🕐21.09.10 - 08:54 Uhr

Mirasol Discovers Multiple New Silver Veins at the Virginia Vein Zone, Argentina





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Mirasol Discovers Multiple New Silver Veins at the Virginia Vein Zone, Argentina

VANCOUVER, BC, September 15, 2010 - Mirasol Resources Ltd. (TSX-V: MRZ, Frankfurt: M8R)is pleased to report results from the 100%-owned Virginia Vein Zone in southern Argentina. Exploration has previously focused on the Julia Vein as well as the nearby Ely, Margarita and Naty veins, which host high-gradesilver values over significant widths and strike lengths (see press releases of Feb. 16, 2010 and June 07, 2010). Current exploration highlights the discovery of additional silver-bearing veins, the Roxane, Martina, Priscila and Magi veins. Assay results show significant silver grades in all new veins including assays up to 2,880 g/t silver from the Roxane Vein.

The four new veins host important silver mineralization and substantially increase the cumulative strike length and footprint of veins at the Virginia Vein Zone, which now exceeds 9,600 metres (Figure 1 ).

Mapping and sampling of the Virginia Vein Zone is now complete for the 2009-2010 field season. Drill targets are being identified and prioritized based on the geology, assay results and geophysics completed. Environmental permitting for drilling is well advanced. It is the intention of Mirasol management to undertake the first round of drilling at the Virginia project during the southern hemisphere summer.

Technical Discussion

Assays reported here include channel and rock chip sampling from the Roxane, Martina, Priscila and Magi veins. Saw-cut channels were selected by Mirasol geologists to give a systematic test along strike where distribution of outcrop permits.

Twenty-four rock chip samples of the Roxane Vein (Figure 2 ) returned assays which range from 103 to 2,880 g/t silver with an average of 1,039 g/t silver (Table 1). The Roxane Vein is adjacent to and parallels the central segment of the high-grade Julia Vein that also hosts multiple channel samples with values exceeding 1,000 g/t silver.

The Roxane Vein, as known to date, is defined by a northwesterly trending zone of aligned float blocks up to 0.7 metres wide that can be traced for a strike length of 590 metres (Figure 2). The true width of the vein is unknown; trenching and/or drilling will be required to determine the veins grades and widths. Veins material is composed of fine-grained, massive to banded saccharoidal quartz with abundant iron oxides including specular hematite and occasionally minor galena.

Table 1. Roxane Vein Rock Samples - Compiled Results

Channel ID Sample Type Sampled Length (m) Silver (g/t) 1 Lead (%) 2 MRR09578 float select 0.20 591 0.44 MRR09579 float select 0.15 367 0.16 MRR09570 float select 0.15 2,630 3.21 MRR09568 float select 0.20 522 6.04 MRR09567 float select 0.10 2,020 0.18 MRR09566 float select 0.10 1,515 0.43 MRR09565 float select 0.20 436 0.11 MRR09564 float select 0.15 936 0.10 MRR09563 float composite Not applicable 1,055 0.23 MRR08991 float select 0.25 581 0.11 MRR08990 float select 0.10 323 0.62 MRR09562 float select 0.30 1,925 3.77 MRR09573 float composite Not applicable 2,880 0.06 MRR08988 float select 0.30 2,670 0.74 MRR08764 float composite Not applicable 2,275 0.51 MRR08989 float select 0.20 879 0.10 MRR09583 float select 0.25 902 0.20 MRR09590 float select 0.15 129 0.08 MRR08992 float select 0.20 352 0.12 MRR09591 float select 0.10 115 0.21 MRR09560 float select 0.20 172 0.10 MRR09561 float select 0.10 1,305 0.71 MRR08758 float composite Not applicable 259 0.15 MRR08755 float composite Not applicable 103 0.25 Minimum 103 0.06 Maximum 2,880 6.04 Average 1,039 0.78

Notes: All analyses done by ALS Chemex Laboratory.
1. Silver results are by Ag-GRA21, a fire assay collection method with gravimetric finish
2. Lead results to 10,000 ppm (1%) are by ME-ICP41 with over values >1% by Pb-OG46
3. Gold assayed by Au-AA24, a fire assay collection method with atomic absorption spectroscopy finish. Gold values for the channel composites range from <0.05 g/t to a maximum of 0.46 g/t and hence are not tabulated.

The Priscila Vein is northeast trending and has been traced in outcrop and subcrop over a strike length of 410 metres (Figure 2). Sampling comprises both saw-cut channels and rock chips. The Priscila vein is up to one metre in width, composed of chalcedonic to fine grained saccharoidal quartz containing abundant iron oxides. Assays to date have returned silver up to 104 g/t.

Table 2. Priscila Vein Channel Composites - Compiled Results

Channel ID Sampled Length (m) 1 Unsampled Gaps
(m) 2 Gaps as % of Total Length Total Length
(m) 3 Silver (g/t) 4, 5 Lead
(%) 4, 6 EV-390067 0.95 0.24 20% 1.19 74 0.16 EV-38981 0.93 0.15 14% 1.08 77 0.06 EV-38963 0.52 0.00 0.52 93 0.03 EV-38840 0.12 0.00 0.12 104 0.18 Length Weighted Average Channels = 0.73 80 0.10

Notes: All analyses done by ALS Chemex Laboratory.
1. Sampled length is the actual true width that was sampled.
2. Unsampled gaps is the cumulative length of any gaps in outcrop which were unable to be sampled. See Technical Appendix of March 4, 2010 press release for details.
3. Total length is the sum of the actual sampled outcrop plus any gaps which could not be sampled.
4. The length weighted silver, gold and lead averages are based on the sampled width not the total length and all values are uncut (i.e. no grade capping has been applied)
5. Silver results are by Ag-GRA21, a fire assay collection method with gravimetric finish
6. Lead results to 10,000 ppm (1%) are by ME-ICP41 with over values >1% by Pb-OG46
7. Channels so marked have sampling gaps greater than 20% of their total length. See Technical Appendix of March 4, 2010 press release.
8. Gold assayed by Au-AA24, a fire assay collection method with atomic absorption spectroscopy finish. Gold values for the channel composites range are all <0.05 ppm.

The Martina Vein is located north of the Priscila Vein, is 400 metres long with a sinuous strike ranging from northeasterly to northwesterly. To the northwest the vein is covered by a soil-filled valley (Figure 2). Subcropping and outcropping veins on the north side of the valley may be the continuation of the Martina Vein. Grades of the channel sample composites increase towards the northwest nearing the soil-filled valley. Table 3 shows the average grade of 19 channel composites from the Martina Vein is 110 g/t silver, however the northernmost 6 channel composites have an average grade of 248 g/t silver. In the higher grade segment, channel samples were mainly collected from subcropping blocks with widths of 0.11 to 0.89 metres. The true width of the vein is uncertain. Typically the vein is comprised of chalcedonic to fine grained saccharoidal quartz with abundant iron oxides.

Table 3. Martina Vein Channel Samples - Compiled Results

Channel ID Sampled Length (m) 1 Unsampled Gaps
(m) 2 Gaps as % of Total Length Total Length
(m) 3 Silver (g/t) 4, 5 Lead
(%) 4, 6 MT-39706 0.65 0.00 0.65 335 0.12 MT-39664a &



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