MIQ PRESS RELEASE - NEW GOLD DISCOVERY
Good morning to you all. Please find enclosed the latest press release from Mirandor Explorations (MIQ.MSE), which provides the final technical report on work done by Kinross Gold at Railroad. The report is extremely positive and confirms a new gold discovery near the Bald Mountain Fault. Details of the find are included below.
Some other highlights of the press release include:
- Kinross to begin work at Railroad as soon as conditions permit;
- Kinross will give priority status to the Bald Mountain Fault; and
- Kinross will spend a minimum of $US 1.5 million on drilling in 1999
AGORA Internet Relations Corp also wishes to advise that company president, Gilles Laverdiere, will be providing supplementary commentary and a further explanation of these drill results over the next two days.
If you have not received this press release directly and wish to receive all further company communications by e-mail, please visit the company web site and register your e-mail address at:
mirandor.com
Regards,
AGORA Internet Relations Corp.
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EXPLORATION MIRANDOR INC.
PRESS RELEASE May 5, 1999
**A NEW SUB-SURFACE GOLD DEPOSIT IN THE CARLIN TREND?**
Exploration Mirandor Inc. (MIQ-ME) is pleased to report that it has received the final technical report from Kinross on the latest work program done on the property.
Of significant importance is the new gold discovery near the Bald Mountain fault. Hole K98-49 (previously announced, December 11, 1998) intersected 70 feet of 0.11 oz/t of gold between 855 feet and 925 feet. The drill hole is the only one drilled on the Bald Mountain fault and was drilled in a previously unexplored area. No other holes have been drilled in the immediate vicinity in this structure.
Geochemical results show a strong, coherent surface gold anomaly in soils with coincident pathfinder elements and which extends for over one square mile. At this time, hole K98-49 represents a significant gold discovery coincident with this geochemical anomaly in an area of favourable Carlin Trend host rocks. Hole K98-49 is located some 3,000 feet southwest of the POD deposit on the property.
Kinross' report states : “ Hole K98-49 ... is technically not associated with the POD mineralization. The 1999 program will delineate the nature of this mineralization and add to the existing resource”
The Bald Mountain fault is a structure located midway between the POD deposit and the high-grade Bunker Hill gold copper skarn occurrence. This fault is a high-angle cross-fault which strikes E-W and intersects the Bald Mountain intrusive, an important mineralization control at the Railroad Project. The Bald Mountain intrusive contains the Bunker Hill high-grade gold-copper occurrence discovered in 1997 and the poly-metallic skarn deposits located on its eastern contact with the Lower Plate rocks that were mined in the first half of the century.
Kinross has indicated to the Company that their 1999 field season will begin as soon as field conditions permit, and that this area of the project will be given priority status.
Kinross and Mirandor have an agreement whereby Kinross can earn a 55% interest in the Railroad project by expending $7 million US, and an additional 10% by expending a further $5 million US toward a positive feasibility study. The agreement calls for a minimum expenditure of 1.5 million US in 1999.
The Railroad project, consisting of some 55 square miles, is centered on the southern end of the Carlin Trend, and lies at the intersection of the NW-SE Carlin Trend and the N-S Piñon anticline structure. It is located within a Carlin erosional "window" exposing at surface favorable lower plate sedimentary rocks.
The Company is very excited by this new discovery which opens up a new area on the property with gold occurence.
For more information, please contact:
Mr. Gilles Laverdière, president
Montreal office Tel: (514) 285-8565
Fax: (514) 285-1617
Val-d'Or office Tel: (819) 825-9065
Fax: (819) 825-1199
DISCLOSURE STATEMENT
AGORA INTERNET RELATIONS CORP. receives a monthly monetary fee from Mirandor Explorations Inc. for the purposes of communicating with Internet shareholders - both current and prospective - to increase awareness of and interest in Mirandor Explorations Inc. AGORA INTERNET RELATIONS CORP activities are aimed purely at keeping their clients' shareholders and prospective shareholders informed about their company. These activities consist of providing investors with previously disclosed factual information concerning the company, comments from company principals, copies of material that has been filed with regulatory authorities, comments prepared by registered brokers or investment dealers and material published in newspapers, magazines or journals.
AGORA INTERNET RELATIONS CORP does not participate in the maintenance of an orderly market in their client's securities, nor is required, or receives an incentive for, the maintenance or achievement of a price or trading volume for their client's securities at a certain level, for a specified period of time or by a certain date. AGORA INTERNET RELATIONS CORP. may, at any time, own shares in the company.
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