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Summary Click here to view the Angel Wing Photo Gallery The Angel Wing property consists of 95 unpatented lode claims (3.1sq mi / 8.0sq km) in northeast Elko County, Nevada (Figure 1). Two styles of epithermal gold mineralization are associated with a +6 mile (9.6km) long, northeast-striking structural zone that cuts Permian and Triassic carbonate rocks, and Tertiary sedimentary / volcanic rocks. High-grade, surface samples up to 2.700 oz Au/t (92.5g Au/t) occur in steeply dipping quartz-calcite-adularia "bonanza" veins within Triassic limestone. The high-grade veins remain untested in a zone measuring one mile (1.6km) along strike, 1,200 feet (366m) wide and at depth. Surface sampling also identified disseminated, sediment-hosted gold mineralization up to 0.283 oz Au/t(9.710 g Au/t) in silicified and clay altered Paleozoic and Tertiary rocks. Shallow drilling for disseminated gold returned 0.047 oz Au/t over 50 feet (1.609 g Au/t over 15.2m) in drill hole DC-7.  click to enlarge Location The Angel Wing property is located 30 miles (48km) north of Montello, Nevada. The property is immediately west of the Utah border in section 24, T 44 N, R 69 E and sections 18 and 19, T 44 N, R 70 E. Access from Montello is along a gravel road that is drivable from early April through late November. Geology The oldest rocks exposed are Permian and Triassic limestone, siltstone, bioclastic limestone and calcareous sandstone (Figure 2). Strongly carbonaceous, thin-bedded limestone has been encountered in drill holes. These rocks are broadly folded and unconformably overlain by Tertiary fanglomerates, tuffs and basalt. Overlying and intruding this package are rhyolite and post-mineral rhyodacite. North-south high angle faults disrupt stratigraphy and provide controls for hydrothermal fluids. A gravity survey completed at the property reemphasized the extent and presence of the north-south structures proximal to the mineralized veins and, Triassic and Tertiary sediments (Figure 2 and 9). Two styles of gold mineralization occur at Angel Wing including:
Low-level gold with high indicator elements occurs over a wide area in opalized and alunite altered Tertiary rhyolite and sediments. This is believed to be the highest preserved level of the hydrothermal system and is defined by a "blanket" zone of silicifcation that formed at the paleo-groundwater table. Multiple north-trending structural zones exhibit strong alteration of this type and may be good indicators of high-grade mineralization at depth. Very little prospecting and no drilling has been done on this target area.  click to enlarge  click to enlarge  click to enlarge  click to enlarge Exploration History In the late 1980's, Amax Gold staked claims and drilled at White Rock Mountain, approximately two miles north of the Angel Wing property. Amax identified an 8 million ton grading 0.017 oz Au/t resource in the Permian Murdock Mountain Formation. Two holes were also drilled in the southern part of this large claim group, in an area now covered by the Angel Wing claims. Mount Isah Mines, Kennecott and Terraco Gold also conducted exploration programs north of the present Angel Wing claims. In 1991, Teck Resources conducted a regional stream-sediment program that was followed up with staking of a claim block in the Death Creek area. Mapping, soil and rock sampling defined a large area of anomalous gold in a variety of host rocks (Figure 6). A total of twenty-nine holes were drilled in four phases from November 1991 to November 1995. Mostly vertical drilling targeted shallow, disseminated gold in limestone to a maximum depth of 600 feet. Drill holes within the existing claim block are illustrated on Figure 7.  click to enlarge  click to enlarge Target Discussion The Angel Wing property contains gold mineralization in a variety of settings and host rocks. Gold-bearing quartz veins and structures have a strike length of at least four miles in a north-south direction. Most structures are poorly exposed, or concealed by younger Tertiary rocks which are either unreceptive hosts or too high in the paleo-hydrothermal system. Past exploration focused on shallow, bulk minable gold deposits, and the outcropping, high-grade veins were essentially ignored. Surface geologic patterns indicate favorable conditions exist for the discovery of a bonanza-grade gold deposit at depth. Several well-defined targets exist on the property. Two previous vertical drill holes, DC-4 and DC-7 encountered highly anomalous gold just below the Tertiary unconformity in jasperoid and quartz/after calcite veins (Figure 8). High-grade veins are poorly exposed south of these drill holes and generally define a north-south zone of mineralization. The veins appear to be steeply dipping and have not been trenched/mapped/sampled or drill tested. Similar veins with up to 0.015 oz Au/t (0.514g Au/t) crop out one mile (1.6km) north of these exposures and are interpreted as part of the same structural trend. Systematic soil sampling, geologic mapping trenching and inclined drilling are recommended to evaluate these targets for their gold potential. Opalized zones within the overlying rhyolite coincide with projections of known mineralized structures and probably reflect high level, steam-heated alteration related to these zones. Very little work has been done to assess the relationship between this high level alteration and mineralization at depth. Additional geologic mapping and geochemistry may resolve and upgrade concealed high-grade vein targets below this alteration.  click to enlarge  click to enlarge Joint Venture Exploration Miranda Gold signed an exploration funding agreement with White Bear Resources Inc. in May 2007. A minimum work expenditure of $300,000 is required in the first year of the agreement. Exploration work was postponed pending completion of White Bear's IPO and public listing, which was completed in 2009. Drilling is expected in 2010. This disclosure contains information about properties which we have no right to explore or mine. We advise U.S. investors that the SEC's mining operations disclosure guidelines generally preclude disclosing information of this time in documents filed with the SEC as we must focus on properties in which we do have an interest. U.S. investors are cautioned that mineral deposits on adjacent properties are not necessarily indicative of mineral deposits on our properties. |
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