Vancouver — Field work by
Horse Mountain is one of several projects owned by Miranda in Nevada’s Cortez trend.
The junior’s strategy in the region, and elsewhere in Nevada, is to generate and advance projects to the stage where they attract the attention of senior mining companies. Miranda now has joint ventures with four major companies, including Barrick.
The company’s previous work at Horse Mountain revealed low-grade mineralization in strongly oxidized and altered carbonate rocks presumed to be part of the lower-plate assemblage.
Barrick will carry out a geophysical survey to define favourable structural trends and targets.
The major can earn an initial 60% interest in Horse Mountain by spending US$2 million over four years, and boost this to 70% by spending another US$6 million over a further six years. It can then earn an additional 5% by advancing the project to the feasibility stage.
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