MAD's giving it away cheap.
Best of Luck,
Ross
________________________
Miranda enters into Sand Springs JV
Miranda Industries Inc MAD
Shares issued 8,254,300 Dec 24 close $0.21
Tue 29 Dec 98 News Release
Ms. Aileen Fehr reports
The company has signed a joint venture agreement with Explore Technologies
for the further exploration of the Sand Springs project in Churchill
County, Nevada.
The area was evaluated in the past for porphyry copper and gold in the
intrusive and in contact skarn and veins. A small diorite pluton intrudes a
structurally complex sequence of Mesozoic age metasediments and volcanics
including a thick limestone unit. A north-northeast striking shear zone
cuts the diorite and limestone rocks in the western part of the project
area. Just south of the area, epithermal gold and silver veins were mined
in the past with bonanza grades due to secondary enrichment of silver.
Drilling four years ago by a previous operator broadly defined a gold and
copper zone associated with skarn mineralization in the lower part of the
limestone unit adjacent to the diorite. This drilling resulted in a 10 foot
intersection of 0.14 of an ounce of gold per ton in the skarn and three
other 10 to 20 foot zones of low-grade gold mineralization, all in the
northwestern part of the property.
Explore Technologies can acquire a 50 per cent interest in the Sand Springs
project by spending $150,000 (U.S.) in exploration expenses by Dec. 31,
2001, of which $10,000 (U.S.) must be spent by Dec. 31, 1999. Explore
Technologies will also pay to Miranda $1,000 (U.S.) immediately and will
cover all property acquisition and maintenance costs until it has earned a
50 per cent interest.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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