Miranda Gold Corp. announces that a helicopter airborne magnetic survey has started over its Pavo Real project in the Tolima Department of Colombia. Miranda’s exploration funding partner at Pavo Real, Red Eagle Mining Corporation (“Red Eagle”) has a contract with MPX Geophysics, Ltd. to complete the survey. The survey goals are to identify intrusions and their margins, magnetic destruction from alteration, and to delineate large-scale structures. The survey will total 1706 line-miles (2,746 line-kilometers) with east-west flight lines on 164 ft (50 m) spacing and north-south tie lines on 1640 ft (500 m) spacing. The sensor height is approximately 230 ft (70 m). Mapping and sampling at Pavo Real shows that gold mineralization is hosted in sandstone and conglomerate. Gold anomalies are associated with strongly anomalous bismuth and moderately anomalous copper values. There are several copper-gold-silver skarn deposits in the region, which contrasts to Pavo Real, which is not next to an intrusive body, the most common location for a skarn deposit. In general, as one moves away from intrusive bodies and related skarn deposits (“distal”), which are typically iron- or copper-rich with associated precious metals, the systems tend to become base-metal poor and gold enriched. Pavo Real is speculated at this time to have “distal skarn” or “distal disseminated” gold mineralization. Read More
