Drilling Commences on Miranda's Red Hill Property
VANCOUVER, BRITISH COLUMBIA, Sep 06, 2006 (MARKET WIRE via COMTEX News Network) --
Miranda Gold Corp. (TSX VENTURE: MAD)(OTCBB: MRDDF)(BERLIN: MRG)(FWB: MRG) is pleased to announce that Barrick Gold Exploration Inc. (TSX: ABX) ("Barrick") will initiate a two drill hole campaign totaling 3,500 feet on the Red Hill project on September 6, 2006. This program will test inferred lower plate targets within the northeast pediment area of the project.
Favorability in this area is indicated by an antimony-gold occurrence in historic workings near the edge of pediment, and the intersection of the easterly trending, altered and locally mineralized "Long Fault" into other fault fabric inferred from geophysics.
In part, these holes are to follow up on a detailed airborne magnetic survey previously conducted by Placer Dome U.S. Inc. on the project. In conjunction with the drilling, Barrick will conduct a detailed gravity survey on the east side of the property. The results of this survey could refine and resolve additional drill targets.
The Red Hill project comprises 79 lode mining claims that are located in the JD Window of the northeast Simpson Park Range. These claims cover the eastern margin of the lower-plate Paleozoic carbonate rocks within the window. Extensive hydrothermal activity has caused clay alteration, decalcification, widespread iron oxide staining and silicification. The JD window is one of a belt of several lower plate carbonate windows that extend 30 miles through the Shoshone, Cortez and Simpson Park Ranges and fall within a projection of the Cortez Trend.
Redlich Exploration Update
At the Redlich project, joint venture partner Newcrest Resources Inc. ("Newcrest") continues drilling. To date, fifteen reverse circulation holes have been completed. Newcrest has advised Miranda that assay results from the first half of the drilling should be available by mid-September. They have also indicated that several core holes are planned later this year following analysis of the current drill program.
Company 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 Newcrest Resources Inc., Barrick Gold Exploration Inc., Agnico-Eagle (USA) Ltd., the Cortez Joint Venture, the Buckhorn Joint Venture, Romarco Minerals Inc., and Golden Aria Corp.
ON BEHALF OF THE BOARD
Kenneth Cunningham, President and CEO |
