|
Miranda Gold Corp. announces that drilling has
started at Big Blue, a sediment-hosted gold project in Lander County, Nevada.
Miranda’s exploration funding partner, Ramelius Resources Ltd.
(“Ramelius”) (ASX:RMS.ax
- News), plans to drill up to
three holes for a total of 3,600 ft (1,097 m). This
is Miranda’s first drill campaign of the 2011 season.
The area to be tested with this first phase of drilling contains soils
with gold values from non-detectable to a high of 0.025 oz
Au/t (0.850 g Au/t) and rocks with gold values from non-detectable to a high
of 1.70 oz Au/t (58.2 g Au/t). Historic drilling
from three holes in the area intersected 20 ft (6.1
m) of 0.007 oz Au/t (0.240 g Au/t), 5 ft (1.5 m) of 0.032 oz Au/t
(1.10 g Au/t), and 10 ft (3 m) of 0.071 oz Au/t (2.44 g Au/t). Inferred northerly trending
controls to mineralization are indicated by local disrupted bedding, brecciation, oxidation, quartz veins, silicification,
and structurally controlled jasperoid.
Three west or northwest-directed 1200-ft (366 m) angle holes are
planned to be drilled on an approximately 1,250 ft
(380 m) long cross section through the target area. These holes will collar
in chert and siliceous sediments in the upper plate
of the Roberts Mountain Thrust and test more favorable lower-plate carbonates
and inferred northerly faults at depth in the vicinity of the surface and
historic drill-indicated gold anomalies. Previous drilling has not tested
below a depth of 500 ft (152 m); lower-plate
carbonates are projected to be encountered at a depth of from 175 to 375 ft (53 to 114 m) in the planned holes.
The Big Blue Project consists of 255 unpatented lode mining claims
covering 8.2 sq mi (21.2 sq
km) located in the Toiyabe Range, 13 miles (21 km)
north of Austin, Nevada. The project is on the south margin of the Callaghan
Window, a large area exposing Cambrian- through Silurian-age lower-plate
carbonate rocks in the footwall of the Roberts Mountains Thrust. The
lower-plate sequence includes the Roberts Mountains, Hanson Creek and Pogonip Formations, of which all are known to be
favorable hosts for large, sediment-hosted gold systems in Nevada.
A target analogue for the Big Blue project is the Northumberland
deposit in the Toquima Range 39 miles (63 km) south
of Austin, Nevada. Both the Northumberland deposit and Miranda's Big Blue
project are within lower-plate windows showing alteration and gold
mineralization, but are off the well-defined Carlin and Cortez Trends. The
Northumberland and the Callaghan windows are both associated with similar
district-scale stream-sediment anomalies.
The data disclosed in this press release have been reviewed and
verified by President & CEO Ken Cunningham, P.G., MSc. Geology and
Qualified Person as defined by National Instrument 43-101.
Corporate Profile
Miranda Gold Corp. is a gold exploration company active in Nevada,
Alaska and Colombia and whose emphasis is on generating gold exploration
projects with world-class discovery potential. 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 Agnico-Eagle (USA)
Inc., Montezuma Mines Inc., Navaho Gold Ltd., NuLegacy
Corporation, Piedmont Mining Company Inc., Ramelius
Resources Ltd., and Red Eagle Mining Corporation.
|
|
“Kenneth
Cunningham”
|
|
Kenneth
Cunningham
|
President
and CEO
|
For more information visit the Company’s web site at www.mirandagold.com
or contact Joe Hebert, Vice President Exploration 1-775-738-1877.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
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 contains forward-looking statements that are based
on the Company’s current expectations and estimates. Forward-looking
statements are frequently characterized by words such as “plan”,
“expect”, “project”, “intend”,
“believe”, “anticipate”, “estimate”,
“suggest”, “indicate” and other similar words or
statements that certain events or conditions “may” or
“will” occur. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that could cause actual events
or results to differ materially from estimated or anticipated events or
results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current
exploration activities; conclusions of economic evaluations; changes in
project parameters as plans to continue to be refined; possible variations in
ore grade or recovery rates; accidents, labour
disputes and other risks of the mining industry; delays in obtaining
governmental approvals or financing; and fluctuations in metal prices. There
may be other factors that cause actions, events or results not to be as
anticipated, estimated or intended. Any forward-looking statement
speaks only as of the date on which it is made and, except as may be required
by applicable securities laws, the Company disclaims any intent or obligation
to update any forward-looking statement, whether as a result of new
information, future events or results or otherwise. Forward-looking
statements are not guarantees of future performance and accordingly undue
reliance should not be put on such statements due to the inherent uncertainty
therein.
Contact:
Miranda Gold Corp.
Joe Hebert, 1-775-738-1877
Vice President Exploration
|
|