NUNAVUT Vancouver’s MIRAMAR MINING CORP. is excited that mineralization in the Naartok area has been expanded by the winter drilling program at its Hope Bay gold project. The area has potential to host a significant shallow, bulk tonnage gold deposit, according to the company.
Highlights from the Naartok-Perrin drill results include an staggering 140.9 g/t Au over 1.0 metres in hole 04PMD265 from 335.6 to 336.6 metres below surface. The total mineralized intersection in that hole was 20.9 metres which assayed 10.5 g/t Au. Miramar cautions that the true width of these intercepts is not currently known due to the complex geology of the area and may be reported differently as more is learned about it.
Permitting delays have forced the company to push back the anticipated start of production from the Doris North project into 2006, if all critical permits are received by the middle of 2005. The move was necessitated because public hearings were pushed back to July 11-16 and there is uncertainty related to the federal election on June 28.
Miramar controls two of the largest undeveloped gold deposits in Canada. The Hope Bay project in Nunavut is 100% owned by Miramar, extends over 1,000 km and encompasses one of the most prospective undeveloped greenstone belts in Canada. Miramar also has an option to earn a 60% interest in the Back River project in Nunavut, containing the George and Goose Lake gold deposits. Complete information on these projects is posted at www.MiramarMining.com.