Gold in Lower Plate Limestone at Miranda Gold′s Big Blue Project
Miranda Gold Corp. ('Miranda') (TSX-V: MAD) is pleased
to announce that Ramelius Resources Ltd. ('Ramelius') (ASX: RMS), our
funding partner at Big Blue, a sediment-hosted gold project in Lander
County, Nevada, has completed its Phase III drilling. Ramelius drilled a
total of 2,860 ft (871.7 m) in two reverse-circulation holes. Both holes
intersected anomalous gold mineralization in the carbonate section of
the lower plate of the Roberts Mountains Thrust ('RMT?).
This third round of drilling by Ramelius provided additional tests of
structural and geochemical trends along Anomaly Ridge within the West
Cottonwood Prospect and demonstrates potential for the carbonate
stratigraphy in the lower plate of the RMT to host significant gold
mineralization. Rock units on the surface of Anomaly Ridge are primarily
siliceous siltstones, argillites, and cherts of the upper plate of the
RMT and generate gold values in soil samples up to 0.025 oz Au/ton
(0.850 g Au/t), in rock samples up to 1.70 oz Au/ton (58.2 g Au/t), and
in drill samples up to 0.178 oz Au/ton (6.110 g Au/t). Additionally,
Phase II drill hole BBR11-05 intersected highly anomalous pathfinder
elements in the lower plate of the RMT with values up to 1,360 ppm
arsenic, 116 ppm antimony, and 5.4 ppm mercury. These elements generally
form abundance highs near gold mineralization.
All holes drilled to date at Big Blue have intersected detectable gold
mineralization. The following table summarizes significant drilled gold
intersections (defined as those gold grades of 0.01 oz Au/ton (0.343 g
Au/t) or higher over intersections of 5 ft (1.5 m) or longer) for the
2011 and 2012 drilling. The anomalous and significant intercepts in
Phase I and II drilling are in the upper-plate of the RMT. Better host
rocks for sediment-hosted gold mineralization are considered to be the
limestone formations beneath the RMT and the Phase III significant gold
intersections below 1,000 ft (305 m) are in these limestones.
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| Hole ID | ? | Total Depth (ft) | ? | Interval (ft) | ? | Length (ft) | ? | Grade (oz Au/ton) | ? | Interval (m) | ? | Length (m) | ? | Grade (g Au/t) | ||
| PHASE I | ? | ? | ? | ? | ? | ? | ? | |||||||||
BBR11-01 | 1,120 | 10-40 | 30 | 0.048 | 3.0-12.2 | 9.1 | 1.631 | |||||||||
| Includes | 15-20 | 5 | 0.178 | 4.6-6.1 | 1.5 | 6.110 | ||||||||||
70-80 | 10 | 0.019 | 21.3-24.4 | 3.0 | 0.651 | |||||||||||
BBR11-02 | 475 | 70-75 | 5 | 0.015 | 21.3-22.9 | 1.5 | 0.515 | |||||||||
90-95 | 5 | 0.018 | 27.4-29.0 | 1.5 | 0.624 | |||||||||||
BBR11-03 | 275 | 55-80 | 25 | 0.043 | 16.8-24.4 | 7.6 | 1.491 | |||||||||
90-95 | 5 | 0.033 | 27.4-29.0 | 1.5 | 1.135 | |||||||||||
BBR11-04 | 575 | 45-65 | 20 | 0.018 | 13.7-19.8 | 6.1 | 0.617 | |||||||||
195-200 | 5 | 0.017 | 59.4-61.0 | 1.5 | 0.573 | |||||||||||
| PHASE II | ||||||||||||||||
BBR11-05 | 835 | 125-130 | 5 | 0.011 | 38.1-39.6 | 1.5 | 0.375 | |||||||||
185-190 | 5 | 0.012 | 56.4-57.9 | 1.5 | 0.406 | |||||||||||
| PHASE III | ||||||||||||||||
BBR12-01 | 1,480 | 25-30 | 5 | 0.014 | 7.6-9.1 | 1.5 | 0.492 | |||||||||
1,155-1,165 | 10 | 0.015 | 352.0-355.1 | 3.1 | 0.517 | |||||||||||
BBR12-02 | 1,380 | 220-225 | 5 | 0.035 | 67.1-68.6 | 1.5 | 1.19 | |||||||||
1,005-1,010 | 5 | 0.011 | 306.3-307.8 | 1.5 | 0.375 | |||||||||||
1,040-1,045 | 5 | 0.048 | 317.0-318.5 | 1.5 | 1.660 | |||||||||||
? | ? | ? | ? | 1,080-1,085 | ? | 5 | ? | 0.011 | ? | 329.2-330.7 | ? | 1.5 | ? | 0.386 | ||
Maximum gold intercepts in BBR11-06 and -07 are 5 ft (1.5 m) of 0.104 and 0.128 g Au/t, respectively. | ||||||||||||||||
Original data are in feet and Au ppm (g Au/t).
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Quality Assurance / Quality Control procedures utilized by Ramelius
during the analyses of drill samples include collection of duplicate
samples and insertion of blanks and analytical standards into the sample
sequence. Control samples constitute about 10 percent of each batch of
samples. All drill samples were analyzed by ALS Minerals with gold
analyses by fire assay of a 30 g charge and AAS finish and trace-element
analyses by ICP-MS. The drill contractor for Phase III drilling was
Boart-Longyear.
Data disclosed in this press release, including sampling, analytical and
test data, have been reviewed and verified by Vice President of
Exploration Joseph Hebert, C.P.G., B.Sc. Geology and Qualified Person as
defined by National Instrument 43-101.
Project Details
The Big Blue Project consists of 255 unpatented lode mining claims
covering 8.2 sq mi (21.2 sq km) located in the Toiyabe Range, 13 mi (21
km) north of Austin, Nevada. The project is on the south margin of the
Callaghan Window, a large area exposing Cambrian- through Silurian-age
lower-plate carbonate rocks in the footwall of the Roberts Mountains
Thrust. The lower-plate sequence includes the Roberts Mountains and
Hanson Creek Formations and the Pogonip Group, of which all are known to
be favorable hosts for large, sediment-hosted gold systems in Nevada.
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) Inc., Montezuma Mines Inc., Navaho
Gold Ltd., NuLegacy Corporation, 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 Joe Hebert, Vice President, Exploration at 775-738-1877.
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.
U.S. investors are cautioned that mineral deposits on adjacent
properties are not indicative of mineral deposits on our properties. We
advise U.S. investors that the SEC's mining guidelines strictly prohibit
information of this type in documents filed with the SEC.
This news release contains forward-looking statements that are based
on the Company's current expectations and estimates. Forward-looking
statements are frequently characterized by words such as 'plan',
'expect', 'project', 'intend', 'believe', 'anticipate', 'estimate',
'suggest', 'indicate' and other similar words or statements that certain
events or conditions 'may' or 'will' occur. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that could cause actual events or results to differ materially
from estimated or anticipated events or results implied or expressed in
such forward-looking statements. Such factors include, among others: the
actual results of current exploration activities; conclusions of
economic evaluations; changes in project parameters as plans to continue
to be refined; possible variations in ore grade or recovery rates;
accidents, labour disputes and other risks of the mining industry;
delays in obtaining governmental approvals or financing; and
fluctuations in metal prices. There may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. Any forward-looking statement speaks only as of the date on
which it is made and, except as may be required by applicable securities
laws, the Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information,
future events or results or otherwise. Forward-looking statements are
not guarantees of future performance and accordingly undue reliance
should not be put on such statements due to the inherent uncertainty
therein.
Miranda Gold Corp.
Joe Hebert, 775-738-1877
Vice President,
Exploration