To All; January 12, 1998 News Release
January 12, 1998 New Project Acquired in Sonora, Mexico Symbol: MAD.V
Form 20F: 0–27760
The Company is pleased to announce that it has filed a 2000 hectare mining exploration concession in Sonora, Mexico. The area is a newly recognized environment for very high grade gold and silver, plus minor copper-lead-zinc, although limited gold-silver production has occurred as recently as eight years ago by local people.
Preliminary soil samples taken during evaluation resulted in 50+ ppb gold in soil anomalies extending for 500m along strike of the mineralized zone. Within these are soil anomalies of over 100 ppb gold. Numerous grab and channel samples indicate values up to nearly 30 grams gold per tonne and over 500 grams silver per tonne in altered intrusive and quartz veins within the intrusive. The geologic environment includes altered and quartz-veined quartz monzonite porphyry with numerous dike-like phases that is locally covered by late Tertiary rocks and locally thick soil.
At least three broad target areas are recognized which contain soil geochemical anomalies, alteration, and quartz vein swarms along parallel northwest-trending structures over distances of nearly one kilometer. The quartz veins are best described as swarms and stockworks with thinner quartz veinlets of diverse orientation in altered intrusive. Alteration is poorly known at this time but includes quartz-chlorite, quartz-muscovite, carbonate-muscovite-chlorite, and chlorite-actinolite-garnet-epidote-jasperoidal silica endoskarn. Most alteration phases contain hematite from oxidized sulfides plus original hematite and some magnetite. Limonitic oxides suggest the original sulfides to be pyrite-arsenopyrite-tennantite(?)-sphalerite-galena-chalcopyrite.
Miranda is planing a preliminary exploration program to grid, soil and rock sample, trench, and ground magnetometer survey at least 5 square kilometres to begin in the next few weeks.
A finder's fee is payable upon receipt of title on this wholly-owned Miranda property. There are no underlying royalties or payments.
ON BEHALF OF THE BOARD
"Dennis L. Higgs"
Dennis L. Higgs, B.Comm.
President
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