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Miranda Gold Options Pavo Real Concession from Expogold and Signs Shareholder Agreement With Red Eagle Mining
Miranda Gold Options Pavo Real Concession from Expogold and Signs Shareholder Agreement With Red ...
About this update from Barrick Mining Corporation
[{"type":"text","content":"\nMiranda Gold Options Pavo Real Concession from Expogold and Signs Shareholder Agreement With Red Eagle Mining\n\n\n Jun. 28, 2010 (Filing Services Canada) -- Miranda Gold Corp.  (MAD - TSX Venture), (?Miranda?) (TSX-V: MAD) has finalized the option agreement (?Pavo Option?) with ExpoGold Colombia S.A. (?ExpoGold?) to acquire the Pavo Real mining interest located in the department of Tolima, Colombia.  Miranda and ExpoGold signed an exclusive Association Agreement in December 2009 by which ExpoGold is executing Miranda?s project generative program to locate and acquire properties with the potential to host large gold systems in Colombia. The first project acquisition through this association is the Pavo Real mining interest. Recent channel sampling by ExpoGold of outcrops and old workings at Pavo Real has returned very encouraging results. Of the 82 samples collected, 32 samples, or 39%, assayed in excess of 0.029 oz Au/t (1.00 g Au/t) with the highest sample assaying 0.46 oz Au/t (15.89 g Au/t). Previous soil sampling on the project on three wide spaced lines defined a 2,300 ft (700 m) long by 330 to 1,640 ft (100 to 500 m) wide gold anomaly. Most of the new channel samples fall within the limits of the soil anomaly, although a single isolated sample taken 1,362 ft (415 m) southwest of the open soil anomaly has a 13 ft (4 m) sample width assaying 0.132 oz Au/t (4.52 g Au/t).  This anomaly indicates a new area for prospecting and additional soil grids.Miranda?s exploration funding partner at Pavo Real, Red Eagle Mining Corporation (?Red Eagle?) has hired an in-country project manager and designed an exploration program for the Pavo Real project. High-resolution satellite imagery and base maps have been acquired and an airborne magnetic survey is currently being mobilized.  A drill program will follow mapping and geochemical surveys. The program will constitute the base for a NI 43-101 Technical Report prepared for Red Eagle to be followed by an initial public offering and listing of Red Eagle on the TSX-Venture Exchange.Agreement Details The Colombian branch office of Miranda Gold Colombia III Ltd. (?MAD III?) is party to the Pavo Option agreement with ExpoGold.  In keeping with Miranda?s business model, Miranda has entered into a share purchase agreement (?SPA?) and shareholder...