| From: TheSlowLane | 3/3/2011 6:29:08 AM | | | | | | Minera IRL Announces Exploration Update, Escondido Project, Argentina
LONDON, UNITED KINGDOM and TORONTO, ONTARIO--(Marketwire - March 3, 2011) - Minera IRL Limited ("Minera IRL" or the "Company"), (TSX:IRL - News; AIM:MIRL)(BVLAC:MIRL) the Latin American focused gold mining, development and exploration company, announces an exploration update at the Escondido Project in Patagonia, Argentina. Assay results have now been received from 9 new widely spaced holes into the Northern Breccia trend.
Highlights:
-- Best intersections into the bulk tonnage target area include E-D10-020
with 33.5 meters grading 0.89g/t gold and 2.83g/t silver, including 10.2
meters of 1.83g/t gold and 4.45 g/t silver and E-D10-24 with 17.0 meters
grading 1.13g/t gold and 8.23g/t silver
-- A new IP Gradient Array geophysical survey east of the previous IP grid
has defined a highly encouraging resistivity and conductivity anomaly
along the untested 900 meter south-easterly trending extension of the
Northern Breccia trend
-- The next stage of diamond drilling into the Northern Breccia Zone, with
a program of approximately 4,000 meters, is scheduled to commence during
March 2011
Minera IRL Limited announced a new discovery in September 2010 at the Escondido Project, Santa Cruz Province, Argentina. Drilling identified wide zones of potentially bulk minable gold and silver mineralization, contiguous to Mariana Resources Las Calandrias Project. More encouraging assay intersections have now been received from the widely spaced second-pass scout drilling program carried out in December 2010. The drill program confirms that mineralization extends over almost 700 meters of strike from the northern tenement boundary and remains open-ended toward both the east and south-east.
Results have also been received from an extended IP Gradient Array geophysical survey which shows a wide resistivity anomaly over the remaining 900 meters of untested ground between the current drilling and the eastern boundary of the Escondido tenement block. A substantial, chargeability anomaly coincident with the resistivity has also been identified. The extended geophysics provides another excellent drill target for the 4,000 meter diamond drill program about to commence in March.
"The recent drill results provide a significant step forward in progressing our immediate objective of probing the limits of mineralization on the Escondido Northern Breccia trend" said Courtney Chamberlain, Executive Chairman of Minera IRL. "A new fence of holes to the south east has confirmed continuity of gold/silver mineralization along strike of a newly defined chargeability high within a broad resistivity geophysical anomaly. This confirms a strong probability for disseminated sulphide mineralization within a silicified zone giving us another excellent target for the pending drilling program."
Selected intercepts from the second pass Escondido scout drilling are tabulated below.
----------------------------------------------------------------------------
Intercept Assay - g/t
--------------------------------------------
Hole Gold Equivalent -
Number From To Meters Au Ag g/t(i)
----------------------------------------------------------------------------
E-D10-020 51.00 84.50 33.50 0.89 2.83 0.91
including 56.15 66.35 10.20 1.83 4.45 1.90
----------------------------------------------------------------------------
E-D10-022 10.00 62.45 52.45 0.64 9.51 0.80
including 26.00 29.45 3.45 3.53 26.37 3.97
----------------------------------------------------------------------------
E-D10-024 15.00 32.00 17.00 1.13 8.23 1.27
----------------------------------------------------------------------------
E-D10-027 20.60 65.00 44.40 0.52 1.79 0.55
----------------------------------------------------------------------------
E-D10-033 86.25 90.70 4.45 0.82 59.02 1.80
----------------------------------------------------------------------------
(i)Gold equivalent grade is calculated by dividing the silver value by 60
and adding this to the gold value.
Minera IRL considers that there are several significant findings in these results. Hole E-D10-024 confirms the presence of precious metal mineralization in a central area where results reported in September 2010 were weak. Gold and silver values from step out holes E-D10-027 and E-D10-033 suggest mineralization is open toward the south-east where extended geophysics has identified highly encouraging drill targets spanning over 900 meters.
Additional information on Escondido, including plans and drill sections as well as the extended geophysical images, can be found on the Minera IRL website www.minera-irl.com.
In addition, Minera IRL continues to advance the Don Nicolas feasibility study and is actively exploring a number of highly promising grass roots precious metal prospects that are also located within the 2,700 square kilometre lease holding in Patagonia.
Competent Persons Statement
The preparation of the technical information contained herein was supervised by Donald McIver, VP Exploration of the Company, MSc Exploration and Economic Geology, a Fellow of the Australian Institute of Mining and Metallurgy (AUSIMM), who is recognized as a Qualified Person for the purposes of National Instrument 43-101, and who has reviewed and approved the technical information in this press release.
Minera IRL Limited is the AIM traded and TSX and BVL listed holding company of precious metals mining and exploration companies focused in Latin America. Minera IRL is led by an experienced senior management team with extensive industry experience, particularly in operating in South America. The Group operates the Corihuarmi Gold Mine and the emerging Ollachea Gold Project in Peru as well as the advanced Don Nicolas Project in Argentina. For more information, please visit www.minera-irl.com.
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.
While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggestions herein. Except as required by applicable law or regulation, Minera IRL Limited does not intend to update any forward-looking statements to conform these statements to actual results.
Quality Assurance and Quality Control Procedures Disclosure
The Company has implemented and maintains a Minera IRL quality assurance/quality control (QA/QC) protocol on its projects to ensure best industry practice in sampling and analysis of exploration and resource definition samples. The insertion of field duplicates, certified standards and blank samples into the sample stream form part of the MIRL procedure (these act as an independent check on contamination, precision and accuracy in the analytical laboratory).
Assay results are reported once rigorous QAQC procedures have been approved.
Independent Audit Programs
Towards maintaining compliancy with international standards as they pertain to the minerals industry resource evaluation and estimation procedure, MIRL regularly contracts the services of industry experts to conduct detailed audits of established QAQC procedures.
The Toronto Stock Exchange neither approves nor disapproves the information contained in this News Release.
Contact:
Trish Kent
Minera IRL Limited
Vice President, Corporate Relations
+511 4181230
John Prior
Collins Stewart (Nominated Adviser & Broker, London)
Adam Miller
+ 44 (0)20 7523 8350
Geoff Nash (Corporate Finance)
finnCap (Co-broker, London)
Matthew Robinson (Corporate Finance)
Joanna Weaving (Corporate Broking)
+ 44 (0)20 7600 1658
Patrick Piette
TMX Equicom (Investor Relations, Canada)
+1 416 815 0700 ext 267
Simon Rothschild
Bankside Consultants (Financial PR, London)
Louise Mason
+ 44 (0)20 7367 8888
finance.yahoo.com |
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| From: TheSlowLane | 3/3/2011 6:48:57 AM | | | | | | Third New Epithermal Gold Zone at Las Calandrias Gold-Silver Project, Santa Cruz,
southern Argentina
Mariana Resources Ltd (‘Mariana’ or ‘the Company’), the AIM quoted exploration and
development company focused in Argentina and Chile, announces positive results from scout
drilling at the Nido Norte prospect, one of several key target areas at the Company’s 100%
owned Las Calandrias Gold-Silver Project (‘Las Calandrias’), located in the prospective
Deseado Massif gold-silver district in Southern Argentina. Sixty-two holes for a total of
9,650m have been drilled during this third drill campaign at Las Calandrias.
Overview
x Third epithermal gold zone discovered at Las Calandrias in the Nido Norte rhyolite
dome complex;
x Results from 12 exploratory drill holes within a 750m section of the 1.8km long La
Despreciada vein-breccia structure confirm the Nido Norte prospect as a prime target
for follow up drilling;
x Best epithermal vein-breccia intersections include: 26.3m @ 1.0 g/t Au and 8 g/t Ag
from 55m, 2.0m @ 3.9 g/t Au and 6 g/t Ag from 33m; and 2.2m @ 1.4 g/t Au and 59
g/t Ag from 106m;
x Mineralisation intersected along the La Despreciada vein-breccia structure is typical of an intact high level epithermal system and is centred on the large 2km x 0.6km Nido Norte rhyolite dome complex, possibly the largest in the dome field;
x Follow up drilling is now testing this 1.8km zone for higher grade targets at depth;
x Several prospective structures from ground magnetics provide new focus for Nido Norte and Calandria Norte type structure-hosted vein-breccia epithermal mineralization;
x Further assay results are awaited from scout drilling of other El Nido targets including Nido Sur and Gamekeeper prospects;
x Calandria Norte target – further bonanza silver intersections at La Morena Vein and high gold assays from La Calandria Vein were received with follow up drilling planned on both vein systems;
x Calandria Sur bulk tonnage target – exploratory drilling underway at the disseminated gold-silver discovery targeting subsurface rhyolite domes in the immediate vicinity of known mineralisation – maiden resource due by the end of April 2011.
Commenting today, Chairman John Horsburgh said, “These latest results from scout drilling
at the Nido Norte target confirm the prospect as a prime target for follow up drilling.
Mineralisation intersected is considered by Mariana geologists to be consistent with
the upper parts of a high-level epithermal precious metal system. Consequently, deeper
exploration drilling along the 1.8km Despreciada vein-breccia structure is underway to
further investigate the epithermal gold vein system and its bonanza grade potential.
Additionally, the structural setting at Nido Norte and Calandria Norte enhances the potential
of a number of unexplored structures across the dome field.”
Full release:
marianaresources.com |
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| From: TheSlowLane | 3/3/2011 6:55:26 AM | | | | | | Minesite article on IRL
March 01, 2011
A Recent Geological Love-In At Minera IRL Has Highlighted The Massive Untapped Exploration Potential Inside The Company
By Alastair Ford
Minera IRL has just reported the results of scout drilling on its Pan de Azucar gold-silver prospect on the Deseado massif in Argentina. On their own, these didn’t rock anybody’s world, as it turned out Pan de Azucar is relatively eroded, which is unusual for a vein structure in this part of the world. Even so, among the highlights was 3.25 metres at 5.81 grams per tonne gold and 5.55 grams per tonne silver, and 1.98 metres grading 3.51 grams per tonne gold and 8.28 grams per tonne silver. Furthermore, drilling on splays and associated mineralisation returned 1.1 metres at 5.10 grams per tonne gold and 650 grams silver. So, still a lot to play for, and much more work to be done.
Full article:
minera-irl.com |
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| From: TheSlowLane | 3/3/2011 7:29:45 PM | | | | | | Third New Epithermal Gold Zone at Las Calandrias Gold-Silver Project, Santa Cruz, southern Argentina
Mariana Resources Ltd ('Mariana' or 'the Company'), the AIM quoted exploration and development company focused in Argentina and Chile, announces positive results from scout drilling at the Nido Norte prospect, one of several key target areas at the Company's 100% owned Las Calandrias Gold-Silver Project ('Las Calandrias'), located in the prospective Deseado Massif gold-silver district in Southern Argentina. Sixty-two holes for a total of 9,650m have been drilled during this third drill campaign at Las Calandrias.
Overview
* Third epithermal gold zone discovered at Las Calandrias in the Nido Norte rhyolite dome complex;
* Results from 12 exploratory drill holes within a 750m section of the 1.8km long La Despreciada vein-breccia structure confirm the Nido Norte prospect as a prime target for follow up drilling;
* Best epithermal vein-breccia intersections include: 26.3m @ 1.0 g/t Au and 8 g/t Ag from 55m, 2.0m @ 3.9 g/t Au and 6 g/t Ag from 33m; and 2.2m @ 1.4 g/t Au and 59 g/t Ag from 106m;
* Mineralisation intersected along the La Despreciada vein-breccia structure is typical of an intact high level epithermal system and is centred on the large 2km x 0.6km Nido Norte rhyolite dome complex, possibly the largest in the dome field;
* Follow up drilling is now testing this 1.8km zone for higher grade targets at depth;
* Several prospective structures from ground magnetics provide new focus for Nido Norte and Calandria Norte type structure-hosted vein-breccia epithermal mineralization;
* Further assay results are awaited from scout drilling of other El Nido targets including Nido Sur and Gamekeeper prospects;
* Calandria Norte target - further bonanza silver intersections at La Morena Vein and high gold assays from La Calandria Vein were received with follow up drilling planned on both vein systems;
* Calandria Sur bulk tonnage target - exploratory drilling underway at the disseminated gold-silver discovery targeting subsurface rhyolite domes in the immediate vicinity of known mineralisation - maiden resource due by the end of April 2011.
Commenting today, Chairman John Horsburgh said, "These latest results from scout drilling at the Nido Norte target confirm the prospect as a prime target for follow up drilling. Mineralisation intersected is considered by Mariana geologists to be consistent with the upper parts of a high-level epithermal precious metal system. Consequently, deeper exploration drilling along the 1.8km Despreciada vein-breccia structure is underway to further investigate the epithermal gold vein system and its bonanza grade potential. Additionally, the structural setting at Nido Norte and Calandria Norte enhances the potential of a number of unexplored structures across the dome field."
Nido Norte
Dome-hosted mineralisation at Nido Norte was intersected in all twelve holes received with encouraging gold/silver values in nine of them. The drilling has tested the target structures mostly in a vertical range of 17m to 60m below surface. A broad zone of mineralisation related to chalcedonic breccias up to 3m wide and sulphide stockwork halo (30m wide) was intersected in exploration hole NND162 - 26.3m @ 1.0 g/t Au and 8 g/t Ag from 55m, including 1.6m @ 5.2 g/t Au & 71 g/t Ag from 64.5m.
The Despreciada mineralisation has no surface expression from mapping and reconnaissance rock chip sampling along the strike of the vein. In addition, petrological studies indicate the mineralisation at Nido Norte is a higher level in the epithermal system compared to the Calandria Sur target. High grade mineralisation at La Calandria vein in the nearby Calandria Norte dome also has minimal surface expression but commences from 50 to 90m below surface.
The twelve Nido Norte intersections included:
Hole NND154 - 2.0m @ 3.9 g/t Au and 6 g/t Ag from 33m
Hole NND155 - 1.7m @ 1.8 g/t Au and 9 g/t Ag from 39m
Hole NND156 - 14.0m @ 0.6 g/t Au and 8 g/t Ag from 34m
Hole NND157 - 6.7m @ 0.8 g/t Au and 12 g/t Ag from 66m
Hole NND154 - 2.0m @ 3.9 g/t Au and 6 g/t Ag from 33m
Hole NND162 - 26.3m @ 1.0 g/t Au and 8 g/t Ag from 55m
Hole NND164 - 6.5m @ 0.4 g/t Au and 2 g/t Ag from 10m
Hole NND167 - 5.0m @ 0.6 g/t Au and 11 g/t Ag from 85m
Hole NCD175 - 1.5m @ 2.1 g/t Au and 17 g/t Ag from 176m
Hole NCD178 - 2.2m @ 1.4 g/t Au and 59 g/t Ag from 106m
Hole locations and cross-sections are shown on the drill plans (see figures) and a summary of intersections is included in the table at the bottom of this release. Assays results are awaited for a further 28 holes drilled to date along the Despreciada structure for a total of 4,624m.
Calandria Norte
Remaining assays were received for four holes at La Morena and five at La Calandria veins within the Calandria Norte target area. CND139 intersected a wide zone of stockwork veinlets in the hanging wall of the eastern part of La Calandria Vein assaying 45.6m @ 0.4 g/t Au. Hole CND141 intersected a stockwork halo in the western part with 16.5m @ 0.5 g/t Au and a vein breccia assaying 0.5m @ 9.8 g/t Au. Two deeper holes (CND 149 and 150) intersected a stockwork vein halo with low gold and silver values.
An updated gm-m Au longitudinal section (gm Au x metres, see figure) shows the vein system extending over at least 400m strike. NE trending vein-breccias (up to 1.5m wide) dip steeply NW and plunge at a shallow angle to the SW within a broad stockwork zone up to 100m wide. Further drilling will target extensions to previously announced intersections of 8.0m @ 2.2 g/t Au from 91m (CND129), 7.0m @ 5.6 g/t Au from 120.5m (CND131), 0.8m @ 90.2 g/t Au and 198 g/t Ag from 132.1m (CND132) and 13.5m @ 3.0 g/t Au from 159m (CND137).
Remaining assays for four holes at La Morena Vein in the northern part of Calandria Norte dome returned 1.0 m @ 0.1 g/t Au and 981 g/t Ag from 140 m (CND153) and 0.5m @ 3.5 g/t Au and 44 g/t Ag from 71m (CND153) with follow up drilling planned.
Other El Nido Targets
The 2010 ground magnetic survey provides a new focus for a number of untested structures across the dome field prospective for Nido Norte and Calandria Norte style mineralisation. Results are awaited for a total of 21 holes testing Induced Polarisation ('IP') targets in other El Nido target areas at Nido Sur and Gamekeeper. No significant assays were received for seven scout holes at the Nido Oeste target area.
Calandria Sur
Resource modelling is underway by consultants Mine Development Associates ('MDA') of Reno, Nevada. Preliminary metallurgical test work being undertaken at Metcon Laboratories in Sydney, Australia, under the supervision of Consulting Metallurgist Peter Lewis, is outlined in the NI 43-101 technical report on Las Calandrias Project by MDA 24 November 2010 (see website). Test work has included LeachWell assaying, preparation of bulk composites, gravity concentration, carbon-in-leach tests and heap leaching of the oxide mineralisation. Tests on primary mineralisation have included fine grinding, flotation, oxidation of the flotation concentrate and cyanidation of the oxidised concentrate. The final test results and report are expected in March/April 2011.
Las Calandrias Project Background
Las Calandrias comprises multiple zones of gold mineralisation hosted by rhyolite domes over a 10.5km2 area. In 2009, 16 scout holes (1,763m) tested the Calandria Norte vein- breccia and Calandria Sur dome breccia targets where significant gold mineralisation was discovered (see news release 28 October 2009). The Q1/Q2 2010 drill programme consisted of 4,400m in 37 holes and tested Calandria Sur (28 holes/3,212m); Calandria Norte (2 holes/299m), El Nido Este (2 holes/309m) and El Nido Norte (5 holes/580m). The Q3 2010 programme consisted of 14,004 m in 110 holes; Calandria Sur (56 holes/6,186m); Calandria Norte (43 holes/6,175m); Nido Norte (7 holes/1,054m); Nido Oeste (2 holes/421m); La Herradura (2 holes/168m).
finance.yahoo.com |
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| From: TheSlowLane | 3/4/2011 6:23:29 AM | | | | | | Initial Results from La Josefina Drilling Confirm Additional High Grade Gold
Liberty Lake, Washington, March 3rd, 2011 – Hunt Mining Corp. (the “Corporation”)
(TSX VENTURE: HMX) is pleased to announce results for the first six holes of the
ongoing diamond drilling program at the La Josefina Project in Santa Cruz province,
Argentina.
Drilling was initiated at Veta Ailin located in the “Central Zone” of La Josefina (not
currently represented in the NI 43-101 resource estimations). However, along a 500 meter
strike length at Veta Ailin, several historic drill holes confirmed the presence of high-
grade gold, silver, and base-metal mineralization. Five of the first six holes cut significant
precious and/or base metal mineralization (table 1).
The best interval was from hole SC-D11-248, which contained a true mineralized width
of 5.7 meters grading 26.19 g/t (grams/ton) gold and 41.59 g/t silver, including:
? 0.81 meters of 132.34 g/t gold and 112.20 g/t silver.
? 0.36 meters of 66.41 g/t gold and 245.00 g/t silver.
Hole SC-D11-244 included a true mineralized width of 2.14 meters grading 7.62 g/t gold,
33.04 g/t silver and 3.4% lead, including:
? 0.43 meters of 26.41 g/t gold, 102.60 g/t silver and 5.2% lead and
? 0.38 meters of 9.91 g/t gold, 40.40 g/t silver and 8.1% lead.
The current drill campaign is planned to include 12,000 meters of HQ and NQ diamond
core drilling on the Corporation’s La Josefina and El Gateado projects. The drilling
program has been designed to increase the current resource base at La Josefina by
offsetting historic drill holes that were excluded from the current NI43-101 resource and
drilling step out holes on the five identified ore shoots that remain open to expansion. In
addition, the Corporation will drill test portions of the more than 15 kilometers of
exposed mineralized structures that remain undrilled. At El Gateado, the drilling is
designed to offset and expand mineralization identified during a 2006 drilling campaign
where hole GAT-DDH-001 intersected 11.3 meters (estimated to be true width) of 3.65
g/t gold.
The Corporations management is very pleased with the initial drill results on Veta Ailin and believes that they will significantly assist the expansion and improvement of the current resource base at La Josefina.
huntmining.com |
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| From: TheSlowLane | 3/9/2011 6:32:23 AM | | | | | | Argentex: Second drill rig commences targeted program at Pinguino silver property
VANCOUVER , March 7 /CNW/ - Argentex Mining Corporation (TSXV: ATX) (OTCBB: AGXM) is pleased to announce that a second drill rig has been deployed to its 100% owned Pinguino property in Santa Cruz province, Argentina. The company is ramping up its proposed 17,000-meter drilling program to accommodate the large number of generated targets, with this second rig specifically dedicated to core drilling. To date, approximately 850 meters of HQ core has been completed between the Marta Este and Marta Centro zones as part of the 2010-2011 program.
At the same time, ongoing reverse circulation (RC) drilling at Pinguino project is progressing well, with approximately 5,500 meters completed to date. The 2011 exploration budget for Pinguino is approximately $4 million.
The RC drilling completed has tested the upper part of the oxide horizon within 13 silver-dominant zones including Tranquilo, Marta Este and Marta Norte. An additional target is the contact of oxide-primary mineralization, located approximately 50 meters below surface. Geological modeling suggests a possible zone of secondary silver enrichment at that interface. Excellent potential exists within these targets for expansion and definition of additional silver mineralization.
Complementing the drilling program is an extensive program of trenching to test strategic surface targets. To date, eight silver-gold veins including silver-rich Marta Norte have been trenched for a total of 6,980 meters. The focus of our exploration activities at Pinguino is the expansion of near-surface silver discoveries with our overall goal of defining the extensive mineralized footprint.
Rock samples from RC and diamond drilling together with diamond saw channel samples from trenching have been submitted to Acme Analytical Laboratories for analysis and results are pending.
The exciting new discoveries in 2010 of high-grade silver within the Tranquilo and Luna structures adds to the overall potential of the previously known precious metal mineralization at Pinguino. More than 50 individual veins have been discovered to date at Pinguino, with a combined strike length in excess of 75 line kilometers. Only a small percentage of Pinguino's entire system of veins and known targets has been drill tested to date.
Pinguino Drilling
Argentex is scheduling to drill a total of 17,000 meters using a combination of reverse-circulation drilling (13,500 meters) and diamond drilling (3,500 meters) to expand near-surface oxidized silver-gold mineralization. We have also budgeted for 12,000 meters of trenching in our 2010-2011 exploration program.
About Pinguino
Argentex's Pinguino property is located in Argentina's Patagonia region, within the Deseado Massif of Santa Cruz province. Recent high-grade silver discoveries within newly tested structures of the district-scale vein system at Pinguino show potential for the development of a significant silver resource. |
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| To: TheSlowLane who wrote (9) | 3/10/2011 10:13:31 AM | | From: Malyshek | | | | | Wonder why Mirasol is plunging today? Down 16%. I know someone very knowledgeable who helped me get in years ago who has said that it was pretty richly valued for what it had going so far, although he allowed that it still had upside if future drilling results were very good. |
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