Miranda Gold Corp. ("Miranda") (TSX VENTURE: MAD)(OTCBB:
MRDDF)(FRANKFURT: MRG) reports results from the 2008 drilling at
the Horse Mountain project in Lander County, Nevada. Newcrest
Resources Inc. ("Newcrest"), Miranda's exploration funding partner,
completed 18,240 ft (5,561 m) of reverse-circulation drilling in
nine vertical holes. Newcrest's expenditures to date exceed
US$900,000. Miranda has not been advised of Newcrest's 2009
exploration plans.
Newcrest's drill program was designed to vector into
higher-grade portions of the Horse Mountain gold system in part by
off-setting oxidized mineralization, 98 ft of 0.023 oz Au/t (29.9 m
of 0.788 g Au/t) in core hole BHM-001. Drill results are summarized
below:
Hole Length Grade Interval Length Grade
Number (ft) (oz Au/t) (ft) (m) (g Au/t)
H-1 No significant results
H-2 5 0.015 685-690 1.5 0.500
H-3 15 0.019 1,110-1,125 4.6 0.638
5 0.011 1,150-1,155 1.5 0.359
H-4 5 0.011 400-405 1.5 0.392
35 0.012 505-540 10.7 0.415
H-5 5 0.010 1,970-1,975 1.5 0.346
H-6 5 0.011 1,945-1,950 1.5 0.375
5 0.016 1,975-1,980 1.5 0.555
5 0.015 2,060-2,065 1.5 0.522
15 0.011 2,080-2,095 4.6 0.366
5 0.015 2,150-2,155 1.5 0.504
20 0.012 2,365-2,385 6.1 0.416
H-7 5 0.012 5-10 1.5 0.411
5 0.019 945-950 1.5 0.640
5 0.013 1,035-1,040 1.5 0.458
5 0.011 1,900-1,905 1.5 0.375
H-8 5 0.016 700-705 1.5 0.547
5 0.012 945-950 1.5 0.415
10 0.015 1,460-1,470 3.1 0.524
10 0.017 1,640-1,650 3.1 0.592
H-9 5 0.013 230-235 1.5 0.452
5 0.017 245-250 1.5 0.594
10 0.038 2,245-2,255 3.1 1.318
5 0.015 2,295-2,300 1.5 0.496
The program drill tested structural and gold/arsenic soil
geochemical targets north of BHM-001, within a northeast-striking
structural high. Additional drill holes tested soil geochemical
anomalies and structural targets north, west and southeast of
BHM-005, a reverse circulation drill hole that intersected 90 ft of
0.022 oz Au/t (27.4 m of 0.753 g Au/t) at the Rum Dreams prospect,
which forms part of the Horse Mountain project. Of the nine holes,
only six reached their intended targets. Three holes (H-5, H-6 and
H-9) at Rum Dreams were lost short of their targets due to caving
ground conditions and stuck drill pipe.
Gold mineralization is associated with either quartz-veined-clay
altered upper plate quartzite and chert, or with decalcified,
pyritic and quartz-veined lower plate limestone. Locally gold
mineralization is associated with the margins of diorite dikes.
Elevated arsenic and antimony accompany the gold
mineralization.
Drill hole H-7 tested a gold-arsenic soil anomaly 1,015 ft (310
m) southeast of BHM-005. The drill hole intersected deep oxidation,
vertically-continuous zones of elevated arsenic and thick,
low-grade gold zones including: 75 ft of 0.006 oz Au/t from 900 to
975 ft (22.9 m of 0.202 g Au/t from 274.4 to 297.3 m) and 95 ft of
0.003 oz Au/t from 1,820 to 1,915 ft (29.0m of 0.116 g Au/t from
554.8 to 583.8 m). At this location, structure contours on the top
of lower plate carbonate rocks illustrate a west-northwest striking
/ northwest plunging anticline. Strike extensions of the anticline
project into undrilled areas southeast of hole H-7, where shallower
lower plate drill targets are inferred.
Geologic patterns typically associated with large,
sediment-hosted gold systems are present at Horse Mountain.
Patterns include: extensive zones of hydrothermal alteration and
elevated metal values, deep oxidation (to 1,500 ft / 457 m),
igneous dikes, potential ore-traps (anticlines / structural highs)
and hornfelsing. Vectoring into economically-favorable portions of
the gold system are proving more difficult than originally
perceived due to structural complexities, depth to targets and poor
drilling conditions. Untested drill targets remain at the Rum
Dreams prospect, along the anticline southeast of H-7, and along
the structural high southwest of BHM-001.
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. At surface, 139 lode claims cover a 2 square
mile (5.2 sq. km.) cell of hydrothermal alteration and elevated
gold, arsenic, antimony and mercury in the upper-plate of the
Roberts Mountains thrust. Below the thrust, previous drilling
intersected gold-bearing lower plate carbonate rocks along a
northeast-striking, structurally-high block (horst) in the Roberts
Mountains Formation. This formation is host to numerous world-class
gold deposits along the Cortez and Carlin gold trends.
All drill samples were collected with a reverse-circulation
drill using 5-ft sample (1.5m) intervals. Samples were assayed by
Inspectorate of Sparks, Nevada. Select samples and standards were
re-analyzed by ALS Chemex Laboratories, Inc. of Sparks, Nevada.
Gold results were determined using standard fire assay techniques
on a 30-gram sample with an atomic absorption finish. All reported
lengths for mineralized intervals are down-hole measurements. Drill
samples were also analyzed for a 30-element geochemical suite by
ICP-AES. Newcrest QC/QA included the insertion of numerous
standards, blanks and duplicate samples. QA/QC protocols also
included secure sample storage, handling and shipping.
For more details on the Horse Mountain project please visit our
website at http://www.mirandagold.com/s/HorseMountain.asp.
The data disclosed in this press release have been reviewed and
verified by Company Senior Geologist Steven Koehler, CPG, 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. Previous
partners include Barrick Gold Exploration Inc., Newmont Mining
Inc., Placer Dome (US) Inc., Agnico-Eagle (USA) Inc., Romarco
Minerals Inc., Golden Aria Corp., the Cortez Joint Venture and the
Buckhorn Joint Venture. Miranda has ongoing partnerships with
Newcrest Resources Inc., 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 Toll Free: 1-877-689-4580 or (604) 689-4580 Website:
www.mirandagold.com
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