Mirasol Resources Ltd (CVE:MRZ) (OTCPINK:MRZLF) (FRA:M8R) announced a new high-grade silver discovery at the Ely Central target on its Virginia project in Argentina.
Drilling in the area returned results of 9.98 metres (m) at 560 grams per ton (g/t) silver, which included 2.87m at 1,578 g/t silver.
Other intercepts from Ely Central included 9.6m at 639 g/t silver and 10.8m at 625 g/t silver, including 5.7m at 1,110 g/t silver.
READ: Mirasol Resources commences new 2,700 metre drill program at Virginia silver project in Argentina
The discovery occurred during Mirasol’s Phase 2 drilling program at the target, which included 20 core holes totaling 3,104m. A total of 38 holes were drilled for 5,935m during the current field season at Virginia.
The program is funded by Mirasol’s option partner Silver Sands Resources Corp (CSE:SAND) (OTCQB:SSRSF).
“We are excited with the results from this Phase II drill program completed at Virginia,” Mirasol CEO Tim Heenan said in a statement.
“The Ely Central discovery confirms that through further drilling, new high-grade zones can be identified, and this supports the potential to significantly increase the resource base at Virginia.”
The junior resource firm is planning an “aggressive” Phase III drill program to start late in the third quarter of 2021, Heenan added.
Vancouver-based Mirasol has reported significant intercepts at the Ely Central, Ely North, Martina NW and Julia South targets, confirming that the potential for new mineralization to be defined in the system.
The system currently hosts a NI 43-101 indicated mineral resource of 11.9 million ounces of silver at 310 g/t silver and a further inferred resource 3.1 million ounces of silver at 207 g/t silver.
Contact Angela at [email protected]
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Story by ProactiveInvestors
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