Nevada Cortez Gold Trend
4th largest gold producing area in the world
Message: Miranda Acquires Minagrande in Colombia
VANCOUVER, British Columbia (Business Wire) -- Miranda Gold Corp. ("Miranda") (TSX-V: MAD) announces
the purchase of the Minagrande Project in the Antioquia department,
Colombia. Minagrande project covers approximately 4,630 hectares and is
located approximately 146 km northeast of Medellin and 10 km south of
the Gramalote deposit. It lies within the Antioquia Batholith and within
lineaments that extend south from the Gramalote area. Gramalote is an
intrusion related gold deposit that is reported to contain a total of
2,535,493 measured and indicated ounces at a grade of 0.81g Au/t that
currently is being explored by AngloGold Ashanti and B2Gold Corp.
The Minagrande project was targeted by Miranda for acquisition using
lineament analysis of DEM (Digital Elevation Model) and TM (Thematic
Mapper) inferred faults combined with ASTER (Airborne Space Thermal
Emission Reflectance) alteration analysis. A coarse filter screen of
ASTER alteration products showed that the Gramalote and Minagrande areas
both contain supergene alunite which is probably an indirect indicator
of system-related alteration. A finer filter screen of
Aster-image-detected alteration showed probable hypogene illite that
appeared to have a distribution that correlated to a northwest
structure. Illite is stable clay in most significant gold systems. The
northwest structure can also be seen in TM images. Reconnaissance
prospecting showed anomalous gold mineralization in a granite-hosted
northwest-trending fault zone with high-density fracturing and shear
textures. This is the first targeted area funded for acquisition by the
strategic alliance with Agnico Eagle Mines Limited. Additional work will
determine whether this project meets the criteria of a Designated
Property (see Press Release February 19, 2013).
At Minagrande gold mineralization is hosted in granitic rocks of the
Antioquia Batholith, with phases of medium grained granodiorite to
tonalite and with local basalt dikes. Mineralization is associated with
a northwest trending fault zone approximately 4 km long. The width of
the fault zone can't be determined at the surface. Only two samples were
taken from the fault zone and they returned assays of 0.951 and 0.820 g
Au/t. Additional sampling has been conducted and assays are pending.
Bismuth occurs erratically with gold on the property.
There are other silicified shear zones and clay altered shear zones with
anomalous gold that warrant further prospecting.
Minagrande may provide a target analogue for either a Gramalote style
(oxidized intrusion-related fracture and vein swarms) or a San Ramon
style deposit (mesothermal gold hosted by a shear/fault zone).
Early exploration work will include trenching and trench sampling to
determine the width of the surface mineralization within the fault zone.
A soil grid oriented to cross the strike of the 4 km fault zone will be
conducted to indicate additional trenching targets and ultimately
The agreement for Minagrande requires staged payments of US92,000.
Miranda has already made the canon payment (government fees) and
the application has been accepted by, and is pending registration with,
the national mining registry. Upon completion of the payments, Miranda
will own 100% of Minagrande with no other obligations.
Data disclosed in this press release, have been reviewed and verified by
Vice President of Exploration Joseph Hebert, C.P.G., B.Sc. Geology and
Qualified Person as defined by National Instrument 43-101.
Miranda Gold Corp. is a gold exploration company active in Nevada and
Colombia and whose emphasis is on generating gold exploration projects
with world-class discovery potential. Miranda performs its own grass
roots exploration and then employs a joint venture business model on its
projects in order to maximize exposure to discovery while minimizing
exploration risk. Miranda has ongoing relationships with Agnico Eagle
Mines Ltd., Montezuma Mines Inc., Navaho Gold Ltd., Ramelius Resources
Ltd., and Red Eagle Mining Corporation.
ON BEHALF OF THE BOARD
Kenneth CunninghamPresident and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
U.S. investors are cautioned that mineral deposits on adjacent
properties are not indicative of mineral deposits on our properties. We
advise U.S. investors that the SEC's mining guidelines strictly prohibit
information of this type in documents filed with the SEC.
This news release contains forward-looking statements that are based
on the Company's current expectations and estimates. Forward-looking
statements are frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate",
"suggest", "indicate" and other similar words or statements that certain
events or conditions "may" or "will" occur. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that could cause actual events or results to differ materially
from estimated or anticipated events or results implied or expressed in
such forward-looking statements. Such factors include, among others: the
actual results of current exploration activities; conclusions of
economic evaluations; changes in project parameters as plans to continue
to be refined; possible variations in ore grade or recovery rates;
accidents, labour disputes and other risks of the mining industry;
delays in obtaining governmental approvals or financing; and
fluctuations in metal prices. There may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. Any forward-looking statement speaks only as of the date on
which it is made and, except as may be required by applicable securities
laws, the Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information,
future events or results or otherwise. Forward-looking statements are
not guarantees of future performance and accordingly undue reliance
should not be put on such statements due to the inherent uncertainty
Please click on the following link to view the map associated with this
press release: http://www.usetdas.com/pr/mirandagoldmap.jpg
Miranda Gold Corp.Joe Hebert, 775-738-1877Vice
Please login to post a reply