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Miranda Gold Options Five Properties in Colombia
2011-01-20 12:53 ET - News Release
VANCOUVER, British Columbia -- (Business Wire)
Miranda Gold Corp. (“Miranda”) (TSX-V: MAD) announces the acquisition of five new properties through its Colombian subsidiary, Miranda Gold Colombia II Ltd. (“Miranda Gold Colombia”). The Cajamarca, Ibague, Fresno, Santander and Anori projects are optioned from ExpoGold Colombia S.A. (“ExpoGold”) and are subject to the Association Agreement between Miranda and ExpoGold.
Miranda has the right to acquire 100% of each of the five concessions by issuing 10,000 shares of Miranda common stock and making initial payments of US$10,000 to ExpoGold per property. In total Miranda will grant, subject to the rules and approval of the TSX Venture Exchange, 50,000 common shares of Miranda and make payments of $50,000 to ExpoGold. To maintain the options, payments and issuance of shares increase incrementally each subsequent anniversary year of each individual option agreement.
Miranda Gold Colombia will seek exploration funding partners for all five properties. Cajamarca, Ibague and Fresno will be offered as a single project due to their proximity to one another, while Santander and Anori will be optioned as two separate projects. The selection of these five properties concludes Miranda’s First Right of Refusal to option projects from the ExpoGold portfolio, as contained in the Association Agreement. See their website for full detals.
Major news! Optioning this property came really cheap! This could be HUGE!
Miranda Gold Options Five Properties in Colombia
Date : 01/20/2011 @ 12:53PM
Source : Business Wire
Miranda Gold Options Five Properties in Colombia
Miranda Gold Corp. (“Miranda”) (TSX-V: MAD) announces the acquisition of five new properties through its Colombian subsidiary, Miranda Gold Colombia II Ltd. (“Miranda Gold Colombia”). The Cajamarca, Ibague, Fresno, Santander and Anori projects are optioned from ExpoGold Colombia S.A. (“ExpoGold”) and are subject to the Association Agreement between Miranda and ExpoGold.
Miranda has the right to acquire 100% of each of the five concessions by issuing 10,000 shares of Miranda common stock and making initial payments of US$10,000 to ExpoGold per property. In total Miranda will grant, subject to the rules and approval of the TSX Venture Exchange, 50,000 common shares of Miranda and make payments of $50,000 to ExpoGold. To maintain the options, payments and issuance of shares increase incrementally each subsequent anniversary year of each individual option agreement.
Miranda Gold Colombia will seek exploration funding partners for all five properties. Cajamarca, Ibague and Fresno will be offered as a single project due to their proximity to one another, while Santander and Anori will be optioned as two separate projects. The selection of these five properties concludes Miranda’s First Right of Refusal to option projects from the ExpoGold portfolio, as contained in the Association Agreement.
Project Details
Cajamarca, Ibague and Fresno
The Cajamarca, Ibague and Fresno projects together cover a total of 45.1 sq. mi. (116.9 sq. km.) and lie within the department of Tolima and Quindio.
The Cajamarca project is comprised of two applications and one license totaling 30.5 sq. mi (78.9 sq. km). The geologic setting at Cajamarca consists of meta-sediments that have been intruded by Tertiary and Cretaceous-age stocks. Locally, the igneous stocks are both hydrothermally and tectonically altered. AngloGold Ashanti’s La Colosa gold porphyry discovery (13 million ounces) lies 6.2 mi (10 km) to the southeast of the main project area. Southwest-trending structures thought to be important to the mineralization at La Colosa are projected through the southern Cajamarca concession. Regional-scale public-domain geochemical data indicates several gold, lead, mercury and copper anomalies in an around the northern Cajamarca applications.
The Ibague project consists of two applications totaling 7.1 sq. mi (18.4 sq. km) and the Fresno project consist of one application covering 7.6 sq. mi (19.6 sq. km). Ibague and Fresno both have similar host rocks and igneous bodies to those found at Cajamarca but only limited regional investigations have been conducted. Public domain data shows historic gold workings in and around the application areas.
Plans are currently underway for evaluation of the Ibague and Fresno applications. Exploration work has thus far focused on the southern half of the northern Cajamarca applications and has consisted of a regional stream sediment program, a detailed geophysical airborne magnetic survey and a rock chip sampling program.
The high-resolution airborne magnetic survey was flown on 50 m line spacing with 500 m tie lines and is currently under review and interpretation. Preliminary results show a distinct north-east structure pattern with several interpreted buried intrusions following the same northeast trend. Rock chip samples average 0.006 oz Au/t (0.2 g Au/t) and range from less than detectable to 0.0141 oz Au/t (0.44 g Au/t). Preliminary mapping has revealed an unmapped multiphase intrusive breccia with very fine-grained disseminated pyrite. To date, 71 stream sediment samples and 24 stream pan concentrates have been taken on the Cajamarca project. Four anomalous drainages have been identified and will be investigated with a more detailed follow-up sampling program.
Santander
The Santander project consists of two applications covering 23.9 sq. mi (61.9 sq. km). The geologic setting at Santander consists of meta-sediments with localized alterations halos dominated by quartz veinlets, irregular breccias, fine-grained sulfides and magnetite.
The Santander applications are located 5.6 mi (9 km) northeast and 11.2 mi (18 km) southwest of Greystar’s Angostura gold deposit (9.8 million ounce) and 6.2 miles (10 km) northeast and 11.8 miles (19 km) southwest of Ventana’s La Bodega gold deposit (3.9 million ounce). The applications cover both the northeast and southwest extension of La Baja Faults and Rio Cucutilla fault systems thought to be the principle mineralizing structures for the La Bodega and Angostura deposits.
Plans are currently underway for evaluation of the Santander applications. Exploration work to date consists of a streamsediment sampling program centered on drainage basins along the La Baja fault system.
Anori
The Anori project, located in the Department of Antioquia, is comprised of four applications totaling 22.64 sq. mi (58.65 sq. km). The geologic setting at Anori consists of meta-sediments and upper Cretaceous marine sediments that have been intruded by Paleozoic and Upper Cretaceous-age igneous rocks.
Mineralized zones in the Anori area are dominated by mesothermal quartz veins, veinlets and shear zones. Although no major gold deposits are located in the area of Anori, public domain data indicates a high occurrence of recent artisan mining in the area, as well as numerous historic workings on the project. Miranda’s exploration work has focused on a stream-sediment sampling program and select rock chip sampling. A total of 42 rock chip samples have been taken averaging 0.041 oz Au/t (1.271.4 g Au/t) with a range from less than detectable to 0.097 oz Au/t (3.01 g Au/t). To date 20 stream-sediment samples have been taken on the Anori project identifying one anomalous drainage.
The data disclosed in this press release have been reviewed and verified by President & CEO Ken Cunningham, P.Geo, MSc. Geology and Quualified 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 Limited, Montezuma Mines Inc., Navaho Gold Pty Ltd., NuLegacy Gold Corporation, Piedmont Mining Company Inc., Ramelius Resources Ltd. and Red Eagle Mining Corporation.
ON BEHALF OF THE BOARD
“Kenneth Cunningham”
Kenneth Cunningham
President and CEO
For more information visit the Company’s web site at www.mirandagold.com 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
January 1st 2012, anyone want to take a stab at what they expect the stock price to be?
Miranda Gold Stakes Claims in South Pequop Mountains
Date : 12/15/2010 @ 9:41AM
Source : Business Wire
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Miranda Gold Stakes Claims in South Pequop Mountains
Miranda Gold Corp. (“Miranda”) (TSX VENTURE:MAD) staked 69 claims that comprise the East Spruce Project in the South Pequop Mountains in Elko County, Nevada. The project is located approximately 34 mi (55 km) southeast of Wells, Nevada and approximately 28 miles (45 km) to the south-southwest of Fronteer Gold’s Long Canyon gold deposit. The project covers approximately 2 sq mi. (5.2 sq. km).
Regional aeromagnetic data suggest that the East Spruce Project lies on the margin of a large buried intrusion that is part of a northeast alignment of intrusive rocks that extends 90 mi (150 km) from the Bald Mountain Mining District, located to the southwest, through the new Pequop (Long Canyon) Mining District to the northeast and farther northeast to the Tecoma (gold) District. Internal ore controls to deposits on this trend are also oriented northeast.
Miranda is pleased to be positioned in this northeast trend of intrusive rocks, which may reflect the orientation and locus of a newly emerging Nevada gold trend evidenced by the Long Canyon discovery (1.4 M ounce gold resource).
The geology of the East Spruce property and peripheral areas include north-northwest and northeast-trending faults, and a north-northwest-trending anticlinal fold of Lower Permian Pequop / Rib Hill Formations and the Pennsylvanian Riepe Spring Limestone. The Rib Hill Formation is a known host to gold mineralization in the Star Pointer gold deposit in the Robinson Mining District near Ely, Nevada. The project is 0.5 mi (0.8 Km) northeast of Cretaceous quartz/granite porphyry intrusive rocks historically explored for molybdenum and copper in the Spruce Mountain Mining District.
Notably, many significant Carlin-style deposits such as Goldstrike, Pipeline and Cortez Hills occur along the margins of intrusive rocks with associated folding.
Replacement silicification with anomalous gold occurs proximal to the north-northwest axis of the anticline and along north-south and northeast-trending fault zones in the anticlinal limb areas. The fold is about 2 mi (3.2 km) long by 1.5 mi (2.4 km) wide. The north-trending fault zone projects into pediment to the south.
At the north end of the property, gold values in rocks are anomalous over a strike length of 2,000 ft (610 m) in a silicified and decalcified north-south fault zone hosted by fossiliferous limestone of the Lower Pequop Formation. Seven rock samples collected along the 2,000 ft-long trend range from 0.004 to 0.016 oz Au/t (0.148 to 0.548 g Au/t) with anomalous silver, arsenic, mercury, and a variable antimony, lead, and zinc association. Anomalous lead and zinc may reflect distal zoning from the porphyry system to the southwest.
Minor historic drilling is indicated from existing reclamation at the East Spruce property. No information is currently available from that drilling.
Miranda plans to advance the project and surrounding area with additional sampling and mapping to further understand a northeast-trending gold-bearing system that covers an area of 2.5 mi (4 km) long and 0.75 mi (1.2 km) wide.
In keeping with Miranda’s business model as a prospect generator a joint venture partner will be sought to explore the East Spruce property.
The data disclosed in this press release have been reviewed and verified by President & CEO Ken Cunningham, P.Geo, 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 Limited, Montezuma Mines Inc., Navaho Gold Pty Ltd., NuLegacy Corporation, Piedmont Mining Company Inc., Ramelius Resources Ltd. and Red Eagle Mining Corporation.
ON BEHALF OF THE BOARD
“Kenneth Cunningham”
Kenneth Cunningham
President and CEO
For more information visit the Company’s web site at www.mirandagold.com.
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.
Hammer: You been damn good on your picks... WTF going on HERE?
made a bundle on NGBF pop... Thanks buddy..
What's a guy to do here??
Big Guys come back when the metal is more valuable?
"Barrick has made expenditures of over $1.3 million on the Red Hill project, not including costs associated with the 2008 drilling. Work completed by Barrick prior to the 2008 drilling included drilling 11 holes totaling 22,510 ft (6,861 m) as well as a property-wide gravity survey, an airborne magnetic survey, a controlled source audio-frequency magnetotellurics (CSAMT) survey and a property boundary survey. "
Miranda has not yet seen the assay results. Once Barrick receives the final assays and conducts internal quality control testing the results will be released to Miranda. In addition to the assay results, Barrick was facing an October 27, 2008 deadline to pay Miranda $150,000. This may have influenced their decision to terminate.
Got it cheif.....will check. Hammer
Board didn't pick up - where is the active board for Miranda.
Stock has advanced to the low 70s but I'm not aware of any findings to justify it - other than continued good press. The company benefits from a well wishing press but lacks drill results. Partners come and go - as many drop off the partnership rolls as sign on.
rjw
Hello and I hope all of you had a GREAT WEEKEND! Board should start picking up SOON! Hammer
Hello and Good Morning all. Miranda looking STRONG this week. Hammer
Hey Ladies and Gents, as I continue to do my DD and create a great HOME PAGE HERE@ MIRANDA, please input and help in any way shape or form make this the best board EVER. Thanks Hammer
Anyone think GOLD will be the HOTTEST SECTOR out there in '09? I do. Hammer
The Cortez area in NV. will be the most productive GOLD AREA's in the US. WOW! Hammer
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Miranda Reports Termination of Red Hill Agreement
VANCOUVER, BRITISH COLUMBIA, Oct 17, 2008 (Marketwire via COMTEX) -- Miranda Gold Corp. ("Miranda") (TSX VENTURE:MAD)(OTCBB:MRDDF)(FRANKFURT:MRG) has been informed by Barrick Gold Exploration Inc. ("Barrick") that they have elected to terminate the Exploration Funding Agreement with Option to Joint Venture on Miranda's Red Hill property.
Barrick recently completed drilling of two deep holes at Red Hill. Both holes were drilled in the vicinity of hole BRH-013, which in 2006 intercepted 45 ft 0.237 oz Au/t from 1,920 to 1,965 ft (13.7 m of 8.105 g Au/t from 585 to 599 m). Both holes were planned as follow up holes to BRH-013 but were collared at significant distances from the previous mineralized hole; 1,000 ft (305 m) to the southeast and 2,450 ft (750 m) to the west. A summary map showing the approximate location of the 2008 drill holes can be viewed on the Miranda website at www.mirandagold.com/s/Image.asp?i=photos/Red_Hill_Fig6_2008.jpg&id=309218.
According to Barrick, preliminary assay results were not encouraging and as a result a decision to terminate was made. Miranda has not yet seen the assay results. Once Barrick receives the final assays and conducts internal quality control testing the results will be released to Miranda. In addition to the assay results, Barrick was facing an October 27, 2008 deadline to pay Miranda $150,000. This may have influenced their decision to terminate.
Barrick has made expenditures of over $1.3 million on the Red Hill project, not including costs associated with the 2008 drilling. Work completed by Barrick prior to the 2008 drilling included drilling 11 holes totaling 22,510 ft (6,861 m) as well as a property-wide gravity survey, an airborne magnetic survey, a controlled source audio-frequency magnetotellurics (CSAMT) survey and a property boundary survey.
Miranda geologists strongly believe that additional targets exist in the area of BRH-013 and that the property has not yet been fully tested. Priority targets include the SE-strike extension of the CSAMT anomaly associated with the mineralization in BRH-013. A 1,300 ft by 1,700 ft greater than 20 ppb gold in soil anomaly is developed in a NW-striking syncline, with laterally-extensive hydrothermal alteration. Previous drill holes did not test this shallow target area.
Another target is identified proximal to the historic antimony pits on the east side of the project. Twenty holes were drilled in this area; however only three holes exceeded 700 ft depths. These three holes ended in 35-150 ppb gold. A review of historic drilling should be conducted to determine if the deeper holes intersected the favorable Red Hill member of the Denay, the unit hosting mineralization in BRH-013.
The Red Hill property is comprised of a mining lease covering 79 lode mining claims that occupy a large percentage of the "JD Window". The JD Window exposes lower-plate carbonate rocks that elsewhere in the Cortez Trend are the host rocks for disseminated gold deposits. Extensive hydrothermal activity has caused argillic alteration, decalcification, widespread iron oxide staining and silicification of the carbonate rocks. Anomalous gold mineralization is located in several prominent faults and is associated with barite and antimony mineralization.
Miranda will be actively seeking a new partner to continue exploration on this property.
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 Newcrest Resources Inc., the Cortez Joint Venture (Barrick Gold Exploration Inc.), the Buckhorn Joint Venture (Barrick and Teck) 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.
SOURCE: Miranda Gold Corp.
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