Colombia possesses an exceptional geologic terrain for gold exploration, and a high endowment of gold both historically and now in modern times. In recent years Colombia has produced a very high discovery rate of plus-million ounce gold discoveries by a relatively small amount of active companies.
In the 19th century, Colombia was the world's largest gold producer. Currently Peru, Colombia's neighbor to the south, produces about 210 tons of gold per year from the metal rich Andean Cordillera. Three mineral belts of the Andean Cordillera extend through Colombia. The country's favorable geology creates an environment similar to that of Peru, allowing for the potential for numerous world-class gold discoveries.
Modern exploration in Colombia has until relatively recently been inhibited by political instability and security risks related to armed conflict between the Colombian army, right wing paramilitaries and left wing guerrillas, as well as violence associated with drug cartels. Combined, these factors created an unstable environment that made gold exploration difficult and investment questionable.
Under the government of Colombian President Alvaro Uribe, in office from 2002 to 2010, security issues impeding investment and exploration were diminished dramatically and now both major and junior gold companies active in Colombia conducting exploration. In the context of gold exploration, Colombia is now "open for business" as one of the least explored countries of South America and is a new frontier for the discovery of world class gold deposits.
Why Colombia for Miranda Gold?
Miranda's technical strength is in generating prospects that provide targets for world-class gold deposits. Colombia has a similar gold potential to Nevada for very similar geologic reasons. In addition, what Miranda's technical team is capable of in Nevada, it can also do in Colombia.
Miranda's joint venture business model will continue to be employed in Colombia.