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Gold/Mining/Energy : Precious and Base Metal Investing

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From: bmccra	5/9/2005 3:07:47 PM
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Miramar Reports High Grade Drill Results from Doris Central Zone at Hope Bay VANCOUVER, British Columbia--May 9, 2005--Miramar Mining Corporation (TSX:MAE - News; AMEX:MNG - News) - Positive Results from Infill and Step-out Holes, including 17.2g/t over 19.7m and 54 gm/t over 4.4m New Resource Calculations and Scoping Studies to Commence Miramar Mining Corporation today announced results from the next nine holes drilled to upgrade and expand the resources within the Doris Central zone at its Hope Bay belt in Nunavut. Doris Central is targeted to potentially make up part of the next phase of proposed development of the Hope Bay belt after mining of the current reserve at the planned Doris North mine is completed. "The drilling at Doris Central is part of our overall strategy to develop sustained significant gold production from the substantial resources defined to date within the Hope Bay belt," said Tony Walsh, Miramar's President & CEO. "Doris Central is one of three areas targeted for inclusion in a feasibility study for the second Phase of development of the belt. It is encouraging that our in fill drilling at Doris Central appears not only to have confirmed the existing resource but may have also increased it." Results reported today are from the second stage of drilling at Doris Central, which was designed to complete in-fill drilling, define resource limits and test priority areas for resource expansion. Drill results from this second stage helped better define controls on mineralization and have resulted in the interpretation of a shallow south plunging core of higher grade mineralization. Drilling also extended mineralization into areas outside the previous resource limits, particularly in the southern portion of the deposit. With the completion of this program, the bulk of the Doris Central deposit has now been drilled off at 25m centers and resource limits have been reasonably well established along the northern limits and at depth, where the mineralization is offset by a diabase dike. Portions of the recently identified southern extension require additional drilling to define this area to indicated resource standards and an additional 2 to 4 holes are planned in this area before break-up. Highlights of the in fill drilling are provided below, and complete results are attached. Hole ID From To Core Gold Grade (m) (m) Length (m) (g/t) --------- ----- ----- --------- ---------- 05TDD588 188.2 199.0 10.8 23.4 Including 192.2 196.6 4.4 54.4 05TDD589 204.5 222.3 15.1 10.6 Including 206.6 208.9 2.3 26.2 05TDD590 220.4 241.7 21.2 16.1 Including 222.0 233.0 11.0 21.2 Including 223.3 227.6 4.3 48.4 05TDD592 149.8 165.6 15.8 14.9 Including 152.4 160.0 7.6 23.5 05TDD594 250.4 268.0 17.6 10.5 Including 262.0 268.0 6.0 22.8 biz.yahoo.com b

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