Miranda Gold Reports Carlin-Style Gold Mineralization at Coal Canyon

Tag : quartzite

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/22/08 -- MirandaGold Corp. ("Miranda") ( TSXV:MAD )( MRDDF )(FRANKFURT: MRG) is pleased to report that the 2008 drill programat Coal Canyon intersected a thick section of anomalous goldmineralization at the Coal Canyon project in Eureka County, Nevada.In August 2008 Queensgate Resources Corporation ("Queensgate"),Miranda's exploration funding partner, completed 1,950 ft (594.5 m)of reverse-circulation drilling in two vertical holes.
Past exploration focused on the northwest-trending Grouse Creekfault that lies on adjacent claims controlled by others. Historicdrilling along this fault has reportedly encountered goldmineralization of up to 85 ft of 0.022 oz Au/t (26m of 0.754 gAu/t) in the Hanson Creek dolomite and the underlying Eurekaquartzite. Gold mineralization is associated with altered dikes,iron oxides and silicification.
The two recently-completed holes were designed to evaluatehydrothermally altered and geochemically-anomalous zones developedat north / northeast-striking fault intersections and to establishdepths of favorable stratigraphic horizons on Miranda's Coal Canyonproject. Drill results are summarized below:
Hole MCC-003 was drilled to a depth of 750 ft (228.7m) andintersected the Roberts Mountains Formation, an attenuated sectionof the Hanson Creek Formation and the upper Eureka Formation. Zonesof hydrothermal alteration (decalcification, silicification and/oriron oxidation) from 40 to 70 feet-thick (12 to 21 m) were focusedalong the Roberts Mountain/Hanson and Hanson/Eureka formationalcontacts.
Hole MCC-004 was drilled 1,360 ft (415 m) north of MCC-003 to adepth of 1,200 ft (365.8m). The hole intersected the lower half ofthe Roberts Mountains Formation and the upper, middle and a portionof the lower Hanson Creek Formation. Both of these formations arelower plate host rocks to mineralization elsewhere in the Carlinand Cortez Trends. Hydrothermal alteration in the form ofdecalcification, silicification, sooty pyrite cemented breccias,quartz-dolomite veins and disseminated sphalerite were bestdeveloped in the middle and lower Hanson Creek Formation. The holeintersected 10 ft of 0.011 oz Au/t gold from 980 to 990 (3.0m of0.392g Au/t from 298.8 to 301.8 m) within a sooty pyrite /silica-cemented breccia zone. This mineralization occurred within alarger, lower-grade gold zone that returned 230 ft of 0.004 oz Au/tfrom 970 to 1,200 ft (70.1m of 0.140g Au/t from 295.7 to 365.8m).The hole ended in anomalous gold mineralization.
Drill results in MCC-004 are significant as they represent thefirst Carlin-style, disseminated gold mineralization discovered onthe Coal Canyon project. These results will assist in the planningof future drilling programs.
All drill samples were collected with a reverse circulation drillusing 10 ft (3.1m) sample intervals. Samples were assayed by ALSChemex Laboratories, Inc. of Sparks, Nevada. Gold results weredetermined using standard fire assay techniques on a 30-gram samplewith an atomic absorption finish. QC/QA included the insertion ofstandards and blanks on a regular basis, and the collection ofduplicate samples.
The data disclosed in this press release have been reviewed andverified by Company Senior Geologist Steven Koehler, P. Geo., BSc.Geology and Qualified Person as defined by National Instrument43-101.
Corporate Profile
Miranda Gold Corp. is a gold exploration company active in Nevadaand whose emphasis is on generating gold exploration projectswithin the Battle Mountain-Eureka and Cortez Trends. Mirandaperforms its own grass roots exploration and then employs a jointventure business model on its projects in order to maximizeexposure to discovery while minimizing exploration risk. Mirandahas ongoing partnerships with Barrick Gold Exploration Inc.,Newcrest Resources Inc., the Cortez Joint Venture, the BuckhornJoint Venture, Piedmont Mining Company Inc., White Bear ResourcesInc., Queensgate Resources Corporation and Montezuma Mines Inc.
ON BEHALF OF THE BOARD
Kenneth Cunningham, President and CEO
This news release may contain information about adjacent propertieson which we have no right to explore or mine. We advise U.S.investors that the SEC's mining guidelines strictly prohibitinformation of this type in documents filed with the SEC. U.S.investors are cautioned that mineral deposits on adjacentproperties are not indicative of mineral deposits on ourproperties. This news release may contain forward-lookingstatements including but not limited to comments regarding thetiming and content of upcoming work programs, geologicalinterpretations, receipt of property titles, potential mineralrecovery processes, etc. Forward-looking statements address futureevents and conditions and therefore involve inherent risks anduncertainties. Actual results may differ materially from thosecurrently anticipated in such statements.


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