Miranda Gold Uncovers New High-Grade Vein at Willow Creek

Vancouver, BC-based mining company Miranda Gold announced today the discovery of a new high-grade gold vein at their Bullion Mountain mine in Willow Creek, Alaska.

The vein is 800m long and open but also includes three quartz subveins that have been assayed at 1.48 oz/tonne, .50 oz/tonne, and .53 oz/tonne.

A neighboring mine, the Gold Bullion Mine has already produced 77,000 ounces at 1.4 oz/tonne.

Miranda Gold holds an 80-year lease on most of the Willow Creek Mining District with historical mines including the Lucky Shot, War Baby, Coleman, Nippon, and Gold Bullion.

Willow Creek veins typically do not outcrop but can be found easily by close-spaced soil sampling. The new tests reveal comparable findings to those tested at the upper Coleman segment of the Lucky Shot mine, where a grade of 24.6 g/tonne and an estimated 62,100 ounces are contained.

Gold at Willow Creek is found in low-sulfide mesothermal quartz veins and the district contains 75 patented lode claims totaling 8,700 acres.

The historic production from land leased by Miranda is more than 500,000 ounces, mostly from three closely grouped veins at the Lucky Shot mine.

A joint-venture is currently being made with Gold Torrent Inc. with Gold Torrent Inc. supplying the initial $10 million in start-up costs. Miranda will receive 10% of the proceeds until the loan is repaid where they will then receive 30%.

Miranda Gold Corp is a gold exploration company with a focus on operations in Colombia, Nevada, and Alaska.