Mirasol Resources (MRZ-V) has hit upon a new high-grade silver vein in Argentina and the market signaled that it could be cause for celebration.
The company is calling the new vein the Julia vein, and says it is part of the Virginia vein zone on its wholly owned mineral property in the Aregentina’s more mining friendly Santa Cruz province.
In Toronto on Jan.6 the news caused the company’s shares to jump over 30% or 53¢ to $2.25 on 515,000 shares traded.
Mirasol says the Julia vein was discovered after following up alteration and structural targets late last year.
In all, thirty rock chip samples from outcrop, subcrop and float of the vein were collected and returned silver values of between 21.9 and 2,660 grams per tonne silver. Gold values range from 0.01 grams to 0.14 grams gold per tonne.
The average silver grade of the initial 30 samples is 645 grams silver per tonne, but, Mirasol says, sampling indicates that segments of the vein may contain higher silver grades.
It says it will need to do more exploration to determine what the average grade of the vein is and if there are higher grade shoots within it.
So far, the vein is traceable over 2,000 metres – which covers outcrop, subcrop and as large float blocks. Mirasol says the width of the vein appears to range from under one metre to at least 5 metres but, it says, it doesn’t yet know what the average width is.
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