Second Project Being Drilled as Drilling Commences on Miranda Gold's Red Canyon Project
November 07 2007 - 7:00AM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: MAD)(OTCBB:
MRDDF)(FRANKFURT: MRG)(BERLIN: MRG) is pleased to announce that its
joint venture earn-in partner Romarco Minerals Inc. ("Romarco") has
commenced reverse-circulation drilling at the Red Canyon project,
located in the Battle Mountain-Eureka Trend, Eureka County, Nevada.
A 6,000 ft (approximately 1,830m) drilling program is anticipated
in three unique target areas.
Romarco's drilling will test for extensions to gold
mineralization at the Ice Prospect, where a previous hole
intersected 95 ft of 0.117 oz Au/t from 20 to 115 ft (29.0m of 4.01
g Au/t from 6.1 to 35.1m). Additional drill holes, between the Ice
Zone and Gexa Prospects, will test for deeper gold zones identified
by the 2005 drilling campaign.
The Red Canyon project consists of 237 unpatented lode mining
claims (7.7 square miles / 19.8 square kilometers) and adjoins U.S.
Gold's Tonkin Springs property to the west. The project covers an
erosional "window" that exposes altered, brecciated and silicified
lower-plate carbonate rocks that are age equivalent to the rocks
hosting the Cortez Hills discovery. Drilling in 2005 by Miranda's
previous JV partner Newmont Mining Corporation identified an
extensive hydrothermal system between the Ice and Gexa target
areas. Newmont's holes encountered deep oxidation, moderate to
strong silicification and select intervals of fluidized breccias.
These alteration features combined with elevated gold confirm the
presence of a deeper, previously unrecognized Carlin-style gold
system.
Currently Miranda has two projects being drilled, Red Canyon as
just described, and Red Hill by Barrick Gold Exploration, Inc.
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 Newcrest Resources Inc., Barrick Gold
Exploration Inc., the Cortez Joint Venture, the Buckhorn Joint
Venture, Romarco Minerals Inc., Piedmont Mining Company Inc. and
White Bear 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 (604)
801-5911 (FAX) Email: mad@mirandagold.com Website:
www.mirandagold.com