From help file:
To establish a mirror set
1.Select the partition that you want to duplicate.
2.Hold down CTRL and click an equal-sized or larger area of free space on another hard disk.
3.On the Fault Tolerance menu, click Establish Mirror.
Disk Administrator creates an equal-sized partition in the free space for the mirror.
Notes
The same drive letter is used for both partitions of a mirror set. Any existing partition, even the system and boot partitions, can be mirrored onto another partition of equal or greater size on another disk using either the same or a different controller.
The changes you have made will not be saved until you click Commit Changes Now or quit Disk Administrator.
As you read is your choice to mirroringa partition or more. Mirroring is a method to have a synchronized copy of the data from one partition and in situation that a HHD failed you will have this copy of data on another HDD.