Mine Development Associates Data Review Supports Upside Potential at Miranda Gold Corp. Redlich Project
March 20 2008 - 7:00AM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: MAD)(OTCBB:
MRDDF)(BERLIN: MRG)(FRANKFURT: MRG) is pleased to announce the
results of a data review conducted by Mine Development Associates
("MDA") for its Redlich Project, an epithermal vein target located
in the Walker Lane mineral belt of Nevada. MDA states in its
findings that the data provides good insight into the project and
that there is strong evidence for the existence of a real, and
potentially substantial, epithermal deposit on the property.
In order to refine and enhance drill targets, Miranda requested
that MDA review drill and assay data collected during the previous
exploration programs at Redlich. The review consisted of a
statistical analysis and examination of data in three-dimensional
views. The intent of the review was to assess potential continuity
of higher-grade mineralization and to model the epithermal vein
system present on the property.
MDA found that 55% of all drill-hole samples grading over 0.029
oz Au/t (1 g Au/t) line up roughly along an approximate east-west
plane dipping 45 degrees to the south. The strike length of this
plane is approximately 1,150ft (350m) long and extends down dip
approximately 590ft (180m). All drill holes that intersect this
plane as defined above have reported gold intercepts greater than
0.029 oz Au/t (1 g Au/t). The best intercept in the plane is 1.945
oz Au/t (66.6 g Au/t).
Two high-grade drill samples of 0.438 oz Au/t (15 g Au/t) and
0.788 oz Au/t (27 g Au/t) occur to the southeast of the defined
plane at a distance of 1,065ft (325m) and 5,000ft (1,525m),
respectively. According to MDA, these high-grade drill intercepts
remain open and only partially tested and represent potential for
additional parallel vein sets.
By evaluating gold and silver grade changes by elevation, MDA
found evidence for a favorable horizon for precious metal
deposition. Gold values show an increase between 4,265ft (1,300m)
and 4,755ft (1,450m) in elevation. For silver, the trend is more
profound and suggests a lower horizon favorable for the deposition
of this metal, a characteristic not unusual for epithermal precious
metal deposits. Miranda's geologic team believes this favorable
elevation represents the "boiling zone" at which gold was
precipitated from hot fluids during mineral deposition.
MDA suggests that further exploration is justified and that it
should concentrate on the orientation of the best-fit plane as well
as around the two isolated drill intersections of +0.438 oz Au/t
(15 g Au/t).
Miranda is also pleased with the results of the Redlich data
review. Prior exploration drilling was oriented with the belief
that the vein trended in a northwesterly direction. "MDA's
identification and documentation of a best-fit plane to
higher-grade gold as well as a favorable vertical horizon for
precious metal deposition has helped resolve remaining potential on
the project. These results will contribute to the efficient design
of subsequent drill programs," stated Joe Hebert, Miranda's VP of
Exploration in Elko, Nevada. Miranda will provide the report to
interested parties with the goal of securing a new joint venture
partner to further test these targets.
An illustration of the best-fit plane for Redlich gold
mineralization is available on Miranda's website at
http://www.mirandagold.com/s/Redlich.asp. A video of the three
dimensional model will be posted on the website once it is made
available to Miranda.
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 and has been approved by MDA.
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 Toll Free: 1-877-689-4580 or (604) 689-4580 (604)
801-5911 (FAX) Email: mad@mirandagold.com Website:
www.mirandagold.com
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