Miranda Gold and Prism Resources Discover Widespread Gold Mineralisation at Cerro Oro, Colombia
Jun 3 15
Miranda Gold Corp. and Prism Resources Inc. to provide an update on work completed on the Cerro Oro project, Caldas Department, Colombia. Cerro Oro is a robust low-sulfidation epithermal gold system with the potential to provide substantially higher grades than the typical low-grade porphyries seen in the Cauca Belt. Geologic investigations at Cerro Oro suggest that high-grade feeder veins act as conduits to mineralize adjacent permeable and well fractured wall rock over substantial widths. Reconnaissance prospecting, mapping and 286 channel samples by Miranda in the last year have identified numerous 1-2m wide, high-grade gold veins, coarse stibnite (+/- gold) veins and broad zones of lower grade fracture-controlled, stockwork and disseminated gold mineralization. Visible gold can be panned from almost any grade range of channel samples, and also from all drainages on the project. Hydraulic mining of gold from insitu rock in creek beds has a long history in the district. The veins provide assay results over 1 to 2m widths from less than 3 g Au/up to 15 g Au/t. Eleven small artisan adits on the property explore parallel veins along a 1.5km northeast strike length. Locally fractured wall rock adjacent or distal to the veins carry values from less than 0.300 g Au/t up to 2m @ 7.04 g Au/t and 6.5m @ 1.94 g Au/t. The best and most consistent wall rock values occur in drainages that parallel the northeast trend of adits. Exposure is extremely limited outside of drainages and adits, but mapping suggests alteration and mineralization occur over a 1.5sq km area. The veins display two stages of abundant adularia. Bladed quartz after calcite is observed on artisan mine dumps. Adularia and bladed quartz both indicate proximity to boiling zones, which can be associated with bonanza grade gold mineralization. Multistage quartz and particularly multistage adularia can represent overprinting mineralization events that enrich gold vein grades. Commonly stibnite (Sb) occurs as a high-level mineral above gold in epithermal veins. Thus the coarse stibnite rich-gold poor veins may contain high-gold at depth. The exploration model for Cerro Oro is for a series of parallel northeast trending, high-grade veins, that occur internal to broad zones of lower grade gold in surrounding permeable wall rock.
Miranda Gold Corp. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended February 28, 2015; Announces Write-Off of Exploration and Evaluation Assets for the Second Quarter Ended February 28, 2015
Apr 23 15
Miranda Gold Corp. announced unaudited consolidated earnings results for the second quarter and six months ended February 28, 2015. For the quarter, the company reported interest earned of CAD 11,064,000 against CAD 19,373,000 a year ago. Loss for the period was CAD 525,935,000 against CAD 571,876,000 a year ago. Comprehensive loss for the period was CAD 568,209,000 against CAD 528,492,000 a year ago. Basic and diluted loss per common share was CAD 0.01 against CAD 0.01 a year ago.
For the six months, the company reported interest earned of CAD 24,066,000 against CAD 40,317,000 a year ago. Loss for the period was CAD 1,110,807,000 against CAD 1,468,117,000 a year ago. Comprehensive loss for the period was CAD 1,187,516,000 against CAD 1,393,158,000 a year ago. Basic and diluted loss per common share was CAD 0.01 against CAD 0.02 a year ago. Cash outflow from operating activities was CAD 903,939,000 against CAD 1,466,253,000 a year ago. Equipment purchases were CAD 2,094,000 against CAD 2,000,000 a year ago.
The company announced write-off of exploration and evaluation assets of CAD 15,555,000 for the second quarter ended February 28, 2015.
Miranda Gold Corp. Announces Board Changes
Feb 17 15
Miranda Gold Corp. announced that Ian Slater has resigned as a director of Miranda, in order to focus on Red Eagle's development of the San Ramon project in Colombia. He has served as a non-executive independent director and most recently audit committee chair since December 10, 2007. The Board appointed Kevin Nishi to its Board and as chair of the audit committee. Mr. Nishi is a Chartered Accountant and Chartered Business Valuator in practice with Smythe Ratcliffe LLP, Chartered Accountants. He has been a partner of the firm since 1996. Mr. Nishi holds a Bachelor of Business Administration from Simon Fraser University. Mr. Nishi has extensive background in accounting and auditing for public and private companies and he is a director of several publicly traded mineral exploration companies.