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Nice double since last Nov. Trading today @ 0.40! This recent NR tells us something... looks pretty good to me - IMHO!!! MIRANDA DIAMOND CORP. TSX Venture Exchange Symbol:MAD Tel: 604-689-1659 Fax: 604-689-1722 Email: mad@senategroup.com Website: mirandaresources.com Preliminary Results on Nevada Properties Miranda Diamond Corp. ("Miranda") is pleased to announce that preliminary independent sampling has confirmed the mineralized nature of each of its three Nevada projects: the Gilman, Imperial, and Hercules properties. The Company commissioned Mr. Geoffrey Goodall of Global Geological Consultants Ltd. ("Global") to prepare a property report for each of the properties under National Instrument 43-101 guidelines. Mr. Goodall is a Professional Geoscientist and a member of the Association of Professional Engineers and Geoscientists of British Columbia. The Gilman property is located in Lander County, near Austin. Mineralization on the Gilman property is associated with a steeply-dipping, northerly-trending range front fault. Previous work includes evaluation by major mining companies, which identified grades of up to 1.4 ounces per ton ("opt") gold (48 grams per tonne ["gpt"]) in the footwall portion of the range front fault. Jasperoid has developed along the fault zone and sulphide-rich breccias occur within the fault planes. Six rock samples were collected by Global from the Gilman property. Three samples of the sulphide-bearing shale returned high concentrations of gold ranging from 0.279 opt gold (9.56 gpt) to 0.632 opt gold (21.68 gpt). Elevated levels of silver and other pathfinder elements are associated with these mineralized samples. The altered fault zone has a defined strike length over 7,000 ft and there has been no drilling on this property. The Imperial property is located in Esmeralda County approximately 30 km southwest of Goldfield. The primary target at Imperial is shallow, oxidized, Carlin-style gold mineralization. A secondary target at Imperial is high-grade gold mineralization hosted by the Imperial Fault. Numerous companies have explored the project area and several drill holes have intersected a significant thickness of oxide gold mineralization returning gold values ranging up to 0.385 opt gold (13.2 gpt). Nine rock samples were collected from the Imperial property during the recent property examination. The rock samples were collected from jasperoid outcrops and subcrops, with two of the samples collected from small adit dumps. Four of the jasperoid samples returned anomalous concentrations of gold ranging from 0.022 opt gold (0.770 gpt) to 0.047 opt gold (1.615 gpt). These four samples were collected over a strike length of 1.56 kilometres in an east-west direction. In addition, one of the waste dump samples returned 0.116 opt gold (3.98 gpt). All of the anomalous gold samples also contain elevated levels of silver and the pathfinder elements arsenic, mercury, antimony and barium. These results confirm the mineralized nature of this property. The Hercules Project is located in Lyon County, 25 miles (40 km) southwest of Reno and 10 miles away from the historic Comstock mine where bonanza mineralizaton averaged ~2 opt gold (~70 gpt) and 50 opt silver (1,700 gpt). Previous exploration on the Company's Hercules property has identified eight zones of epithermal style mineralization along en echelon structural zones. Drilling by several companies, including Asamera, St. Joe, Horizon Gold, and Phelps Dodge, totals 176 holes comprising over 33,000 ft however, no systematic deep exploration of the high-grade vein targets has been done. The historic exploration did not evaluate the deep potential of the Hercules system but did demonstrate the extensive nature of the mineralization. At Hercules, vertical and horizontal zonation of the alteration is locally pronounced and gold mineralization is associated with the more intense zones of alteration. Thick zones of intense silicification and quartz veins occur between narrow zones of advanced argillic alteration. Alteration and mineralization are controlled by fault zones and zones of higher permeability within the mineralized section. Eight rock samples were collected by Global from the Hercules property. Five of the samples carried gold values over ~0.03 opt gold (~1 gpt) and up to 0.059 opt gold (2.01 gpt). Of the eight zones of mineralization on the Hercules property, five offer the greatest potential for identification or increase of a gold resource. There is potential to discover deeper bonanza-style mineralization as well as the potential to increase the existing near-surface gold and silver mineralization. Miranda has the option to acquire a 100% interest in each of these project, subject to a 3% net smelter return royalty ("NSR"), of which 2% can be purchased, leaving a 1% NSR on each property. On behalf of the Board "Dennis L. Higgs" President | ||||||||||||||
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