EXPLORATION ROUNDUP — Drilling program confirms high-grade gold for Mirage

Four holes drilled at Mirage Resources’ (MGP-T) Dorado gold project in El Salvador have returned high-grade gold and silver values.

Each of the holes intersected the Minita vein at depths below 185 metres, and the company believes mineralization continues below existing workings.

High-grade intercepts included: 4.8 metres (true width) grading 30.38 grams gold and 243 grams silver per tonne in hole 138; 6.62 metres (true width) of 26.82 grams gold and 209 grams silver in hole 139; 3.7 metres (true width) of 2.43 grams gold and 13.3 grams silver in hole 140, which tested the southern extent of the high-grade oreshoot 65 metres to the south; and 7.63 metres (true width) of 10.96 grams gold and 52.44 grams silver, including a 2-metre interval of 32.78 grams gold and 166.4 grams silver in hole 141, a stepout to the north, which intersected the vein at about 310 metres below surface.

The company also drilled two additional holes into the Nueva Esperanza vein, 1 km to the north.

Also, hole 142 encountered 50 metres of stockwork mineralization at a depth of 160 metres, including 7.25 metres of vein material (with a true width of 5.5 metres) of 7.04 grams gold and 34.99 grams silver, and hole 143 encountered 90 metres of stockwork at a depth below 200 metres.

The company is currently drilling at the Coyotera prospect, 5 km north of El Dorado.

Mirage gained control of El Dorado in July, after Kinross Gold (K-T) opted out of exercising back-in rights for a 50% interest. Kinross still holds a 48% interest in Mirage.