MMH - Miranda - Progress report: Miranda signs thi
MMH
MMH
MMH - Miranda - Progress report: Miranda signs third exploration joint venture
agreement 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: ZAE000074019
("Miranda" or the company" or "the group")
Progress report: Miranda signs third exploration joint venture agreement on
North West diamond project.
The announcements dated 14 February, 17 March, 5 May and 15 May 2006 refers,
inter alia, to the group`s activities in gearing up to prospect for diamonds on
the farms Turffontein 126 IQ (3,738 hectares) and Blaauwbank 125 IQ (3,343
hectares), which are located in the centre of an established alluvial diamond
mining area in the Ventersdorp District ("the North West diamond project").
The Board is pleased to announce that the group has signed a further agreement
with an exploration JV partner, Goldbridge Mining (Pty) Ltd ("Goldbridge"), on
portion three of the farm Turffontein 126 IQ, the North West diamond project on
the following terms:
- a 20% revenue participation based on the gross proceeds of the sale of
diamonds recovered from the operation;
- an allocation by Miranda of approximately 700 hectares of the farm
Turffontein to be worked by "Goldbridge".
Goldbridge will commence with the initial aeromagnetic survey and drilling
program over the target area within the next few days, identifying and logging
the depth and characteristics of the known gravel runs and potholes on the farm.
Further bulk sampling of identified target areas will commence in due course.
Portion one of the farm has yielded positive results and confirmed the original
exploration results obtained by De Beers in 1988.
Centurion
1 February 2007
Sponsor
Sasfin Capital
(a division of Sasfin Bank Limited)
Corporate Advisor
Radagast Capital (Pty) Limited
Date: 01/02/2007 11:10:26 Produced by the JSE SENS Department.
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