Miranda issued right for Syferbult-Boons

[miningmx.com] — MIRANDA Mineral Holdings announced on Friday that the department of mineral resources has issued a new prospecting right for the group’s Syferbult-Boons gold project until 2013.

The Syferbult-Boons gold project is housed in Emerald Sky, in which Miranda’s wholly-owned subsidiary Molebogeng Mining Investment Holdings holds a 100% stake.

The prospecting right covers three contiguous farms over 4,831 ha in the Ventersdorp district of the North West Province.

Gold was first discovered in the area in 1874, prior to interest shifting to the then newly-discovered Witwatersrand goldfields. A preliminary prospecting programme in 1981 showed the presence of mineable gold reserves.

The mineralisation occurs in three different modes, namely primary mineralisation in vein quartz reefs, elluvial deposits and alluvial deposits.

Early samples showed grades of between 6g/t and 8g/t.

Linear resistivity surveys were previously completed over most of the area, indicating areas of deep weathering. According to the company, these deep weathered areas will require the acquisition of samples to test for gold content.

Miranda said regional reconnaissance will be carried out during the next three months. Investigations will include geological mapping of the area, geochemical sampling of the exposed sand, slime, and stone in the area and surrounding outcrop through grab sampling and further geological activities aimed at preliminary structural and geological field mapping.

The company will also conduct an exploration and proving phase.