VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: MAD)(OTCBB:
MRDDF)(FRANKFURT: MRG) is pleased to report 2007 drill results and
2008 exploration plans for the Red Hill project in Eureka County,
Nevada. In late 2007 Barrick Gold Exploration Inc. ("Barrick"),
Miranda's exploration funding partner, completed 11,765 ft (3,587
m) of reverse-circulation drilling in six vertical holes expending
a total of US$389,000.
Two of the six holes (BRH-016 and BRH-021) were completed
offsetting 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).
Two drill holes (BRH-017 and BRH-017A) ended prematurely in
limestone voids before testing their intended targets and the final
two holes (BRH-023 and BRH-024) tested gravity gradients and
projected splays of the Long fault at the east side of the
property. Drill results are summarized below and are based on a
0.010 oz Au/t (0.343 g Au/t) cutoff with "no significant assays"
reported as anything less than 0.010 oz Au/t.
Grade Length Grade
Hole Number Interval (ft) Length (ft) (oz Au/t) (m) (g Au/t)
BRH-016 No Significant Assays
BRH-017 No Significant Assays
BRH-017A No Significant Assays
BRH-021 1,830-1,835 5 0.023 1.5 0.789
2,125-2,135 10 0.081 3.1 2.776
Includes 2,125-2,130 5 0.135 1.5 4.640
2,490-2,495 5 0.033 1.5 1.140
BRH-023 1,070-1,075 5 0.014 1.5 0.470
1,115-1,120 5 0.012 1.5 0.408
1,175-1,185 10 0.013 3.1 0.435
BRH-024 960-970 10 0.013 1.5 0.462
1,100-1,105 5 0.027 1.5 0.915
1,210-1,215 5 0.013 1.5 0.441
BRH-016 was drilled 650 ft (200 m) north of BRH-013. The hole
intersected two vertically-extensive zones of hydrothermal
alteration in lower-plate limestone: a) variably decalcified,
oxidized and carbon-bearing Devils Gate limestone from 1,360 to
1,785 ft (414 to 544 m) and b) carbon-clay altered Denay limestone
with igneous dikes from 2,115 to 2,265 ft (645 to 690 m).
Significant gold was not intersected.
BRH-021 was drilled 720 ft (220 m) northwest of BRH-013, along
strike of a prominent geophysical resistivity anomaly that guided
the placement of BRH-013. The hole intersected two intervals of
variably decalcified, silicified and weakly oxidized lower-plate
limestone at 1,100 to 1,470 ft (335 to 448 m) and 1,810 to 2,135 ft
(551 to 651 m). Sulfidized igneous dikes, similar to those
intersected in the BRH-013 gold-bearing interval, were intersected
from 1,810 to 1,860 ft (552 to 567 m). Fault-controlled gold
mineralization (10 ft of 0.081 oz Au/t; 3.1m of 2.776 g Au/t),
hosted in decalcified and clay altered Denay limestone, a
characteristic of Carlin-type systems, was intersected from 2,125
to 2,135 ft (648 to 651 m).
On the east side of the property two drill holes (BRH-023 and
BRH-024) tested pediment-covered targets outboard from a series of
historic antimony prospects. The holes were located based on three
criteria: 1) prospect pits along the rangefront exposing strong
decalcification, silicification, antimony mineralization and
anomalous gold mineralization in lower-plate limestone; 2) gravity
data that identified structural features beneath shallow pediment
cover, and 3) projected splays of the Long fault. Both holes
intersected similar geology: a thin veneer of alluvium, upper plate
siliciclastic rocks and a fault that removed the targeted
limestone. Anomalous gold was restricted to 5 to 10 ft (1.5 to 3.1
m) zones.
A detailed exploration summary map depicting the placement of
these drill holes can be viewed at
http://media3.marketwire.com/r/madd123.
All drill samples were collected with a reverse circulation
drill using 5 ft (1.5 m) sample intervals. Samples were assayed by
SGS Minerals Services of Toronto, Ontario Canada. Gold results were
determined using standard fire assay techniques on 30-g samples
with an atomic absorption finish. Barrick's QA/QC included the
insertion of numerous standards and blanks. QA/QC protocols
included secure sample storage, handling and shipping, and the use
of sample standards and repeat analysis. The delivery of drill
assays to Miranda by Barrick was delayed due to the QC on standards
inserted into the sample stream by Barrick. To resolve the QC
issues, select drill sample intervals and standards were
re-assayed. Re-assays provided acceptable results for the standards
and a higher-level of confidence on the drill-hole sample
results.
Barrick intends to drill two holes at Red Hill in 2008. Miranda
is pleased that Barrick is committed to aggressively exploring the
Cortez Trend, which includes Miranda's Red Hill project. The
program is designed to better understand the gold system that was
discovered in 2006 in hole BRH-013 and will continue to evaluate
the associated geophysical anomaly. The anomaly coincides with a
west-northwest to north-south striking bedrock high, a gravity
gradient low, and a swarm of igneous dikes. From BRH-013, the
proposed holes are approximately 1,000 ft (305 m) to the southeast
and 2,450 ft (750 m) to the west. Drilling, envisioned for the
summer of 2008, is subject to BLM permit approval and the
availability of a qualified drill contractor.
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.
To obtain further information on the Red Hill project and all
exploration work done on the property visit
http://www.mirandagold.com/s/Redhill.asp.
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., the
Cortez Joint Venture, the Buckhorn Joint Venture, Piedmont Mining
Company Inc., White Bear Resources Inc., Queensgate Resources
Corporation, CMQ Resources Inc. and Newcrest Resources 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 Toll Free: 1-877-689-4580 or (604) 689-4580 Website:
www.mirandagold.com
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