Miranda Gold Stakes Claims in South Pequop Mountains

Miranda Gold Stakes Claims in South Pequop Mountains

Miranda Gold Corp. staked 69 claims that comprise the East Spruce Project in the South Pequop Mountains in Elko County, Nevada. The project is located approximately 34 mi (55 km) southeast of Wells, Nevada and approximately 28 miles (45 km) to the south-southwest of Fronteer Gold’s Long Canyon gold deposit. The project covers approximately 2 sq mi. (5.2 sq. km).

Regional aeromagnetic data suggest that the East Spruce Project lies on the margin of a large buried intrusion that is part of a northeast alignment of intrusive rocks that extends 90 mi (150 km) from the Bald Mountain Mining District, located to the southwest, through the new Pequop (Long Canyon) Mining District to the northeast and farther northeast to the Tecoma (gold) District. Internal ore controls to deposits on this trend are also oriented northeast.

Miranda is pleased to be positioned in this northeast trend of intrusive rocks, which may reflect the orientation and locus of a newly emerging Nevada gold trend evidenced by the Long Canyon discovery (1.4 M ounce gold resource).

The geology of the East Spruce property and peripheral areas include north-northwest and northeast-trending faults, and a north-northwest-trending anticlinal fold of Lower Permian Pequop / Rib Hill Formations and the Pennsylvanian Riepe Spring Limestone. The Rib Hill Formation is a known host to gold mineralization in the Star Pointer gold deposit in the Robinson Mining District near Ely, Nevada. The project is 0.5 mi (0.8 Km) northeast of Cretaceous quartz/granite porphyry intrusive rocks historically explored for molybdenum and copper in the Spruce Mountain Mining District.

Notably, many significant Carlin-style deposits such as Goldstrike, Pipeline and Cortez Hills occur along the margins of intrusive rocks with associated folding.

Replacement silicification with anomalous gold occurs proximal to the north-northwest axis of the anticline and along north-south and northeast-trending fault zones in the anticlinal limb areas. The fold is about 2 mi (3.2 km) long by 1.5 mi (2.4 km) wide. The north-trending fault zone projects into pediment to the south.

At the north end of the property, gold values in rocks are anomalous over a strike length of 2,000 ft (610 m) in a silicified and decalcified north-south fault zone hosted by fossiliferous limestone of the Lower Pequop Formation. Seven rock samples collected along the 2,000 ft-long trend range from 0.004 to 0.016 oz Au/t (0.148 to 0.548 g Au/t) with anomalous silver, arsenic, mercury, and a variable antimony, lead, and zinc association. Anomalous lead and zinc may reflect distal zoning from the porphyry system to the southwest.

Minor historic drilling is indicated from existing reclamation at the East Spruce property. No information is currently available from that drilling.

Miranda plans to advance the project and surrounding area with additional sampling and mapping to further understand a northeast-trending gold-bearing system that covers an area of 2.5 mi (4 km) long and 0.75 mi (1.2 km) wide.

In keeping with Miranda’s business model as a prospect generator a joint venture partner will be sought to explore the East Spruce property.

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