MMH - Miranda Mineral Holdings Limited - Further Joint Venture ("JV") signed on
MMH
MMH
MMH - Miranda Mineral Holdings Limited - Further Joint Venture ("JV") signed on
North West Diamond Project
Miranda Mineral Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1998/001940/06)
Share code: MMH ISIN: ZAE0000074019
("Miranda" or "the group")
Further Joint Venture ("JV") signed on North West Diamond Project
The board of Miranda is pleased to inform shareholders that the company has
entered into a further joint venture with "Nel Delwery" to prospect for diamonds
on the groups North West Diamond project.
The project consists of two contiguous farms, Turfontein 126IQ and
Blaaubank125IQ measuring approximately 7000 hectares in extent and situated
between Carltonville and Potchefstroon.
The farms are situated in the center of an established alluvial diamond mining
area and border on the farms Muiskraal and Reivallei to the west - both
historically rich alluvial diamond producing areas.
Due to the large area involved (7000 hectares) the company`s strategy has been
to divide the prospecting area up into 700 hectare portions and to appoint
separate JV partners on each these 700 hectare portions and in this way maximize
the prospecting activities.
The current JV represents the fourth such agreement, in terms of which, Nel
Deverey will prospect on Portion 2 of the farm Turfontein 126IQ.
The results achieved so far on this project have yielded very promising results,
with an average grade of 1.8 cts/100 ton being achieved and prices ranging from
$180 per ct to $587 per ct for Run of Mine (RoM) production.
The second phase of the geophysical testing on the farm Turffontein has been
completed and has identified numerous potential potholes and paleo channels
which will be confirmed by a drilling program starting at the beginning of the
third quarter of this year.
19 June 2008
Sponsor:
Sasfin Capital
(A division of Sasfin Bank Limited)
Corporate Advisor:
Qinisele Resources
Date: 19/06/2008 07:05:09 Produced by the JSE SENS Department.
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