Miranda Gold Corp. ("Miranda") (TSX-V: MAD) is pleased to
announce an agreement with Alaska Hardrock Inc. (AHI) for the
Willow Creek Project, 75 mi (121 km) miles north of Anchorage,
Alaska. The project is accessed by well-maintained roads that can
be used year round. The Willow Creek Project covers the majority of
the Willow Creek mining district and contains 75 patented lode
mining claims and 62 State of Alaska lode mining claims for a total
of approximately 8,700 acres (3,520 hectares).
The Willow Creek mining district is notable as the second
largest historic lode gold producer in Alaska. Before 1950, the
Willow Creek district alone had produced 5% of Alaska’s lode gold.
Recorded gold production between 1911 and 1942 (when L-208 closed
non-essential mining due to WWII) was 667,000 ounces at a grade of
1.2 oz Au/ton (41.1 g Au/t). Willow Creek gold is reported to be
free milling with greater than 80% recovery by gravity alone and
recoveries up to 95% reported from gravity and flotation
processing.
Historic production from land now controlled by Miranda is
estimated, by the Alaska Bureau of Mines at 500,000 ounces of gold,
primarily from three nearby workings developed on three faulted
segments of the same vein. The central working produced 250,000
ounces at 1.6 oz Au/t (55 g Au/t) from the Hogan stope that
measures 1,480 ft (450 m) horizontally and 660 ft (200 m) down the
vein on five main levels. Exploration drilling in a confined area
by a previous company and subsequent modeling by Miranda and Mine
Development Associates substantiates an unmined, up-dip extension
of the vein. Previous drilling indicates high-grade intercepts of
2.5 ft (0.76 m) at 2.4 oz Au/t (82 g Au/t) sixty-five feet (20 m)
below the Hogan stope. It is likely that significant gold occurs in
the vein beyond the level of workings. Miranda thinks that it is
possible that additional northeast raking, high-grade ore-shoots
could be discovered both up and down-dip of the immediate area of
the mines, and that the vein continues to the east and the west in
other faulted segments. Limited historic drilling to the east
reportedly discovered a blind vein segment with values to 1.6 oz
Au/t (55 g Au/t) at 820 ft (250 m) depths, below the depth of any
workings in the district. Several other historic mines that
produced plus-one ounce gold per ton occur on the property and a
few high-grade drill intercepts are reported below the level of
mining. Productive veins are commonly blind; undiscovered veins may
occur in the district as future exploration targets.
According to Joe Hebert, Miranda’s Vice President of
Exploration, “We see tremendous potential in the upside at Willow
Creek and as a prospect generator we think high-grade, low-risk
projects that can be advanced quickly are attractive to JV
partners.”
The vein is narrow but predictable and continuous with simple
metallurgy. Past mining was non-selective. Little material was left
in the Hogan stope, suggesting minable values of the period were
continuously distributed between the high-grade shoots. Miranda
feels the potential of the district is comparable to or higher than
recorded historic production, if shoots can be developed by
extending mineralization in the vein approximately 650 ft above
and/or below the historic workings. The style of vein
mineralization at Willow Creek is comparable to Mother Lode,
California where mineralization can extend to depths greater than ¾
of a mile (1.2km).
Miranda has signed a 20-year lease with AHI for 100% control of
the Willow Creek property. Under the terms of the lease, Miranda
has made a US$50,000 payment with a final US$100,000 due after a
ninety day due diligence period. Thereafter, the lease is subject
to annual payments of US$150,000 or, if production is achieved,
various net smelter royalties or revenues.
Project Details
At Willow gold is found in low-sulfide mesothermal quartz veins,
hosted in a tonalite intrusive associated with an east-west,
shallow to moderate north dipping, shear zone. Both vein and shear
material can have significant mineralization. Alteration includes
clay selvages and more widely dispersed carbonate alteration. The
average thickness of the veins is 5ft (1.52m) but stope widths to
24 ft (7.3 m) are reported. Gold is commonly coarse and often
visible in high-grade vein material, associated with banded
tellurides and sulfide. Very little gold is tied up in sulfides.
The central vein can be traced for over 1.2 mi (2 km) and there are
approximately 1.2 mi (2 km) of additional veins reportedly on the
project.
A previous operator permitted a test mining and bulk sample
milling program on the Willow project in 2009 and, according to
Miranda’s discussion with local agencies, the scope of permitting
has not substantially changed. Since the project is on both private
and Alaska state lands exploration and exploitation could proceed
rapidly.
Data disclosed in this press release, including sampling,
analytical and test data, 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.
Corporate Profile
Miranda Gold Corp. is a gold exploration company active in
Nevada, Alaska, 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 partnerships with Agnico-Eagle Ltd., Montezuma Mines
Inc., Prism Resources Inc., and Red Eagle Mining Corporation.
ON BEHALF OF THE BOARD
"Kenneth Cunningham"
Kenneth Cunningham
President and CEO
For more information visit the Company's web site at
www.mirandagold.com or contact Joe Hebert, Vice President,
Exploration at 775-738-1877.
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 therein.
To view this press release as a PDF, please click on the
following link:
http://www.usetdas.com/pr/mirandagold11212013.pdf
Miranda GoldJoe Hebert, 775-738-1877Vice President,
Explorationwww.mirandagold.com
Madeco (NYSE:MAD)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Madeco (NYSE:MAD)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024