Drilling Begins at Miranda Gold Corp.'s Red Hill Project
September 04 2008 - 10:52AM
Marketwired
Miranda Gold Corp. ("Miranda") (TSX VENTURE: MAD)(OTCBB:
MRDDF)(FRANKFURT: MRG) announces that drilling has commenced at the
Red Hill project, under an exploration funding agreement with
Barrick Gold Exploration Inc. ("Barrick"). The drill program will
encompass 2 holes totaling approximately 4,500 to 5,000 ft (1372 to
1524 m).
The program is designed to better understand the gold system
that was discovered in hole BRH-013, which in 2006 intercepted 45
ft 0.237 oz Au/t from 1,920 to 1,965 ft (13.7 m of 8.105 g Au/t
from 585 to 599 m). Drilling will continue to evaluate a
west-northwest striking resistivity anomaly, which coincides with a
west-northwest to north-south striking bedrock high, a gravity
gradient low, and a swarm of igneous dikes. From BRH-013, the
proposed holes are approximately 1,000 ft (305 m) to the southeast
and 2,450 ft (750 m) to the west. An exploration summary map of the
past and current drilling can be viewed on the Miranda website at
http://www.mirandagold.com/s/Image.asp?i=photos/Red_Hill_Fig6_2008.jpg&id=309218.
Barrick's drilling at Red Hill is part of a larger program near
BRH-013 that includes drilling on third-party lands adjoining to
the west.
The Red Hill project comprises 79 lode mining claims that are
located in the JD Window of the northeast Simpson Park Range. These
claims cover the eastern margin of the lower-plate Paleozoic
carbonate rocks within the window. Extensive hydrothermal activity
has caused clay alteration, decalcification, widespread iron oxide
staining and silicification. The JD window is one of a belt of
several lower plate carbonate windows that extend 30 miles through
the Shoshone, Cortez and Simpson Park Ranges and fall within a
projection of the Cortez Trend.
Miranda currently has drills turning at Horse Mountain with our
partner Newcrest Resources, Inc. and now at Red Hill. Drill assays
are pending from the Coal Canyon drill program which was completed
last month by our partner Queensgate Resources Corporation.
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 Montezuma Mines 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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