Miranda reports drilling results from the Pavo Real project in Colombia
09.07.2012 Vancouver, BC, Canada - Miranda Gold Corp. ("Miranda") (TSX-V: MAD) is pleased to announce the latest drilling results in the Pavo Real project in Colombia. Miranda's Red Eagle Mining Corporation (TSX-V: RD) has completed 11.150 foot drilling (3.400 m) in nine holes as part of this first program.
Drilling focused on determining the control structures that indicate mineralization. Target areas included quartz veins and veining systems embedded in sedimentary rock and hydrothermal breccia. The results of ongoing exploration activities and the results of these drill holes will be used to plan another drill program.
The most important mineralization sections are listed in the following table. Key mineralized sections are values of at least 0,010 ounces of gold per tonne (0,343 g Au / t). The true width of the mineralization is approximately 90% of the drill section, the vertical depth is approximately 70% of the section depth.
Miranda and Red Eagle are very optimistic because of the numerous anomalous intersections. Phase I drilling has partially tested target areas around the La Cruzada and Quebrada Virgen tunnels and the breccia rocks on the west side of the property. In a target area in the southeastern portion of the property, where sandstone and limestone meet intrusive rock, no test drilling has been completed. Upon receiving an appropriate drilling permit, Red Eagle intends to explore this area for sedimentary-hosted, disseminated mineralization.
All drill samples were obtained using a diamond drill with the sample sections approximately 0,5 to 2m. Sampling was carried out according to industry-standard methods. The samples were processed by Acme Analytical Laboratories in Medellin, Colombia and analyzed in Santiago, Chile. The gold content was determined by fire assay (30 g sample weight) and subsequent atomic absorption (AA). Samples with a gold content above 10 g / t were analyzed again and finally analyzed gravimetrically. As part of quality control, numerous standard and blank samples were regularly taken and continuously reviewed. In addition, sample inspections were also carried out in other recognized laboratories.
Details of the project
Pavo Real is located in the Tolima district of 12,4 miles (20 km) south of the city of Ibague and 27,9 miles (45 km) southeast of the La Colosa project, owned by AngloGold Ashanti. Pavo Real is a major project that covers an area of approximately 48,9 square kilometers. In the sedimentary rock, in the veins and in the breccia rock pronounced gold values were determined on the surface. Radiometric measurements revealed pronounced anomalies, which are considered to be potassium age changes and co-exist with mapped structures, historic mines, and samples with exceptional gold contents. For 1.040 samples taken on the property, 540 rock samples had gold values above 0,003 ounces per ton (0,1 g Au / t). One of the most significant surface sampling results is a section with 135 feet and 0,043 ounces gold / ton (41 m with 1,47 g Au / t).
All information published in this news release, including analysis and test results, has been provided by Joseph Hebert, Vice President of Exploration, CPG, BSc. in Geology, in his capacity as Qualified Person under National Instrument 43-101.
Company Profile
Miranda Gold Corp. is a gold exploration company based in Nevada, Alaska and Colombia. The focus is on gold exploration projects that have the best prospects of discovering high quality gold deposits. Miranda performs her own basic exploration work and then applies a joint venture business model to his projects. The aim is to optimize the findings and minimize the exploration risk at the same time. Miranda currently works with partner companies Agnico-Eagle (USA) Inc., Montezuma Mines Inc., Navaho Gold Ltd., NuLegacy Corporation, Ramelius Resources Ltd. and Red Eagle Mining Corporation together.
FOR THE BOARD
"Kenneth Cunningham"
Kenneth Cunningham
President and CEO
Further information:
www.mirandagold.com or Joe Hebert, Vice President Exploration, Tel. 1-775-738-1877.
Disclaimer:
The TSX Venture Exchange and its regulators (referred to in the Articles of Association of the TSX Venture Exchange as Regulation Services Providers) accept no responsibility for the adequacy or accuracy of this announcement.
In addition, US investors are cautioned that mineral deposits in adjacent deposits are not indicative of mineral deposits in our deposits. We advise US investors that the SEC's Mining Rules strictly prohibit such information in filings with the SEC.
This press release contains forward-looking statements based on current expectations and estimates of the company. Forward-looking statements often include words such as "plan," "expect," "forecast," "intend," "believe," "anticipate," "estimate," "accept," "suggest," and similar expressions or statements. according to which certain events or conditions "can" or "become". These forward-looking statements are subject to risks and uncertainties and other factors that could cause actual events or results to differ materially from the anticipated events or results expressed or implied by such forward-looking statements. These factors include actual results of current exploration activities; Conclusions on economic valuations; Changes in the framework conditions of projects in the course of further planning; possible deviations in ore content and yield; accidents; labor disputes and other risks arising in the mining industry; Delays in regulatory approval or financing transactions; and fluctuations in metal prices. Other factors may cause actions, events or results to be different than expected, estimated or intended. Forward-looking statements relate solely to the time at which they are prepared. The Company therefore has no intention or obligation to update these forward-looking statements, whether as a result of new information or future events or results or otherwise, except as required by applicable securities laws. Forward-looking statements are not guarantees of future performance and it is therefore advisable not to overstate such statements due to uncertainties therein.
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