Mr. Kenneth Cunningham reports
MIRANDA APPLIES FOR FOUR EXPLORATION LICENSES IN THE ANTIOQUIA BATHOLITH, COLOMBIA
Miranda Gold Corp. has applied
to the Agencia Nacional de Mineria for four exploration licences
in two prospective areas in the Antioquia batholith. Miranda made the
applications on July 2, 2013, the day that a two-year moratorium for
applications in Colombia was lifted. The applications together cover
approximately 5,600 hectares. The applications are from 48 to 139 kilometres northeast of Medellin in the Antioquia department.
Exploration work and the new application costs were financed under the
strategic alliance with Agnico Eagle Mines Ltd. Additional work will
determine whether the areas meet the criteria of a designated property
pursuant to the alliance (see press release Feb. 19, 2013).
Miranda's work in the Antioquia batholith is focused on generating
projects that contain target analogues to Gramalote (intrusive-related
sheeted-vein gold mineralization) or San Ramon (mesothermal gold in
shear zone). Gramalote is being explored by AngloGold Ashanti and B2Gold
Corp. and San Ramon is owned by Red Eagle Mining Corp. Both
Gramalote and San Ramon are in the mine permitting stage, which confirms
the Antioquia batholith as a productive exploration domain.
These new applications were generated by following the same generative
process that resulted in Miranda's Minagrande acquisition in May of this
year. At Minagrande, the primary target is a four-kilometre-long gold-anomalous
fault and shear zone. It was recognized by detecting
illite-kaolinite-alunite anomalies that were associated with significant
structural zones in a regional structural domain that contains the
Gramalote deposit. Based on Miranda's in-house processing and
investigations, illite occurs as a stable clay in most significant gold
systems and significant ASTER (advanced spaceborne thermal emission and
reflection) anomalies are associated with several known deposits in
Colombia. The new applications also occur in areas where historic
government reports indicate anomalous metal values and the presence of
alluvial gold operations.
Miranda has begun reconnaissance prospecting on these new applications
and has also initiated a four-kilometre-by-one-kilometre soil grid at the Minagrande
project. This soil grid sampling will focus on the Minagrande
fault-shear zone target. Following the sampling it is anticipated that
anomalous areas will be trenched, including an outcropping altered area
in the shear zone where gold-bearing samples have been collected.
Data disclosed in this press release have been reviewed and verified by
vice-president of exploration Joseph Hebert, CPG, BSc geology, qualified person as defined by National Instrument 43-101.
We seek Safe Harbor.
© 2024 Canjex Publishing Ltd. All rights reserved.