Miranda Gold Corp. ('Miranda?) (TSX-V: MAD) announces drill
results from a four hole, 5,250 ft (1,600 m) reverse-circulation drill
program at Coal Canyon, a sediment-hosted gold project in Eureka County,
Nevada.
All four drill holes intersected hydrothermally altered intervals within
carbonate rocks of the Roberts Mountains and Hanson Creek Formations.
Altered lamprophyre and basalt dikes were also intersected. Although
significant gold mineralization (?0.010 oz Au/t; ?0.343 g Au/t) was not
intersected, Miranda geologists recognize untested geologic and
geochemical drill targets to the west and east of MCC-4.
The drilling, conducted by Miranda′s exploration funding partner at Coal
Canyon, Queensgate Resources Inc. ('Queensgate?), attempted to expand
upon results in MCC-4, a 2008 drill hole that intersected 10 ft of 0.011
oz Au/t gold from 980 to 990 ft (3.0 m of 0.392 g Au/t from 298.8 to
301.8 m) within a sooty pyrite / silica-cemented breccia zone. This
mineralization occurred within a larger, lower-grade gold zone that
returned 230 ft of 0.004 oz Au/t from 970 to 1,200 ft (70.1 m of 0.140 g
Au/t from 295.7 to 365.8 m).
Queensgate has informed Miranda that they will terminate the exploration
funding agreement at Coal Canyon, BPV and CONO. Miranda will drop the
BPV and CONO projects while a new exploration funding partner will be
sought for Coal Canyon.
All drill samples were collected with a reverse circulation drill using
10 ft (3.05 m) sample intervals. Samples were assayed by SGS Minerals
Services in Toronto, Ontario. Gold results were determined using
standard fire assay techniques on 30-gr pulps. Queensgate QC/QA included
the insertion of standards and blanks on a regular basis, and the
collection of duplicate samples.
Project details
Coal Canyon consists of 64 unpatented lode claims ten miles (16 km)
south of Barrick's +12 million ounce Cortez Hills gold deposit. The
project covers a large percentage of the Windmill window, a geologic
feature exposing favorable lower-plate carbonate rocks. Rocks exposed in
the Windmill window are analogous to carbonate rocks that host the
Cortez Hills and Pipeline gold deposits.
For more information on Coal Canyon visit
The data disclosed in this press release have been reviewed and verified
by Company Geologist and Nevada Projects Manager 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,
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
Piedmont Mining Company Inc., Montezuma Mines Inc., NuLegacy
Corporation, Red Eagle Mining Corporation, Ramelius Resources Ltd., and
SIN Holdings Ltd.
ON BEHALF OF THE BOARD
'Kenneth Cunningham?
Kenneth Cunningham
President and CEO
For more information visit the Company′s web site at or contact Fiona Grant, Manager, Investor Relations 1-877-689-4580.
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.
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.
