Miranda Acquires a Large Epithermal Project in Colombia

(firmenpresse) - MIRANDA ACQUIRES A LARGE EPITHERMAL PROJECT IN COLOMBIA



Vancouver, BC, Canada MAY 13, 2014 - Miranda Gold
Corp. ("Miranda") (TSX-V:
MAD)
is pleased to announce the acquisition of the Oribella p
ro
ject, in the Antioquia Department of Colombia. This new
project
lies
about 40km southwest of Medellin and was acquired
through a purchase agreement with Antioquia Gold
Inc
. (Antioquia Gold).

The Oribella project comprises approximately 10,700 hecta
res

including one exploration license and one application on
which the technical study is complete and the canon
already
paid.


Oribella falls within the Western Cordillera close to
the convergence of regional structures which reflect a
suture zone between Cretaceous oceanic rocks and mixed
oceanic-continental rocks to the
east.
Miranda was attracted to the area by mineralization
controls inferred to be related to the suture zone and
reported geologic features which suggested a large area
of high-sulfidation epithermal Au-Cu mineralization.
The target concept

at Oribella is analogous to the California Vetas
District

in the Santander Department where both large, low-grade
(Angostura
) and very high-grade (La Bodega) deposits occur in the
same
system.
High sulfidation systems in the Andes, particularly in
Colombia are commonly overprinted by
low
-sulfidation bonanza gold veins.

The local geology consists of volcanic and
volcano-clastic sequences, sedimentary rocks, and
hypabyssal andesite and dacite intrusives that appear
related to gold mineralization.

Of particular interest is a large kilometer-scale area
of alteration that includes strong silicification,

brecciation, alunite and pyrophyllite and clays

associated with anomalous

grades of gold and copper. This alteration is consistent
with high sulfidation style of gold mineralization.



Anomalous rock samples are found in an area of poor
exposure approximately 2km by 1km long, with

gold values from 0.160 g Au/t to 9 g Au/t. Copper values
range

from 30 ppm to over the detection limit of 10,000 ppm or
1.0%

Cu. Tellurium, barium and bismuth are commonly
associated trace
elements.


During its reconnaissance, Miranda noted significant
areas where vegetation

appeared distressed and or limited to one predominant
species
suggesting high metal grades in soils. In some of these
areas
, road cuts showed alteration and intense fracturing fill
ed with
hematite
. These areas are unsampled but may indicate extensions
of alteration zones where metals in the soils have
influenced vegetation.



Agreement Details

Miranda acquired the Oribella project through an
agreement with Antioquia Gold. Oribella is subject to a
0.5% royalty to Antioquia Gold that can be purchased
for

US$1,500,000 and a 2% royalty to Soratama Gold (a wholly
owned subsidiary of Barrick Gold
Corporation)
. Miranda acquired the property, subject to the
royalties, by agreeing to

pay the license canon due on May 14, 2014 of
COP110,803,026 (approximately
US$58,000)
and to reimburse Antioquia Gold for the application
payment
of 101,136,976 (approximately US$53,000) when it is
registered with the ANM as a contract. If the
application is converted to a license on or before the
anniversary of the agreement Miranda will pay Antioquia
Gold an additional

US$30,000 payment on the anniversary date. No other
obligations are required to keep the project in good
standing and Miranda may drop or reduce the lands at
any
time.


Data disclosed in this press release, have been reviewed
and verified by

Mirandas Executive Vice President Joseph Hebert,
C.P.G., B.Sc. Geology and Qualified Person as defined
by National Instrument
43-101.


About Miranda

Miranda Gold Corp. is a gold exploration company active
in
Nevada
, Alaska and Colombia and whose emphasis is on
generating gold exploration projects with world-class
discovery potential. Miranda performs its own grass
roots exploration and then employs a joint venture
business model on its projects in order to maximize
exposure to discovery while minimizing exploration
risk. Miranda has
o
ngoing relationships with Agnico Eagle Mines Ltd., Prism
Resources,

Montezuma Mines Inc., and Red Eagle Mining Corporation.

For more information related to Miranda: Joe Hebert,
Executive Vice
President

775-738-1877
www.mirandagold.com

Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.


U.S. investors are cautioned that mineral deposits on
adjacent properties are not indicative of mineral
deposits on our properties. We advise U.S. investors
that the SEC's mining guidelines strictly prohibit
information of this type in documents filed with the
SEC.
This news release contains forward-looking statements
that are based on the Company's current expectations
and estimates. Forward-looking statements are
frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate",
"estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions
"may" or "will" occur. Such forward-looking statements
involve known and unknown risks, uncertainties and
other factors that could cause actual events or results
to differ materially from estimated or anticipated
events or results implied or expressed in such
forward-looking statements. Such factors include, among
others: the actual results of current exploration
activities; conclusions of economic evaluations;
changes in project parameters as plans to continue to
be refined; possible variations in ore grade or
recovery rates; accidents, labour disputes and other
risks of the mining industry; delays in obtaining
governmental approvals or financing; and fluctuations
in metal prices. There may be other factors that cause
actions, events or results not to be as anticipated,
estimated or intended. Any forward-looking statement
speaks only as of the date on which it is made and,
except as may be required by applicable securities
laws, the Company disclaims any intent or obligation to
update any forward-looking statement, whether as a
result of new information, future events or results or
otherwise. Forward-looking statements are not
guarantees of future performance and accordingly undue
reliance should not be put on such statements due to
the inherent uncertainty
therein.

Unternehmensinformation / Kurzprofil:
Leseranfragen:
Bereitgestellt von Benutzer: irw
Datum: 13.05.2014 - 13:47 Uhr
Sprache: Deutsch
News-ID 331457
Anzahl Zeichen: 8053

contact information:
Town:

Wien

Kategorie:

Business News

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"Miranda Acquires a Large Epithermal Project in Colombia
"
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