Airborne Magnetic Survey Started over Miranda Gold′s Pavo Real Project in Colombia
Miranda Gold Corp. ('Miranda?) (TSX-V: MAD) announces that a
helicopter airborne magnetic survey has started over its Pavo Real
project in the Tolima Department of Colombia. Miranda's exploration
funding partner at Pavo Real, Red Eagle Mining Corporation ('Red Eagle')
has a contract with MPX Geophysics, Ltd. to complete the survey. The
survey goals are to identify intrusions and their margins, magnetic
destruction from alteration, and to delineate large-scale structures.
The survey will total 1706 line-miles (2,746 line-kilometers) with
east-west flight lines on 164 ft (50 m) spacing and north-south tie
lines on 1640 ft (500 m) spacing. The sensor height is approximately 230
ft (70 m).
Mapping and sampling at Pavo Real shows that gold mineralization is
hosted in sandstone and conglomerate. Gold anomalies are associated with
strongly anomalous bismuth and moderately anomalous copper values. There
are several copper-gold-silver skarn deposits in the region, which
contrasts to Pavo Real, which is not next to an intrusive body, the most
common location for a skarn deposit. In general, as one moves away from
intrusive bodies and related skarn deposits ('distal?), which are
typically iron- or copper-rich with associated precious metals, the
systems tend to become base-metal poor and gold enriched. Pavo Real is
speculated at this time to have 'distal skarn? or 'distal disseminated'
gold mineralization.
As previously reported (January 5, 2010), soil sampling on the project
on three wide-spaced lines defined a 2,300 ft (700 m) long by 330 to
1,640 ft (100 to 500 m) wide gold anomaly. Channel sampling of outcrops
and old workings at Pavo Real show encouraging results. Of the 82
samples collected, 32 samples, or 39%, assayed in excess of 0.029 oz
Au/t (1.00 g Au/t) with the highest sample assaying 0.46 oz Au/t (15.89
g Au/t). Most of the channel samples fall within the limits of the soil
anomaly, although a single isolated sample taken 1,362 ft (415 m)
southwest of the open soil anomaly has a 13 ft (4 m) sample width
assaying 0.132 oz Au/t (4.52 g Au/t).
The results of the magnetic survey combined with existing geochemical
sampling and mapping will be used to define drill targets.
The data disclosed in this press release have been reviewed and verified
by Company CEO & President 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
Montezuma Mines Inc., Ramelius Resources Ltd., NuLegacy Corporation, Red
Eagle Mining Corporation, Piedmont Mining Company Inc., and SIN Holdings
Ltd.
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.
Miranda Gold Corp.
Fiona Grant, Manager, 1-877-689-4580
Investor
Relations
www.mirandagold.com