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GOLD EXPLORATION – Miramar uncovers new zone at Hope Bay project

NUNAVUT - Vancouver-based MIRAMAR MINING reports a significant new zone of mineralization 400 metres north of the B...


NUNAVUT – Vancouver-based MIRAMAR MINING reports a significant new zone of mineralization 400 metres north of the Boston zone at its Hope Brook gold project. The new BN zone is thought to be the folded extension of the main Boston B2 resource. The BN zone is interpreted to have been locally altered in the fold closure area, creating an area of “generally wide and slightly lower-grade mineralization,” according to the company. Previously, drilling at the Boston area concentrated on quartz veining.

Miramar reported more good news, saying the Naartok East zone has been extended. The most recent hole, 120 metres north of the zone, intercepted 14.3 g/t Au over 12.0 metres. Drilling also continues to encounter significant volumes of lower grade mineralization between the Naartok/Rand gap and the Naartok East and Naartok West junction. Both these areas may have open pit potential, said the company.

The objective of Miramar’s 2006 exploration campaign at Hope Bay is to define a second phase of production following the proposed Doris North project, which is now in the permitting process. Modelling of the Madrid area (which includes the Naartok, Rand and Suluk deposits) indicated the potential for much larger scale operations than contemplated earlier. Drilling is focused on determining the continuity in the gaps between these deposits as well as infill drilling the previously identified mineralization. The objective of these efforts is to ultimately determine the optimal throughput for any contemplated mill as a second phase. Both 6,000- and 15,000-tonnes/day options are being studied.

Detailed information is available at www.MiramarMining.com.


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