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Gold/Mining/Energy : MIRANDOR-MIQ ON MONTREAL -- Ignore unavailable to you. Want to Upgrade?

To: jocko who wrote (2481)	6/17/1999 12:57:00 PM
From: G.J. (Hijacked)	Read Replies (1) \| Respond to of 2635

MIQ-KGC news release. I got this message from the KGC board: Here is the latest on the Railroad project. Mirandor's Railroad project drilling starts Mirandor Exploration Inc MIQ Shares issued 19,284,536 Jun 15 close $0.16 Wed 16 Jun 99 News Release Mr. Gilles Laverdiere reports Exploration Mirandor has been informed by Kinross Gold Corp. that its 1999 drill program on the Carlin trend Railroad project has started. Drilling has begun in the Elliot High Ranch area where past results have revealed the presence of pervasive gold mineralization in a strong north-south trending structure. Examples of past drilling at EHR by Mirandor in 1997 and Kinross in 1998 are as follows: Area and Hole Depth Length Assay Gold feet feet oz/ton EHR - 9707 225-560 335 0.023 330-560 230 0.047 EHR - 9710 175-200 25 0.062 330-380 50 0.021 EHR - K98-5 200-215 15 0.046 565-625 60 0.031 All assaying was carried out by Chemex Labs and Bondarr Clegg using the fire assay method. In 1998, gold mineralization within the Elliot High Ranch structure implied an increase in the overall resource. In the LT East area of the property, diamond drilling should begin in early July. Favourable geology at LT East, including the presence of jasperoid breccias, barite veins and pyrite, makes this area an attractive target. Drilling by Mirandor in 1997 returned 0.107 of an ounce per ton gold from 130-145 feet in depth (assaying by Bondarr Clegg using fire assay). Kinross and Mirandor have an agreement whereby Kinross can earn a 55 per cent interest in the Railroad project by expending $7-million (U.S.), and an additional 10 per cent by expending a further $5-million (U.S.) toward a positive feasibility study. The agreement calls for a minimum expenditure of $1.5-million (U.S.) in 1999. The Railroad project, consisting of some 55 square miles, is centred on the southern end of the Carlin trend, and lies at the intersection of the NW-SE Carlin trend and the N-S Pinon anticline structure. It is within a Carlin erosional window, exposing at surface favourable lower plate sedimentary rocks. The company is very excited by the start-up of the 1999 drill on Railroad and looks forward to receiving initial results. Looking forward to a good year on this one. It should make MIQ a real money maker.