Hi Norman and all.....MIQ NR from Agora=THANKS
Bulletin # JUN99-01
ONCE YOU'VE READ THE HEADLINES, COME TO AGORA FOR THE NEWS
Good morning to you all. Please find enclosed the latest press release from
Mirandor Explorations/Kinross Gold Corp regarding drill results at the joint
ventured Railroad Project.
The results are very significant and can be summarized in the following
excerpts:
1] "The geologic setting and hosts rock are largely similar to those at the nearby
Rain deposit where Newmont produced more than one million ounces of gold
from an open pit and is currently developing an underground resource for
production."
2] According to Kinross: "The NW trend suggests possible "deep" targets along
an apparent W-NW trending structural feature. The feature is interpreted to be a
fault and/or monoclinal fold axis and possibly the structural extension of POD"
As usual and due to the technical nature of such press releases, MIQ President
Gilles Laveridiere will be issuing commentary to further explain the significance
of these results to MIQ shareholders.
In the meantime, Mirandor management is very excited about these latest drill
results and look forward to commencing drilling for 1999 in the very near
future. Kinross has indicated to the Company that their 1999 drill season will
begin as soon as field conditions permit, which will see a minimum expenditure
of 1.5 million US.
That is all for now and we look forward to sending you comments from Gilles
Laverdiere over the next few days.
Regards,
AGORA Internet Relations Corp.
agoracorp.com
EXPLORATION MIRANDOR INC.
PRESS RELEASE June 3, 1999
· NEW RESULTS FROM RAILROAD
Exploration Mirandor Inc. (MIQ-ME), is pleased to report further results from
the Kinross 1998 work program on the Railroad project in Nevada.
Work carried out in the northeastern portion of the project returned significant
results and new targets for the 1999 program. This portion of the project
includes the POD, RC-Jasperoid, and the NW extension zones.
In the POD zone, additional results are available. Hole K98-37 which was
previously announced in December 1998 and which returned 105 feet of 0.121
oz/ton from 265-370 feet, also contains the following interval:
Hole #Thickness
feetDepth
feetAssay Gold
oz/ton
K98-3735285-3200.267
includes 10 feet290-3000.545
· Other results from drilling in POD returned:
Hole #Thickness
feetDepth
feetAssay Gold
oz/ton
K98-193075-1050.017
K98-4235305-3400.032
K98-5335255-2900.026
All assaying was carried out by Chemex Labs using the fire assay method.
The results show the persistence and continuation of the mineralization at the
POD.
The geologic setting and hosts rock are largely similar to those at the nearby
Rain deposit where Newmont produced more than one million ounces of gold
from an open pit and is currently developing an underground resource for
production.
A sooty carbonaceous zone that yields grades of up to 0.75 oz/ton Au over 10 to
20 foot occurs in the footwall of the POD feeder structure.
Located approximately 1,000 feet west of the POD, the East Jasperoid-RC zone is
a 1,000 feet by 4,000 feet north trending feature. The area takes its name from
two small Carlin type gold deposits (40,000 and 15,000 ounces resources) that
occur here (Wesmont, 1994).
· Drilling here returned the following:
Hole #Thickness
feetDepth
feetAssay Gold
oz/ton
K98-30(prev. announced)6590-1550.053
K98-312590-1150.020
K98-3235205-2400.035
includes 5 feet at0.115
Finally, exploration in the NW trend area, some 1,000 feet NW of the POD zone
also revealed interesting results.
According to Kinross: "The NW trend suggests possible "deep" targets along an
apparent W-NW trending structural feature. The feature is interpreted to be a
fault and/or monoclinal fold axis and possibly the structural extension of POD"
Drilling in the NW extension has confirmed the presence of a large normal fault
or fold (called the Northwest Feature) dropping the Devils Gate limestone down
to the northeast. Drilling confirmed this condition which mirrors the Rain mine
graben to the north. If this structure forms the south margin of the Rain graben,
deep drilling to the Devils Gate contact in proximity to the NW feature could
produce a discovery.
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.
Mirandor shares the POD and East Jasperoid zones with Exploration Brex inc. on
an equal basis.
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.
Kinross has indicated to the Company that their 1999 drill season will begin as
soon as field conditions permit.
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
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