Wednesday, June 21, 2006 12:20:54 PM
Miramar Reports Further Progress in Outlining Pit Possibility at Madrid
Tuesday June 20, 1:39 pm ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jun 20, 2006 -- Significant drill results at Madrid with intercepts of 3.2g/t Au over 164m and 9.1g/t Au over 38.3m
Miramar Mining Corporation (TSX:MAE.TO - News)(AMEX:MNG - News) today announced more significant results from the 2006 drilling program at its Hope Bay Project in Nunavut. The program is focussed on the Madrid district, where drills were testing for newly defined mineralization that would enhance the possibility of a large pit concept at Madrid. The latest shallow Suluk infill drilling as well as drilling along the southern extension of Suluk has exceeded expectations.
Miramar embarked on the 2006 exploration campaign at Hope Bay with the objective of defining a second phase of production on the belt following the proposed Doris North Project which is now in the permitting process. The second phase options include two scenarios: a) a 350,000 ounce per year open pit/underground operation; and b) a large pit concept.
Based on previous modeling of the deposits, preliminary open pit designs in the Madrid area (which includes the Naartok, Rand and Suluk deposits) illustrated the potential for two or more small shallow pits to exploit the Madrid resource. Modelling completed at the end of 2005 indicated the potential for much larger scale open pit operations. Therefore, in an effort to maximize the economics of any potential open pit, 2006 drilling was planned and is ongoing with the objective of determining the continuity of mineralization between these deposits (the gaps), as well as indicating the previously identified mineralization extends to depth. This will determine the optimal through put for any contemplated mill.
The winter program focused on completing drilling off the lake which primarily tested the Suluk targets. Drilling to date has returned significant results which infilled and expanded the previously modeled mineralization at Suluk. Some of the more significant results include 06PMD428 which returned 28.0 m grading 11.28g/t gold and 06PMD427 intersected a broad mineralized interval of 3.2g/t Au over 164m including two intervals of 51.2 m grading 3.3g/t gold and 52.5m grading over 4.6g/t gold. Extending mineralization to depth at Suluk and finding mineralization in the gaps at Madrid could possibly support a deeper wider pit, which could increase tonnage and potentially lower costs enhancing the economics of any contemplated large pit concept.
"This year's primary focus is now to determine the size of the possible second phase of production at Hope Bay," said Tony Walsh, Miramar's President and CEO. "With the work done and the results received to date, it is evident that at Madrid, the work needs to now focus on size. With a view to determining the optimal mining and milling capacity, drilling will be completed in the 2006 program to determine tonnage potential. Miramar intends to complete studies by the end of 2006 to outline various capacities of potential production anchored at Madrid from which to choose the best option."
2006 Madrid Program
The goals of the campaign are to:
- seek to expand existing resources to enhance project economics
- upgrade resources by infill drilling
- aggressively seek to extend the Madrid system
- complete initial drilling to determine the potential size of a Large Pit Scenario
A program of ice based infill and expansion drilling around the key Madrid zones has been underway since mid-March to meet these objectives. A total of 26,500 metres in 83 holes has been completed to date with results available a further 22 holes. The first 32 Madrid holes were reported on Miramar news release dated May 25, 2006, which can be found on the company website at www.miramarmining.com. Results for the new holes are presented below.
Suluk and South Suluk
A project of infill drilling the upper 250m of the Suluk resource targeting the upper 100 meters and strike extensions to the north and south has been completed. Drilling has successfully identified the Suluk mineralization extends northwards towards the Rand and Naartok deposits indicating continuity of the mineralizing system between the resource areas. Additionally drilling has also extended the Suluk mineralization southwards with all holes returning results equivalent to or better than grades and thicknesses expected based on data from surrounding holes. Examples include 06PMD428 in the shallow northern portion of the deposit returning 9.1g/t Au over 38.3m and 06PMD427 at the south end of the resource area intersected a broad mineralized interval of 3.2g/t Au over 164.2m including two intervals of 3.3g/t Au over 51.2 m and 6.0g/t Au over 52.5m.
Suluk & South Suluk highlights
Hole ID Area From (m) To (m) Length (m) Au (g/t)
------- ---- ------- ----- --------- -------
PMD418 Suluk 20.7 25.2 4.5 8.7
and 168.5 169.0 0.5 371.0
PMD420 Suluk 72.0 87.1 15.1 6.1
PMD421 Suluk 61.7 68.6 6.9 16.0
PMD427 Suluk 138.2 302.5 164.2 3.2
including 158.5 210.6 52.1 3.3
including 250.0 302.6 52.5 6.0
PMD428 Suluk 50.5 88.8 38.3 9.1
including 50.5 71.1 20.6 12.8
PMD429 Suluk 250.9 264.5 13.6 4.7
PSD 115 South of Suluk 107.8 110.2 2.4 15.4
PSD117 South of Suluk 129.4 129.7 0.3 196.5
Rand Gap Areas
Drilling at Rand infilled between wide spaced holes targeting higher grade zones, and extended mineralization on strike and down dip into gap areas between Naartok, Rand and Suluk. This drilling has demonstrated that the mineralizing system with low to moderate values has continuity between our resource areas and in the process has also intersected shallow zones of significant grades and thicknesses. Some significant results to date include 06PMD430 returning 2.9g/t gold over 14.0m and 06PMD426 returning 3.6g/t Au over 12.6m.
Rand Gap Highlights:
Hole ID Area From (m) To (m) Length (m) Au (g/t)
------- ---- ------- ----- --------- -------
PMD419 Rand Suluk Gap 368.9 379.5 10.6 5.5
Including 370.9 376.5 5.6 9.1
PMD 426 Rand Suluk Gap 207.9 220.5 12.6 3.6
Naartok Expansion and Infill
Drilling at Madrid has shifted to the Naartok-Rand gap and Naartok East deposits. Initial drill targets are larger stepout holes utilizing two to three core drills. The Naartok drilling will expand to five to seven drills in mid July. Results from this drilling are pending.
2006 Boston
The Boston B4 evaluation is ongoing with four holes completed to date. The B4 zone is a sparsely drilled vein system which is parallel to the main B2 and B3 zones that comprise the bulk of the Boston resource. This project is targeting higher grade intercepts from previous drilling is areas with greater than 200 metre drill spacing. Results from these initial holes are pending.
Miramar Mining Corporation
Miramar is a Canadian gold company that controls the Hope Bay project, the largest undeveloped gold project in Canada. The Hope Bay project extends over 1,000 sq. km. and encompasses one of the most prospective undeveloped greenstone belts in Canada. Miramar aims to become an intermediate gold producer through the integrated development of the Hope Bay belt. Any production at Hope Bay is subject to positive feasibility studies, permitting and regulatory approval, the availability of financing and other contingencies.
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by John Wakeford, P. Geo. Vice President, Exploration for Miramar Mining Corporation, and the Qualified Person for the Company as set out in NI 43-101. The analytical method for the gold analyses is gravimetric assay done by ALS Chemex Laboratories in North Vancouver with metallic screen assays for all samples assaying over 20g/t gold. Check assays are completed by TSL in Saskatoon.
Assay intervals reported are drill core lengths. Geologic interpretation of drill results is underway. However, it is estimated that true widths would generally be at least 70-80% of reported core lengths.
Additional Information
Diagrams and tables detailing some of the matters described herein are attached to this news release. If you are missing these, please download this news release from Miramar's website at http://www.miramarmining.com/, to which they are attached, or contact us at the numbers listed below. All other information previously released on the Hope Bay Project is also available on this website.
Statements relating to exploration work at the Hope Bay project and the expected costs and results of this work and statements regarding the planned program for 2006, proposed feasibility studies and possible production strategies are forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in gold prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold reserves and resources; the possibility that required permits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; the possibility that the estimated recovery rates may not be achieved; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Miramar's operations and other risks and uncertainties, including those described in the Miramar's Annual Report on Form 40-F for the year ended December 31, 2005 and Reports on Form 6-K filed with the Securities and Exchange Commission.
Forward-looking statements are based on the beliefs, estimates and opinions of Miramar's management on the date the statements are made. Miramar undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.
This news release has been authorized by the undersigned on behalf of Miramar Mining Corporation.
Anthony P. Walsh, President & CEO, Miramar Mining Corporation
To view the maps attached to this release please click on the following link: http://www.ccnmatthews.com/docs/mae0620.pdf
--------------------------------------------------------------------
Core Gold
From To Length Grade
Hole-ID Zone (m) (m) (m) (g/t)
--------------------------------------------------------------------
06PMD417 Suluk 331.3 331.9 0.6 90.6
--------------------------------------------------------------------
And 426.3 427.8 1.5 2.1
--------------------------------------------------------------------
And 433.4 439.4 6.0 5.3
--------------------------------------------------------------------
Including 434.9 436.4 1.5 12.3
--------------------------------------------------------------------
And 453.0 461.1 8.1 2.6
--------------------------------------------------------------------
Including 457.9 459.4 1.5 6.5
--------------------------------------------------------------------
And 472.6 473.7 0.9 2.9
--------------------------------------------------------------------
And 476.9 480.9 4.0 4.2
--------------------------------------------------------------------
Including 476.9 478.5 1.6 6.2
--------------------------------------------------------------------
And 520.2 521.2 1.0 4.2
--------------------------------------------------------------------
And 526.2 527.1 0.9 4.8
--------------------------------------------------------------------
And 561.5 563.1 1.6 3.3
--------------------------------------------------------------------
Including 562.4 563.1 0.7 5.3
--------------------------------------------------------------------
--------------------------------------------------------------------
006PMD41 Suluk 20.1 32.0 11.9 5.4
--------------------------------------------------------------------
Including 20.7 25.2 4.5 8.7
--------------------------------------------------------------------
Including 29.7 31.0 1.3 8.5
--------------------------------------------------------------------
And 35.7 42.8 7.1 4.8
--------------------------------------------------------------------
Including 37.0 38.2 1.2 12.3
--------------------------------------------------------------------
And 60.0 63.5 3.5 3.1
--------------------------------------------------------------------
And 86.7 97.0 10.3 2.8
--------------------------------------------------------------------
Including 86.7 90.0 3.3 5.8
--------------------------------------------------------------------
And 165.8 170.5 4.7 42.1
--------------------------------------------------------------------
Including 168.5 169.0 0.5 371.0
--------------------------------------------------------------------
--------------------------------------------------------------------
06PMD419 Rand Suluk Gap 46.0 47.5 1.5 3.1
--------------------------------------------------------------------
And 368.9 379.5 10.6 5.5
--------------------------------------------------------------------
Including 370.9 376.5 5.6 9.1
--------------------------------------------------------------------
--------------------------------------------------------------------
06PMD420 Suluk 25.0 27.1 2.1 2.5
--------------------------------------------------------------------
And 57.0 66.0 9.0 2.5
--------------------------------------------------------------------
Including 60.5 61.7 1.2 8.8
--------------------------------------------------------------------
And 72.0 87.1 15.1 6.1
--------------------------------------------------------------------
Including 72.0 75.2 3.2 20.8
--------------------------------------------------------------------
Including 86.1 87.1 1.0 5.6
--------------------------------------------------------------------
--------------------------------------------------------------------
And 123.0 128.8 5.8 2.4
--------------------------------------------------------------------
Including 128.0 128.8 0.8 6.8
--------------------------------------------------------------------
--------------------------------------------------------------------
06PMD421 Suluk 40.3 51.6 11.3 1.8
--------------------------------------------------------------------
And 61.7 68.6 6.9 16.0
--------------------------------------------------------------------
Including 63.2 67.1 3.9 26.3
--------------------------------------------------------------------
And 71.6 76.1 4.5 5.7
--------------------------------------------------------------------
Including 73.9 74.6 0.7 22.7
--------------------------------------------------------------------
And 79.1 82.1 3.0 2.6
--------------------------------------------------------------------
And 104.5 107.1 2.6 2.7
--------------------------------------------------------------------
Including 104.5 105.3 0.8 6.6
--------------------------------------------------------------------
--------------------------------------------------------------------
06PMD422 Suluk 321.0 326.8 5.8 2.4
--------------------------------------------------------------------
Including And 322.0 322.3 0.3 5.3
--------------------------------------------------------------------
Further Assays Pending
--------------------------------------------------------------------
--------------------------------------------------------------------
06PMD423 Suluk 78.3 79.0 0.7 2.9
--------------------------------------------------------------------
--------------------------------------------------------------------
06PMD424 n/a Abandoned
--------------------------------------------------------------------
--------------------------------------------------------------------
06PMD425 Suluk Rand Gap 333.8 335.3 1.5 2.0
--------------------------------------------------------------------
--------------------------------------------------------------------
06PMD426 Suluk Rand Gap 166.7 168.6 1.9 2.2
--------------------------------------------------------------------
Including 166.7 167.1 0.4 7.9
--------------------------------------------------------------------
And 207.9 220.5 12.6 3.6
--------------------------------------------------------------------
Including 209.4 210.6 1.2 5.9
--------------------------------------------------------------------
Including 215.1 218.1 3.0 7.7
--------------------------------------------------------------------
--------------------------------------------------------------------
06PMD427 Suluk 138.2 302.5 164.2 3.2
--------------------------------------------------------------------
Including 138.2 139.3 1.1 4.5
--------------------------------------------------------------------
Including 148.0 149.8 1.8 7.0
--------------------------------------------------------------------
Including 158.5 210.6 52.1 3.3
--------------------------------------------------------------------
Including 161.5 164.0 2.5 8.0
--------------------------------------------------------------------
Including 170.0 175.8 5.8 7.3
--------------------------------------------------------------------
Including 180.3 182.7 2.4 5.7
--------------------------------------------------------------------
Including 187.8 189.3 1.5 5.1
--------------------------------------------------------------------
Including 250.0 302.5 52.5 6.0
--------------------------------------------------------------------
Including 250.7 252.2 1.5 5.7
--------------------------------------------------------------------
Including 255.2 260.7 5.5 5.4
--------------------------------------------------------------------
Including 272.6 279.8 7.2 7.6
--------------------------------------------------------------------
Including 282.8 290.9 8.1 17.4
--------------------------------------------------------------------
Including 297.4 302.5 5.1 4.0
--------------------------------------------------------------------
Including 298.7 299.5 0.8 14.6
--------------------------------------------------------------------
--------------------------------------------------------------------
06PMD428 Suluk 50.5 88.8 38.3 9.1
--------------------------------------------------------------------
Including 50.5 71.1 20.6 12.8
--------------------------------------------------------------------
Including 73.5 77.2 3.7 13.5
--------------------------------------------------------------------
Including 73.5 75.0 1.5 29.2
--------------------------------------------------------------------
Including 85.1 88.8 3.7 8.5
--------------------------------------------------------------------
Including 85.1 88.0 2.9 10.1
--------------------------------------------------------------------
And 102.0 106.5 4.5 6.4
--------------------------------------------------------------------
Including 102.0 103.9 1.9 12.2
--------------------------------------------------------------------
And 166.7 168.2 1.5 4.2
--------------------------------------------------------------------
And 299.0 300.0 1.0 3.9
--------------------------------------------------------------------
--------------------------------------------------------------------
06PMD429 Suluk 98.0 99.5 1.5 53.1
--------------------------------------------------------------------
And 218.2 228.7 10.5 2.1
--------------------------------------------------------------------
Including 221.2 225.7 4.5 3.8
--------------------------------------------------------------------
And 234.7 237.4 2.8 6.2
--------------------------------------------------------------------
And 250.9 264.5 13.6 4.7
--------------------------------------------------------------------
Including 253.0 260.3 7.3 7.7
--------------------------------------------------------------------
And 297.2 298.7 1.5 6.6
--------------------------------------------------------------------
And 334.3 337.3 3.0 2.6
--------------------------------------------------------------------
And 346.9 348.0 1.1 3.0
--------------------------------------------------------------------
--------------------------------------------------------------------
06PSD115A South Suluk 107.8 110.2 2.4 15.4
--------------------------------------------------------------------
Including 107.8 109.3 1.5 23.0
--------------------------------------------------------------------
And 143.8 144.9 1.1 4.1
--------------------------------------------------------------------
And 382.6 383.7 1.1 2.3
--------------------------------------------------------------------
And 393.3 398.2 4.9 2.7
--------------------------------------------------------------------
Including 395.8 397.3 1.5 5.7
--------------------------------------------------------------------
--------------------------------------------------------------------
06PSD116 South Suluk 88.4 92.9 4.5 2.9
--------------------------------------------------------------------
And 143.8 144.9 1.1 4.1
--------------------------------------------------------------------
And 382.6 383.7 1.1 2.3
--------------------------------------------------------------------
And 393.3 398.2 4.9 2.7
--------------------------------------------------------------------
Including 395.8 397.3 1.5 5.7
--------------------------------------------------------------------
--------------------------------------------------------------------
06PSD117 South Suluk 40.5 43.4 2.9 2.0
--------------------------------------------------------------------
Including 40.5 41.0 0.5 7.0
--------------------------------------------------------------------
And 47.8 48.2 0.4 3.4
--------------------------------------------------------------------
And 129.4 129.7 0.3 196.5
--------------------------------------------------------------------
And 143.5 147.0 3.5 2.3
--------------------------------------------------------------------
Including 146.0 147.0 1.0 5.9
--------------------------------------------------------------------
--------------------------------------------------------------------
06PSD119 South Fence No Significant Assays
--------------------------------------------------------------------
--------------------------------------------------------------------
06PSD120 South Fence 230.6 233.0 2.4 5.5
--------------------------------------------------------------------
Including 230.6 232.0 1.4 8.3
--------------------------------------------------------------------
And 255.5 257.0 1.5 3.9
--------------------------------------------------------------------
--------------------------------------------------------------------
06PSD121 South Fence No Significant Assays
--------------------------------------------------------------------
--------------------------------------------------------------------
06PSD122 South Fence No Significant Assays
--------------------------------------------------------------------
--------------------------------------------------------------------
06PSD123 South Suluk 380.0 380.9 0.9 13.1
--------------------------------------------------------------------
449.0 449.3 0.3 4.3
--------------------------------------------------------------------
And 452.5 458.2 5.7 1.5
--------------------------------------------------------------------
And 452.5 452.9 0.4 8.1
--------------------------------------------------------------------
--------------------------------------------------------------------
06PSD124 South Suluk No Significant Assays
--------------------------------------------------------------------
--------------------------------------------------------------------
06PSD125 197.0 199.4 2.4 2.3
--------------------------------------------------------------------
Contact:
Contacts:
Miramar Mining Corporation
Anthony P. Walsh
President & CEO
(604) 985-2572 or Toll Free: 1-800-663-8780
(604) 980-0731 (FAX)
info@miramarmining.com
http://www.miramarmining.com
--------------------------------------------------------------------------------
Source: Miramar Mining Corporation
Tuesday June 20, 1:39 pm ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jun 20, 2006 -- Significant drill results at Madrid with intercepts of 3.2g/t Au over 164m and 9.1g/t Au over 38.3m
Miramar Mining Corporation (TSX:MAE.TO - News)(AMEX:MNG - News) today announced more significant results from the 2006 drilling program at its Hope Bay Project in Nunavut. The program is focussed on the Madrid district, where drills were testing for newly defined mineralization that would enhance the possibility of a large pit concept at Madrid. The latest shallow Suluk infill drilling as well as drilling along the southern extension of Suluk has exceeded expectations.
Miramar embarked on the 2006 exploration campaign at Hope Bay with the objective of defining a second phase of production on the belt following the proposed Doris North Project which is now in the permitting process. The second phase options include two scenarios: a) a 350,000 ounce per year open pit/underground operation; and b) a large pit concept.
Based on previous modeling of the deposits, preliminary open pit designs in the Madrid area (which includes the Naartok, Rand and Suluk deposits) illustrated the potential for two or more small shallow pits to exploit the Madrid resource. Modelling completed at the end of 2005 indicated the potential for much larger scale open pit operations. Therefore, in an effort to maximize the economics of any potential open pit, 2006 drilling was planned and is ongoing with the objective of determining the continuity of mineralization between these deposits (the gaps), as well as indicating the previously identified mineralization extends to depth. This will determine the optimal through put for any contemplated mill.
The winter program focused on completing drilling off the lake which primarily tested the Suluk targets. Drilling to date has returned significant results which infilled and expanded the previously modeled mineralization at Suluk. Some of the more significant results include 06PMD428 which returned 28.0 m grading 11.28g/t gold and 06PMD427 intersected a broad mineralized interval of 3.2g/t Au over 164m including two intervals of 51.2 m grading 3.3g/t gold and 52.5m grading over 4.6g/t gold. Extending mineralization to depth at Suluk and finding mineralization in the gaps at Madrid could possibly support a deeper wider pit, which could increase tonnage and potentially lower costs enhancing the economics of any contemplated large pit concept.
"This year's primary focus is now to determine the size of the possible second phase of production at Hope Bay," said Tony Walsh, Miramar's President and CEO. "With the work done and the results received to date, it is evident that at Madrid, the work needs to now focus on size. With a view to determining the optimal mining and milling capacity, drilling will be completed in the 2006 program to determine tonnage potential. Miramar intends to complete studies by the end of 2006 to outline various capacities of potential production anchored at Madrid from which to choose the best option."
2006 Madrid Program
The goals of the campaign are to:
- seek to expand existing resources to enhance project economics
- upgrade resources by infill drilling
- aggressively seek to extend the Madrid system
- complete initial drilling to determine the potential size of a Large Pit Scenario
A program of ice based infill and expansion drilling around the key Madrid zones has been underway since mid-March to meet these objectives. A total of 26,500 metres in 83 holes has been completed to date with results available a further 22 holes. The first 32 Madrid holes were reported on Miramar news release dated May 25, 2006, which can be found on the company website at www.miramarmining.com. Results for the new holes are presented below.
Suluk and South Suluk
A project of infill drilling the upper 250m of the Suluk resource targeting the upper 100 meters and strike extensions to the north and south has been completed. Drilling has successfully identified the Suluk mineralization extends northwards towards the Rand and Naartok deposits indicating continuity of the mineralizing system between the resource areas. Additionally drilling has also extended the Suluk mineralization southwards with all holes returning results equivalent to or better than grades and thicknesses expected based on data from surrounding holes. Examples include 06PMD428 in the shallow northern portion of the deposit returning 9.1g/t Au over 38.3m and 06PMD427 at the south end of the resource area intersected a broad mineralized interval of 3.2g/t Au over 164.2m including two intervals of 3.3g/t Au over 51.2 m and 6.0g/t Au over 52.5m.
Suluk & South Suluk highlights
Hole ID Area From (m) To (m) Length (m) Au (g/t)
------- ---- ------- ----- --------- -------
PMD418 Suluk 20.7 25.2 4.5 8.7
and 168.5 169.0 0.5 371.0
PMD420 Suluk 72.0 87.1 15.1 6.1
PMD421 Suluk 61.7 68.6 6.9 16.0
PMD427 Suluk 138.2 302.5 164.2 3.2
including 158.5 210.6 52.1 3.3
including 250.0 302.6 52.5 6.0
PMD428 Suluk 50.5 88.8 38.3 9.1
including 50.5 71.1 20.6 12.8
PMD429 Suluk 250.9 264.5 13.6 4.7
PSD 115 South of Suluk 107.8 110.2 2.4 15.4
PSD117 South of Suluk 129.4 129.7 0.3 196.5
Rand Gap Areas
Drilling at Rand infilled between wide spaced holes targeting higher grade zones, and extended mineralization on strike and down dip into gap areas between Naartok, Rand and Suluk. This drilling has demonstrated that the mineralizing system with low to moderate values has continuity between our resource areas and in the process has also intersected shallow zones of significant grades and thicknesses. Some significant results to date include 06PMD430 returning 2.9g/t gold over 14.0m and 06PMD426 returning 3.6g/t Au over 12.6m.
Rand Gap Highlights:
Hole ID Area From (m) To (m) Length (m) Au (g/t)
------- ---- ------- ----- --------- -------
PMD419 Rand Suluk Gap 368.9 379.5 10.6 5.5
Including 370.9 376.5 5.6 9.1
PMD 426 Rand Suluk Gap 207.9 220.5 12.6 3.6
Naartok Expansion and Infill
Drilling at Madrid has shifted to the Naartok-Rand gap and Naartok East deposits. Initial drill targets are larger stepout holes utilizing two to three core drills. The Naartok drilling will expand to five to seven drills in mid July. Results from this drilling are pending.
2006 Boston
The Boston B4 evaluation is ongoing with four holes completed to date. The B4 zone is a sparsely drilled vein system which is parallel to the main B2 and B3 zones that comprise the bulk of the Boston resource. This project is targeting higher grade intercepts from previous drilling is areas with greater than 200 metre drill spacing. Results from these initial holes are pending.
Miramar Mining Corporation
Miramar is a Canadian gold company that controls the Hope Bay project, the largest undeveloped gold project in Canada. The Hope Bay project extends over 1,000 sq. km. and encompasses one of the most prospective undeveloped greenstone belts in Canada. Miramar aims to become an intermediate gold producer through the integrated development of the Hope Bay belt. Any production at Hope Bay is subject to positive feasibility studies, permitting and regulatory approval, the availability of financing and other contingencies.
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by John Wakeford, P. Geo. Vice President, Exploration for Miramar Mining Corporation, and the Qualified Person for the Company as set out in NI 43-101. The analytical method for the gold analyses is gravimetric assay done by ALS Chemex Laboratories in North Vancouver with metallic screen assays for all samples assaying over 20g/t gold. Check assays are completed by TSL in Saskatoon.
Assay intervals reported are drill core lengths. Geologic interpretation of drill results is underway. However, it is estimated that true widths would generally be at least 70-80% of reported core lengths.
Additional Information
Diagrams and tables detailing some of the matters described herein are attached to this news release. If you are missing these, please download this news release from Miramar's website at http://www.miramarmining.com/, to which they are attached, or contact us at the numbers listed below. All other information previously released on the Hope Bay Project is also available on this website.
Statements relating to exploration work at the Hope Bay project and the expected costs and results of this work and statements regarding the planned program for 2006, proposed feasibility studies and possible production strategies are forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in gold prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold reserves and resources; the possibility that required permits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; the possibility that the estimated recovery rates may not be achieved; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Miramar's operations and other risks and uncertainties, including those described in the Miramar's Annual Report on Form 40-F for the year ended December 31, 2005 and Reports on Form 6-K filed with the Securities and Exchange Commission.
Forward-looking statements are based on the beliefs, estimates and opinions of Miramar's management on the date the statements are made. Miramar undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.
This news release has been authorized by the undersigned on behalf of Miramar Mining Corporation.
Anthony P. Walsh, President & CEO, Miramar Mining Corporation
To view the maps attached to this release please click on the following link: http://www.ccnmatthews.com/docs/mae0620.pdf
--------------------------------------------------------------------
Core Gold
From To Length Grade
Hole-ID Zone (m) (m) (m) (g/t)
--------------------------------------------------------------------
06PMD417 Suluk 331.3 331.9 0.6 90.6
--------------------------------------------------------------------
And 426.3 427.8 1.5 2.1
--------------------------------------------------------------------
And 433.4 439.4 6.0 5.3
--------------------------------------------------------------------
Including 434.9 436.4 1.5 12.3
--------------------------------------------------------------------
And 453.0 461.1 8.1 2.6
--------------------------------------------------------------------
Including 457.9 459.4 1.5 6.5
--------------------------------------------------------------------
And 472.6 473.7 0.9 2.9
--------------------------------------------------------------------
And 476.9 480.9 4.0 4.2
--------------------------------------------------------------------
Including 476.9 478.5 1.6 6.2
--------------------------------------------------------------------
And 520.2 521.2 1.0 4.2
--------------------------------------------------------------------
And 526.2 527.1 0.9 4.8
--------------------------------------------------------------------
And 561.5 563.1 1.6 3.3
--------------------------------------------------------------------
Including 562.4 563.1 0.7 5.3
--------------------------------------------------------------------
--------------------------------------------------------------------
006PMD41 Suluk 20.1 32.0 11.9 5.4
--------------------------------------------------------------------
Including 20.7 25.2 4.5 8.7
--------------------------------------------------------------------
Including 29.7 31.0 1.3 8.5
--------------------------------------------------------------------
And 35.7 42.8 7.1 4.8
--------------------------------------------------------------------
Including 37.0 38.2 1.2 12.3
--------------------------------------------------------------------
And 60.0 63.5 3.5 3.1
--------------------------------------------------------------------
And 86.7 97.0 10.3 2.8
--------------------------------------------------------------------
Including 86.7 90.0 3.3 5.8
--------------------------------------------------------------------
And 165.8 170.5 4.7 42.1
--------------------------------------------------------------------
Including 168.5 169.0 0.5 371.0
--------------------------------------------------------------------
--------------------------------------------------------------------
06PMD419 Rand Suluk Gap 46.0 47.5 1.5 3.1
--------------------------------------------------------------------
And 368.9 379.5 10.6 5.5
--------------------------------------------------------------------
Including 370.9 376.5 5.6 9.1
--------------------------------------------------------------------
--------------------------------------------------------------------
06PMD420 Suluk 25.0 27.1 2.1 2.5
--------------------------------------------------------------------
And 57.0 66.0 9.0 2.5
--------------------------------------------------------------------
Including 60.5 61.7 1.2 8.8
--------------------------------------------------------------------
And 72.0 87.1 15.1 6.1
--------------------------------------------------------------------
Including 72.0 75.2 3.2 20.8
--------------------------------------------------------------------
Including 86.1 87.1 1.0 5.6
--------------------------------------------------------------------
--------------------------------------------------------------------
And 123.0 128.8 5.8 2.4
--------------------------------------------------------------------
Including 128.0 128.8 0.8 6.8
--------------------------------------------------------------------
--------------------------------------------------------------------
06PMD421 Suluk 40.3 51.6 11.3 1.8
--------------------------------------------------------------------
And 61.7 68.6 6.9 16.0
--------------------------------------------------------------------
Including 63.2 67.1 3.9 26.3
--------------------------------------------------------------------
And 71.6 76.1 4.5 5.7
--------------------------------------------------------------------
Including 73.9 74.6 0.7 22.7
--------------------------------------------------------------------
And 79.1 82.1 3.0 2.6
--------------------------------------------------------------------
And 104.5 107.1 2.6 2.7
--------------------------------------------------------------------
Including 104.5 105.3 0.8 6.6
--------------------------------------------------------------------
--------------------------------------------------------------------
06PMD422 Suluk 321.0 326.8 5.8 2.4
--------------------------------------------------------------------
Including And 322.0 322.3 0.3 5.3
--------------------------------------------------------------------
Further Assays Pending
--------------------------------------------------------------------
--------------------------------------------------------------------
06PMD423 Suluk 78.3 79.0 0.7 2.9
--------------------------------------------------------------------
--------------------------------------------------------------------
06PMD424 n/a Abandoned
--------------------------------------------------------------------
--------------------------------------------------------------------
06PMD425 Suluk Rand Gap 333.8 335.3 1.5 2.0
--------------------------------------------------------------------
--------------------------------------------------------------------
06PMD426 Suluk Rand Gap 166.7 168.6 1.9 2.2
--------------------------------------------------------------------
Including 166.7 167.1 0.4 7.9
--------------------------------------------------------------------
And 207.9 220.5 12.6 3.6
--------------------------------------------------------------------
Including 209.4 210.6 1.2 5.9
--------------------------------------------------------------------
Including 215.1 218.1 3.0 7.7
--------------------------------------------------------------------
--------------------------------------------------------------------
06PMD427 Suluk 138.2 302.5 164.2 3.2
--------------------------------------------------------------------
Including 138.2 139.3 1.1 4.5
--------------------------------------------------------------------
Including 148.0 149.8 1.8 7.0
--------------------------------------------------------------------
Including 158.5 210.6 52.1 3.3
--------------------------------------------------------------------
Including 161.5 164.0 2.5 8.0
--------------------------------------------------------------------
Including 170.0 175.8 5.8 7.3
--------------------------------------------------------------------
Including 180.3 182.7 2.4 5.7
--------------------------------------------------------------------
Including 187.8 189.3 1.5 5.1
--------------------------------------------------------------------
Including 250.0 302.5 52.5 6.0
--------------------------------------------------------------------
Including 250.7 252.2 1.5 5.7
--------------------------------------------------------------------
Including 255.2 260.7 5.5 5.4
--------------------------------------------------------------------
Including 272.6 279.8 7.2 7.6
--------------------------------------------------------------------
Including 282.8 290.9 8.1 17.4
--------------------------------------------------------------------
Including 297.4 302.5 5.1 4.0
--------------------------------------------------------------------
Including 298.7 299.5 0.8 14.6
--------------------------------------------------------------------
--------------------------------------------------------------------
06PMD428 Suluk 50.5 88.8 38.3 9.1
--------------------------------------------------------------------
Including 50.5 71.1 20.6 12.8
--------------------------------------------------------------------
Including 73.5 77.2 3.7 13.5
--------------------------------------------------------------------
Including 73.5 75.0 1.5 29.2
--------------------------------------------------------------------
Including 85.1 88.8 3.7 8.5
--------------------------------------------------------------------
Including 85.1 88.0 2.9 10.1
--------------------------------------------------------------------
And 102.0 106.5 4.5 6.4
--------------------------------------------------------------------
Including 102.0 103.9 1.9 12.2
--------------------------------------------------------------------
And 166.7 168.2 1.5 4.2
--------------------------------------------------------------------
And 299.0 300.0 1.0 3.9
--------------------------------------------------------------------
--------------------------------------------------------------------
06PMD429 Suluk 98.0 99.5 1.5 53.1
--------------------------------------------------------------------
And 218.2 228.7 10.5 2.1
--------------------------------------------------------------------
Including 221.2 225.7 4.5 3.8
--------------------------------------------------------------------
And 234.7 237.4 2.8 6.2
--------------------------------------------------------------------
And 250.9 264.5 13.6 4.7
--------------------------------------------------------------------
Including 253.0 260.3 7.3 7.7
--------------------------------------------------------------------
And 297.2 298.7 1.5 6.6
--------------------------------------------------------------------
And 334.3 337.3 3.0 2.6
--------------------------------------------------------------------
And 346.9 348.0 1.1 3.0
--------------------------------------------------------------------
--------------------------------------------------------------------
06PSD115A South Suluk 107.8 110.2 2.4 15.4
--------------------------------------------------------------------
Including 107.8 109.3 1.5 23.0
--------------------------------------------------------------------
And 143.8 144.9 1.1 4.1
--------------------------------------------------------------------
And 382.6 383.7 1.1 2.3
--------------------------------------------------------------------
And 393.3 398.2 4.9 2.7
--------------------------------------------------------------------
Including 395.8 397.3 1.5 5.7
--------------------------------------------------------------------
--------------------------------------------------------------------
06PSD116 South Suluk 88.4 92.9 4.5 2.9
--------------------------------------------------------------------
And 143.8 144.9 1.1 4.1
--------------------------------------------------------------------
And 382.6 383.7 1.1 2.3
--------------------------------------------------------------------
And 393.3 398.2 4.9 2.7
--------------------------------------------------------------------
Including 395.8 397.3 1.5 5.7
--------------------------------------------------------------------
--------------------------------------------------------------------
06PSD117 South Suluk 40.5 43.4 2.9 2.0
--------------------------------------------------------------------
Including 40.5 41.0 0.5 7.0
--------------------------------------------------------------------
And 47.8 48.2 0.4 3.4
--------------------------------------------------------------------
And 129.4 129.7 0.3 196.5
--------------------------------------------------------------------
And 143.5 147.0 3.5 2.3
--------------------------------------------------------------------
Including 146.0 147.0 1.0 5.9
--------------------------------------------------------------------
--------------------------------------------------------------------
06PSD119 South Fence No Significant Assays
--------------------------------------------------------------------
--------------------------------------------------------------------
06PSD120 South Fence 230.6 233.0 2.4 5.5
--------------------------------------------------------------------
Including 230.6 232.0 1.4 8.3
--------------------------------------------------------------------
And 255.5 257.0 1.5 3.9
--------------------------------------------------------------------
--------------------------------------------------------------------
06PSD121 South Fence No Significant Assays
--------------------------------------------------------------------
--------------------------------------------------------------------
06PSD122 South Fence No Significant Assays
--------------------------------------------------------------------
--------------------------------------------------------------------
06PSD123 South Suluk 380.0 380.9 0.9 13.1
--------------------------------------------------------------------
449.0 449.3 0.3 4.3
--------------------------------------------------------------------
And 452.5 458.2 5.7 1.5
--------------------------------------------------------------------
And 452.5 452.9 0.4 8.1
--------------------------------------------------------------------
--------------------------------------------------------------------
06PSD124 South Suluk No Significant Assays
--------------------------------------------------------------------
--------------------------------------------------------------------
06PSD125 197.0 199.4 2.4 2.3
--------------------------------------------------------------------
Contact:
Contacts:
Miramar Mining Corporation
Anthony P. Walsh
President & CEO
(604) 985-2572 or Toll Free: 1-800-663-8780
(604) 980-0731 (FAX)
info@miramarmining.com
http://www.miramarmining.com
--------------------------------------------------------------------------------
Source: Miramar Mining Corporation
PEAK OIL #board-6609
PEAK OIL - SUSTAINABLE LIVING #board-9881
PEAK NATURAL RESOURCES #board-12910
PEAK WATER #board-12656
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