Miranda Gold Corp. 2008 Drilling Forecast
25 March 2008 - 11:00PM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: MAD)(OTCBB:
MRDDF)(BERLIN: MRG)(FRANKFURT: MRG) is pleased to announce that its
exploration funding partners have informed the Company of drilling
activity expected in 2008. At this time, Miranda management
anticipates at least 12,000 ft (3,658 m) of drilling on four
properties in Nevada over the course of the next six months. This
drilling includes:
- A three-hole drill program has been approved by White Bear
Resources Ltd. ("White Bear") at Iron Point, a project which occurs
at the intersection of the Battle Mountain-Eureka and Getchell
Trends. Miranda geologists defined a drill program that will test
three target areas for a total of 4,500 ft (1,372 m). One hole will
test a north and northwest-trending fault intersection where
favorable limestone shows strong oxidation and silicification.
Soils are anomalous in the area and rock samples show values to
0.035 oz Au/t (1.20g Au/t). A second drill hole will test for the
contact of Ordovician age rocks with either older or younger rock
formations in an area where historic drilling shows thick
continuous zones of low-level gold. The third hole will test the
footwall of a north trending fault zone that may be a source of
significant bedding controlled alteration extending east of the
fault.
Drill permits for Iron Point have been received and drill pads
and sumps have been constructed. Miranda, as service operator, is
currently seeking a drill contractor.
- Angel Wing is a low sulfidation bonanza-vein and disseminated
gold system in northeast Nevada, also optioned to White Bear.
Coarse boiling textures ("angel wing textures") are common in veins
on the project. Miranda's drill program aims to test surface
anomalies and the continuity and deeper extensions of historic
drill intercepts. The drill program, as defined by Miranda
geologists contracting to White Bear, encompasses 10 drill holes
and approximately 3,500 ft (approximately 1,070 m) of drilling.
Four of ten drill holes at Angel Wing will test down-dip extensions
of two outcropping veins that returned rock chip values ranging
from 0.010 to 2.700 oz Au/t (0.343 to 92.5g Au/t). One hole will
test what appears to be an extension 1.6 km (1 mile) north of these
veins with values in rock chips ranging from 0.010 to 0.025 oz Au/t
(0.343 to 0.850g Au/t). The remaining five holes will test fault
controlled and possible disseminated gold in limestone and basalt
in three separate areas of the property. Drill permitting is being
finalized but the property cannot yet be accessed due to winter
weather conditions.
- Piedmont Mining Company Inc. ("Piedmont") is the exploration
funding partner at the PPM project. Piedmont proposes drilling
approximately 15 drill holes, totaling 3,000 ft (1030 m), to test
the surface of basement highs under the pediment for indications of
a gold system. Prior exploration work on the property includes a
magnetic survey, a gravity survey, sage brush biogeochemistry and
mercury soil gas sampling. A subsequent drill program would drill
deeper into the basement dependent on results from the initial
shallower drilling. Miranda and Piedmont geologists are in the
process of permitting these holes for drilling in the spring.
- Miranda and Queensgate Resources Corporation ("Queensgate")
are currently discussing an exploration program and budget that
would include drill testing defined targets at Coal Canyon, one of
three properties optioned to Queensgate. Prior exploration work,
which includes geologic mapping, surface sampling and a resistivity
survey, has delineated a number of drill targets. These targets
include several discrete structural intersections that are
associated with jasperoids, breccias and anomalous gold
geochemistry.
Drill results from Miranda's Red Hill project are still pending.
Barrick Gold Corporation ("Barrick"), Miranda's exploration funding
partner for the property, is evaluating the data and will make
results available to Miranda in the coming weeks.
Over the following months investors will see drilling activity
on all the just described projects with approved budgets, as stated
above, funded entirely by exploration partners. Detailed programs
for Red Hill, Fuse East and Fuse West are still pending. In line
with Miranda's joint venture business model, new partners are
aggressively being sought on those properties not presently
optioned.
Corporate Profile
Miranda Gold Corp. is a gold exploration company active in
Nevada and whose emphasis is on generating gold exploration
projects within the Battle Mountain-Eureka and Cortez Trends.
Miranda performs its own grass roots exploration and then employs a
joint venture business model on its projects in order to maximize
exposure to discovery while minimizing exploration risk. Miranda
has ongoing partnerships with Barrick Gold Exploration Inc., the
Cortez Joint Venture, the Buckhorn Joint Venture, Piedmont Mining
Company Inc., White Bear Resources Inc., and Queensgate Resources
Corporation.
ON BEHALF OF THE BOARD
Kenneth Cunningham, President and CEO
This news release may contain information about adjacent
properties on which we have no right to explore or mine. We advise
U.S. investors that the SEC's mining guidelines strictly prohibit
information of this type in documents filed with the SEC. U.S.
investors are cautioned that mineral deposits on adjacent
properties are not indicative of mineral deposits on our
properties. This news release may contain forward-looking
statements including but not limited to comments regarding the
timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral
recovery processes, etc. Forward-looking statements address future
events and conditions and therefore involve inherent risks and
uncertainties. Actual results may differ materially from those
currently anticipated in such statements.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Miranda Gold Corp. Fiona Grant Manager, Investor
Relations (604) 689-4580 or Toll Free: 1-877-689-4580 (604)
801-5911 (FAX) Email: mad@mirandagold.com Website:
www.mirandagold.com
Miranda Gold Corp. (TSXV:MAD)
Historical Stock Chart
From May 2024 to Jun 2024
Miranda Gold Corp. (TSXV:MAD)
Historical Stock Chart
From Jun 2023 to Jun 2024