Drilling Begins on Miranda Gold's Horse Mountain Project
19 August 2008 - 2:57AM
Marketwired
Miranda Gold Corp. ("Miranda") (TSX VENTURE: MAD)(OTCBB:
MRDDF)(FRANKFURT: MRG) announces that Newcrest Resources Inc.
("Newcrest"), Miranda's exploration funding partner, has commenced
the 2008 drill program at the Horse Mountain project. Newcrest has
permitted 13 drill sites and anticipates drilling up to 20,000 ft
(6,096 m). The drill program will follow up drilling that
intersected 98 ft of 0.022 oz Au/t (29.9 m of 0.754 g Au/t) in core
hole BHM-001.
Newcrest's drill program aims to vector into higher-grade
portions of the Horse Mountain gold system in part by off-setting
the known mineralization in hole BHM-001. The program will test
structural and gold/arsenic soil geochemical targets north and
northeast of drill hole BHM-001, within the northeast-striking
structural high. Specifically, the drilling will test for
higher-grade gold zones that may be adjacent to faults that acted
as conduits for the gold-bearing fluids or higher-grade
mineralization that is confined in structural traps. Additional
drill holes will test soil geochemical anomalies and structural
targets north of drill hole BHM-005, a reverse circulation drill
hole that intersected 50 ft of 0.017 oz Au/t (15.2 m of 0.583 g
Au/t).
Horse Mountain is a sediment-hosted, disseminated gold project
11 miles (17.6 km) west of Barrick's Pipeline Mine complex, in
north-central Nevada. The property consists of 139 claims that
cover a 2 sq mile (5.2 sq km) zone of hydrothermally altered
chert/quartzite, altered dikes and elevated gold, arsenic, antimony
and mercury in the upper-plate of the Roberts Mountains thrust.
Below the flat lying Roberts Mountain thrust, previous drilling
intersected oxidized, decalcified and gold-bearing carbonate rocks
of the Roberts Mountains Formation. This formation is host to
numerous world-class gold deposits in both the Carlin and Cortez
trends. The 98-ft gold zone intersected in BHM-001 begins at a
depth of 926 ft (282 m) and is hosted in a northeast-striking
structurally-high block (horst) of favorable lower-plate carbonate
rocks.
Ken Cunningham, Miranda's President and CEO, is pleased with the
aggressive program that Newcrest will implement. "The Horse
Mountain project represents a Carlin-type gold system with an
extensive alteration halo that deserves to be thoroughly drill
tested. Based on our past association with Newcrest we feel they
will do an excellent job testing the project."
This drill program represents the 3rd Miranda property to be
drilled by partners this year. In total, Miranda anticipates
partners will fund a total of 50,000 ft of drilling on six
properties.
The data disclosed in this press release have been reviewed and
verified by Company Senior Geologist Steven Koehler, P. Geo., BSc.
Geology and Qualified Person as defined by National Instrument
43-101.
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.,
Newcrest Resources Inc., the Cortez Joint Venture, the Buckhorn
Joint Venture, Piedmont Mining Company Inc., White Bear Resources
Inc., Queensgate Resources Corporation and CMQ Resources Inc.
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 Website:
www.mirandagold.com
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