Miranda Intersects High-Grade Gold Mineralization At RedCanyon

 

VANCOUVER, BC - Miranda Gold Corp. reported results from a three hole, 1,137 ft (346.6 m) core drilling program at Red Canyon, a sediment-hosted gold project in Eureka County, Nevada. Miranda's exploration funding partner, Montezuma Mines Inc., a wholly owned subsidiary of CMQ Resources Inc., is the first company to test the project with core drilling in over two decades of historical exploration.

Drill holes MR09-05C and MR09-06C were designed to follow-up known gold mineralization at Red Canyon's Ice prospect and as such are not new discovery holes. MR09-05C intersected 119 ft of 0.152 oz Au/t (36.28 m of 5.25 g Au/t). This result verified the results in KR-001, a reverse circulation hole which intersected 95 ft of 0.117 oz Au/t from 20 to 115 ft (29.0 m of 4.012 g Au/t from 6.1 to 35.1 m), but with 30% higher grade and 25% greater thickness. MR09-06C intersected 60 ft of 0.10 oz Au/t (18.29 m of 3.43 g Au/t). MR09-04C had no significant assays.

Montezuma's drilling has been permitted through a Notice of Intent (NOI) with the Bureau of Land Management. The NOI limits surface disturbance to a maximum of 5 acres (2 hectares). Currently, Montezuma and Miranda geologists recognize eight unique target areas that require multiple phases of drilling. To test these targets, Montezuma has initiated the permitting process for an Exploration Plan of Operations (POO). When complete, the POO will allow for more than 5 acres (2 hectares) of surface disturbance and increased flexibility in drill testing a variety of targets across the property.

The company’s address is Unit 1, 15782 Marine Drive, White Rock, BC V4B 1E6, (604) 536-2711, fax: (604) 536-2788, email: [email protected].