Miranda Gold Corp. Stakes Claims in Utah
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Miranda Gold Corp. ("Miranda") (TSX-V: MAD) is pleased to announce that
189 claims (6.1 square miles) have been staked at the Lookout property
in Tooele County, Utah. The claims cover a large area of
hydrothermally-altered and brecciated carbonate rocks with elevated
gold and related arsenic-antimony-mercury-thallium mineralization.
Based on Nevada sediment-hosted gold experience, Miranda geologists
believe sediment-hosted gold opportunities exist in Utah. The Lookout
property is within the eastern Great Basin province, an area hosting
economic, sediment-hosted gold deposits such as Mercur, Barney's
Canyon, and Melco. The property is approximately 23 miles southwest of
the 3.5 million ounce Mercur gold mine, which was active until 1997.
Miranda's expansion strategy into Utah is to identify early-stage,
sediment-hosted gold opportunities in under explored terrains. Miranda
geologists believe the Lookout property meets these criteria.
At Lookout, United States Geological Survey mapping illustrates
north-south trending mountain ranges that inflect into a west-northwest
striking fault/fold corridor. Within this corridor, Cambrian through
Mississippian age carbonate rocks, chert and quartzite are exposed at
surface. The Great Blue Formation, gold host at the Mercur gold mine,
is exposed on the northern portion of the property. These rocks are
cut by west-northwest, northeast and north-south striking faults.
Miranda's exploration team has been prospecting with a portable NITON
XRF (x-ray fluorescence) unit, collecting geochemical samples and
mapping. The NITON measures elemental concentrations of rocks in the
field and provides real time data to guide geochemical sampling
programs. Results to date include the identification of:
laterally-extensive zones of decalcification, silicification,
oxidation, quartz veining and breccia in an area measuring 2,500 feet
by 6,000 feet; gold values up to 0.02 oz/t in rock chip samples; and
elevated arsenic, antimony, mercury, and thallium. Mapping identified
historic prospect pits, exposing silicified faults that contain rare
thallium-arsenic sulfide minerals, radiating stibnite crystals and
stibiconite. These geologic patterns indicate favorable chemical
conditions known to be associated with large, sediment-hosted gold
systems.
Miranda is planning systematic soil sampling, mapping programs and a
possible gravity survey that will commence in the spring of 2007. Data
from these programs will guide drill target identification and provide
a comprehensive data package for interested joint venture partners.
The data disclosed in this press release have been reviewed and
verified by Company Senior Geologist Steven Koehler, P. Geo, BSc.
Geology and Qualified Person as defined by National Instrument 43-101.
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"
Kenneth Cunningham
President and CEO |
