Miranda Gold Reports Carlin-Style Gold Mineralization at Coal Canyon
22 September 2008 - 5:43PM
Marketwired
Miranda Gold Corp. ("Miranda") (TSX VENTURE: MAD)(OTCBB:
MRDDF)(FRANKFURT: MRG) is pleased to report that the 2008 drill
program at Coal Canyon intersected a thick section of anomalous
gold mineralization at the Coal Canyon project in Eureka County,
Nevada. In August 2008 Queensgate Resources Corporation
("Queensgate"), Miranda's exploration funding partner, completed
1,950 ft (594.5 m) of reverse-circulation drilling in two vertical
holes.
Past exploration focused on the northwest-trending Grouse Creek
fault that lies on adjacent claims controlled by others. Historic
drilling along this fault has reportedly encountered gold
mineralization of up to 85 ft of 0.022 oz Au/t (26m of 0.754 g
Au/t) in the Hanson Creek dolomite and the underlying Eureka
quartzite. Gold mineralization is associated with altered dikes,
iron oxides and silicification.
The two recently-completed holes were designed to evaluate
hydrothermally altered and geochemically-anomalous zones developed
at north / northeast-striking fault intersections and to establish
depths of favorable stratigraphic horizons on Miranda's Coal Canyon
project. Drill results are summarized below:
Interval Length Grade Length Grade
Hole (ft) (ft) (oz Au/t) (m) (g Au/t)
MCC-003 no significant assays
MCC-004 970-1,200 230 0.004 70.1 0.140
including 980-990 10 0.011 3.1 0.392
Hole MCC-003 was drilled to a depth of 750 ft (228.7m) and
intersected the Roberts Mountains Formation, an attenuated section
of the Hanson Creek Formation and the upper Eureka Formation. Zones
of hydrothermal alteration (decalcification, silicification and/or
iron oxidation) from 40 to 70 feet-thick (12 to 21 m) were focused
along the Roberts Mountain/Hanson and Hanson/Eureka formational
contacts.
Hole MCC-004 was drilled 1,360 ft (415 m) north of MCC-003 to a
depth of 1,200 ft (365.8m). The hole intersected the lower half of
the Roberts Mountains Formation and the upper, middle and a portion
of the lower Hanson Creek Formation. Both of these formations are
lower plate host rocks to mineralization elsewhere in the Carlin
and Cortez Trends. Hydrothermal alteration in the form of
decalcification, silicification, sooty pyrite cemented breccias,
quartz-dolomite veins and disseminated sphalerite were best
developed in the middle and lower Hanson Creek Formation. The hole
intersected 10 ft of 0.011 oz Au/t gold from 980 to 990 (3.0m of
0.392g 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 (70.1m of 0.140g Au/t from 295.7 to 365.8m).
The hole ended in anomalous gold mineralization.
Drill results in MCC-004 are significant as they represent the
first Carlin-style, disseminated gold mineralization discovered on
the Coal Canyon project. These results will assist in the planning
of future drilling programs.
All drill samples were collected with a reverse circulation
drill using 10 ft (3.1m) sample intervals. Samples were assayed 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. QC/QA included the insertion of
standards and blanks on a regular basis, and the collection of
duplicate samples.
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.
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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