that the work completed in December will further advance the Julia vein and the potential of newly identified peripheral veins. Mirasol intends to continue exploring the Virginia vein zone for its own account and is planning additional work in early 2010,” said stated |president of Mirasol Mary Little.

The company’s property is located within the area of special interest for mining in the Santa Cruz province, where mining development is permitted and four precious metal mines are in operation.

Disclosure: I do not hold a position