UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule
13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of: June 2006
Commission File Number: 0-25672
MIRAMAR MINING CORPORATION |
(Translation of registrants name into English) |
#300 - 889 Harbourside Drive North Vancouver, British Columbia Canada V7P 3S1 |
(Address of principal executive offices) |
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F
Form 20-F | Form 40-F | X |
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes | No |
If Yes is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b) 82
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
MIRAMAR MINING CORPORATION (Registrant) |
By: /s/ A. David Long
A. David Long, Corporate Secretary |
Dated: June 21, 2006
MIRAMAR MINING CORPORATION Suite 300 889 Harbourside Drive, North Vancouver, B.C. V7P 3S1 Canada Tel: (604) 985-2572 Fax: (604) 980-0731 Toll Free: 1-800-663-8780 |
June 20, 2006 | NEWS RELEASE 06-10 | MAE - TSE MNG-AMEX |
Miramar Reports Further
Progress in Outlining Pit Possibility at Madrid
Significant drill
results at Madrid with intercepts of 3.2g/t Au over 164m and 9.1 g/t Au
over 38.3m
VANCOUVER Miramar Mining Corporation today announced more significant results from the 2006 drilling program at its Hope Bay Project in Nunavut. The program is focussed on the Madrid district, where drills were testing for newly defined mineralization that would enhance the possibility of a large pit concept at Madrid. The latest shallow Suluk infill drilling as well as drilling along the southern extension of Suluk has exceeded expectations.
Miramar embarked on the 2006 exploration campaign at Hope Bay with the objective of defining a second phase of production on the belt following the proposed Doris North Project which is now in the permitting process. The second phase options include two scenarios: a) a 350,000 ounce per year open pit/underground operation; and b) a large pit concept.
Based on previous modeling of the deposits, preliminary open pit designs in the Madrid area (which includes the Naartok, Rand and Suluk deposits) illustrated the potential for two or more small shallow pits to exploit the Madrid resource. Modelling completed at the end of 2005 indicated the potential for much larger scale open pit operations. Therefore, in an effort to maximize the economics of any potential open pit, 2006 drilling was planned and is ongoing with the objective of determining the continuity of mineralization between these deposits (the gaps), as well as indicating the previously identified mineralization extends to depth. This will determine the optimal through put for any contemplated mill.
The winter program focused on completing drilling off the lake which primarily tested the Suluk targets. Drilling to date has returned significant results which infilled and expanded the previously modeled mineralization at Suluk. Some of the more significant results include 06PMD428 which returned 28.0 m grading 11.28 g/t gold and 06PMD427 intersected a broad mineralized interval of 3.2 g/t Au over 164m including two intervals of 51.2 m grading 3.3 g/t gold and 52.5m grading over 4.6 g/t gold. Extending mineralization to depth at Suluk and finding mineralization in the gaps at Madrid could possibly support a deeper wider pit, which could increase tonnage and potentially lower costs enhancing the economics of any contemplated large pit concept.
This years primary focus is now to determine the size of the possible second phase of production at Hope Bay, said Tony Walsh, Miramars President and CEO. With the work done and the results received to date, it is evident that at Madrid, the work needs to now focus on size. With a view to determining the optimal mining and milling capacity, drilling will be completed in the 2006 program to determine tonnage potential. Miramar intends to complete studies by the end of 2006 to outline various capacities of potential production anchored at Madrid from which to choose the best option.
2006 Madrid Program
The goals of the campaign are to:
| seek to expand existing resources to enhance project economics |
| upgrade resources by infill drilling |
| aggressively seek to extend the Madrid system |
| complete initial drilling to determine the potential size of a Large Pit Scenario |
A program of ice based infill and expansion drilling around the key Madrid zones has been underway since mid-March to meet these objectives. A total of 26,500 metres in 83 holes has been completed to date with results available a further 22 holes. The first 32 Madrid holes were reported on Miramar news release dated May 25, 2006, which can be found on the company website at www.miramarmining.com. Results for the new holes are presented below.
Suluk and South Suluk
A project of infill drilling the
upper 250m of the Suluk resource targeting the upper 100 meters and strike extensions to
the north and south has been completed. Drilling has successfully identified the Suluk
mineralization extends northwards towards the Rand and Naartok deposits indicating
continuity of the mineralizing system between the resource areas. Additionally drilling
has also extended the Suluk mineralization southwards with all holes returning results
equivalent to or better than grades and thicknesses expected based on data from
surrounding holes. Examples include 06PMD428 in the shallow northern portion of the
deposit returning 9.1g/t Au over 38.3m and 06PMD427 at the south end of the resource area
intersected a broad mineralized interval of 3.2 g/t Au over 164.2m including two intervals
of 3.3 g/t Au over 51.2 m and 6.0 g/t Au over 52.5m.
Suluk & South Suluk highlights
HoleID | Area | From (m) | To (m) | Length (m) | Au (g/t) | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
PMD418 | Suluk | 20 | .7 | 25 | .2 | 4 | .5 | 8 | .7 | ||
and | 168 | .5 | 169 | .0 | 0 | .5 | 371 | .0 | |||
PMD420 | Suluk | 72 | .0 | 87 | .1 | 15 | .1 | 6 | .1 | ||
PMD421 | Suluk | 61 | .7 | 68 | .6 | 6 | .9 | 16 | .0 | ||
PMD427 | Suluk | 138 | .2 | 302 | .5 | 164 | .2 | 3 | .2 | ||
including | 158 | .5 | 210 | .6 | 52 | .1 | 3 | .3 | |||
including | 250 | .0 | 302 | .6 | 52 | .5 | 6 | .0 | |||
PMD428 | Suluk | 50 | .5 | 88 | .8 | 38 | .3 | 9 | .1 | ||
including | 50 | .5 | 71 | .1 | 20 | .6 | 12 | .8 | |||
PMD429 | Suluk | 250 | .9 | 264 | .5 | 13 | .6 | 4 | .7 | ||
PSD 115 | South of Suluk | 107 | .8 | 110 | .2 | 2 | .4 | 15 | .4 | ||
PSD117 | South of Suluk | 129 | .4 | 129 | .7 | 0 | .3 | 196 | .5 |
Rand Gap Areas
Drilling at Rand infilled between
wide spaced holes targeting higher grade zones, and extended mineralization on strike and
down dip into gap areas between Naartok, Rand and Suluk. This drilling has demonstrated
that the mineralizing system with low to moderate values has continuity between our
resource areas and in the process has also intersected shallow zones of significant grades
and thicknesses.
Some significant results to date include 06PMD430 returning 2.9 g/t gold over 14.0m and 06PMD426 returning 3.6 g/t Au over 12.6m.
HoleID | Area | From (m) | To (m) | Length (m) | Au (g/t) | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
PMD419 | Rand Suluk Gap | 368 | .9 | 379 | .5 | 10 | .6 | 5 | .5 | ||
Including | 370 | .9 | 376 | .5 | 5 | .6 | 9 | .1 | |||
PMD 426 | Rand Suluk Gap | 207 | .9 | 220 | .5 | 12 | .6 | 3 | .6 |
Naartok Expansion and Infill
Drilling at Madrid has shifted to the
Naartok-Rand gap and Naartok East deposits. Initial drill targets are larger stepout holes
utilizing two to three core drills. The Naartok drilling will expand to five to seven
drills in mid July. Results from this drilling are pending.
The Boston B4 evaluation is ongoing with four holes completed to date. The B4 zone is a sparsely drilled vein system which is parallel to the main B2 and B3 zones that comprise the bulk of the Boston resource. This project is targeting higher grade intercepts from previous drilling is areas with greater than 200 metre drill spacing. Results from these initial holes are pending.
Miramar is a Canadian gold company that controls the Hope Bay project, the largest undeveloped gold project in Canada. The Hope Bay project extends over 1,000 sq. km. and encompasses one of the most prospective undeveloped greenstone belts in Canada. Miramar aims to become an intermediate gold producer through the integrated development of the Hope Bay belt. Any production at Hope Bay is subject to positive feasibility studies, permitting and regulatory approval, the availability of financing and other contingencies.
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by John Wakeford, P. Geo. Vice President, Exploration for Miramar Mining Corporation, and the Qualified Person for the Company as set out in NI 43-101. The analytical method for the gold analyses is gravimetric assay done by ALS Chemex Laboratories in North Vancouver with metallic screen assays for all samples assaying over 20 g/t gold. Check assays are completed by TSL in Saskatoon.
Assay intervals reported are drill core lengths. Geologic interpretation of drill results is underway. However, it is estimated that true widths would generally be at least 70-80% of reported core lengths.
Additional Information
Diagrams and tables detailing some of the matters described herein are attached to this news release. If you are missing these, please download this news release from Miramars website at http://www.miramarmining.com/, to which they are attached, or contact us at the numbers listed below. All other information previously released on the Hope Bay Project is also available on this website.
Statements relating to exploration work at the Hope Bay project and the expected costs and results of this work and statements regarding the planned program for 2006 , proposed feasibility studies and possible production strategies
are forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words expects, plans, anticipates, believes, intends, estimates, projects, aims, potential, goal, objective, prospective, and similar expressions, or that events or conditions will, would, may, can, could or should occur. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in gold prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Companys properties; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold reserves and resources; the possibility that required permits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; the possibility that the estimated recovery rates may not be achieved; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Miramars operations and other risks and uncertainties, including those described in the Miramars Annual Report on Form 40-F for the year ended December 31, 2005 and Reports on Form 6-K filed with the Securities and Exchange Commission.
Forward-looking statements are based on the beliefs, estimates and opinions of Miramars management on the date the statements are made. Miramar undertakes no obligation to update these forward-looking statements if managements beliefs, estimates or opinions, or other factors, should change.
This news release has been authorized by the undersigned on behalf of Miramar Mining Corporation.
For further information
contact:
Anthony P. Walsh
President & CEO, Miramar Mining Corporation
Tel: (604) 985-2572 Fax: (604) 980-0731 Toll Free: 1-800-663-8780 Email:
info@miramarmining.com
Hole-ID | Zone | From (m) | To (m) | Core Length (m) |
Gold Grade (g/t) | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
06PMD417 | Suluk | 331 | .3 | 331 | .9 | 0 | .6 | 90 | .6 | ||
And | 426 | .3 | 427 | .8 | 1 | .5 | 2 | .1 | |||
And | 433 | .4 | 439 | .4 | 6 | .0 | 5 | .3 | |||
Including | 434 | .9 | 436 | .4 | 1 | .5 | 12 | .3 | |||
And | 453 | .0 | 461 | .1 | 8 | .1 | 2 | .6 | |||
Including | 457 | .9 | 459 | .4 | 1 | .5 | 6 | .5 | |||
And | 472 | .6 | 473 | .7 | 0 | .9 | 2 | .9 | |||
And | 476 | .9 | 480 | .9 | 4 | .0 | 4 | .2 | |||
Including | 476 | .9 | 478 | .5 | 1 | .6 | 6 | .2 | |||
And | 520 | .2 | 521 | .2 | 1 | .0 | 4 | .2 | |||
And | 526 | .2 | 527 | .1 | 0 | .9 | 4 | .8 | |||
And | 561 | .5 | 563 | .1 | 1 | .6 | 3 | .3 | |||
Including | 562 | .4 | 563 | .1 | 0 | .7 | 5 | .3 | |||
06PMD418 | Suluk | 20 | .1 | 32 | .0 | 11 | .9 | 5 | .4 | ||
Including | 20 | .7 | 25 | .2 | 4 | .5 | 8 | .7 | |||
Including | 29 | .7 | 31 | .0 | 1 | .3 | 8 | .5 | |||
And | 35 | .7 | 42 | .8 | 7 | .1 | 4 | .8 | |||
Including | 37 | .0 | 38 | .2 | 1 | .2 | 12 | .3 | |||
And | 60 | .0 | 63 | .5 | 3 | .5 | 3 | .1 | |||
And | 86 | .7 | 97 | .0 | 10 | .3 | 2 | .8 | |||
Including | 86 | .7 | 90 | .0 | 3 | .3 | 5 | .8 | |||
And | 165 | .8 | 170 | .5 | 4 | .7 | 42 | .1 | |||
Including | 168 | .5 | 169 | .0 | 0 | .5 | 371 | .0 | |||
06PMD419 | Rand Suluk Gap | 46 | .0 | 47 | .5 | 1 | .5 | 3 | .1 | ||
And | 368 | .9 | 379 | .5 | 10 | .6 | 5 | .5 | |||
Including | 370 | .9 | 376 | .5 | 5 | .6 | 9 | .1 | |||
06PMD420 | Suluk | 25 | .0 | 27 | .1 | 2 | .1 | 2 | .5 | ||
And | 57 | .0 | 66 | .0 | 9 | .0 | 2 | .5 | |||
Including | 60 | .5 | 61 | .7 | 1 | .2 | 8 | .8 | |||
And | 72 | .0 | 87 | .1 | 15 | .1 | 6 | .1 | |||
Including | 72 | .0 | 75 | .2 | 3 | .2 | 20 | .8 | |||
Including | 86 | .1 | 87 | .1 | 1 | .0 | 5 | .6 | |||
Hole-ID | Zone | From (m) | To (m) | Core Length (m) |
Gold Grade (g/t) | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
420 And | 123 | .0 | 128 | .8 | 5 | .8 | 2 | .4 | |||
Including | 128 | .0 | 128 | .8 | 0 | .8 | 6 | .8 | |||
06PMD421 | Suluk | 40 | .3 | 51 | .6 | 11 | .3 | 1 | .8 | ||
And | 61 | .7 | 68 | .6 | 6 | .9 | 16 | .0 | |||
Including | 63 | .2 | 67 | .1 | 3 | .9 | 26 | .3 | |||
And | 71 | .6 | 76 | .1 | 4 | .5 | 5 | .7 | |||
Including | 73 | .9 | 74 | .6 | 0 | .7 | 22 | .7 | |||
And | 79 | .1 | 82 | .1 | 3 | .0 | 2 | .6 | |||
And | 104 | .5 | 107 | .1 | 2 | .6 | 2 | .7 | |||
Including | 104 | .5 | 105 | .3 | 0 | .8 | 6 | .6 | |||
06PMD422 | Suluk | 321 | .0 | 326 | .8 | 5 | .8 | 2 | .4 | ||
Including And | 322 | .0 | 322 | .3 | 0 | .3 | 5 | .3 | |||
Further | Assays | Pending | |||||||||
06PMD423 | Suluk | 78 | .3 | 79 | .0 | 0 | .7 | 2 | .9 | ||
06PMD424 | n/a | Abandoned | |||||||||
06PMD425 | Suluk Rand Gap | 333 | .8 | 335 | .3 | 1 | .5 | 2 | .0 | ||
06PMD426 | Suluk Rand Gap | 166 | .7 | 168 | .6 | 1 | .9 | 2 | .2 | ||
Including | 166 | .7 | 167 | .1 | 0 | .4 | 7 | .9 | |||
And | 207 | .9 | 220 | .5 | 12 | .6 | 3 | .6 | |||
Including | 209 | .4 | 210 | .6 | 1 | .2 | 5 | .9 | |||
Including | 215 | .1 | 218 | .1 | 3 | .0 | 7 | .7 | |||
06PMD427 | Suluk | 138 | .2 | 302 | .5 | 164 | .2 | 3 | .2 | ||
Including | 138 | .2 | 139 | .3 | 1 | .1 | 4 | .5 | |||
Including | 148 | .0 | 149 | .8 | 1 | .8 | 7 | .0 | |||
Including | 158 | .5 | 210 | .6 | 52 | .1 | 3 | .3 | |||
Including | 161 | .5 | 164 | .0 | 2 | .5 | 8 | .0 | |||
Including | 170 | .0 | 175 | .8 | 5 | .8 | 7 | .3 | |||
Including | 180 | .3 | 182 | .7 | 2 | .4 | 5 | .7 | |||
Hole-ID | Zone | From (m) | To (m) | Core Length (m) |
Gold Grade (g/t) | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
427 cont | |||||||||||
Including | 187 | .8 | 189 | .3 | 1 | .5 | 5 | .1 | |||
Including | 250 | .0 | 302 | .5 | 52 | .5 | 6 | .0 | |||
Including | 250 | .7 | 252 | .2 | 1 | .5 | 5 | .7 | |||
Including | 255 | .2 | 260 | .7 | 5 | .5 | 5 | .4 | |||
Including | 272 | .6 | 279 | .8 | 7 | .2 | 7 | .6 | |||
Including | 282 | .8 | 290 | .9 | 8 | .1 | 17 | .4 | |||
Including | 297 | .4 | 302 | .5 | 5 | .1 | 4 | .0 | |||
Including | 298 | .7 | 299 | .5 | 0 | .8 | 14 | .6 | |||
06PMD428 | Suluk | 50 | .5 | 88 | .8 | 38 | .3 | 9 | .1 | ||
Including | 50 | .5 | 71 | .1 | 20 | .6 | 12 | .8 | |||
Including | 73 | .5 | 77 | .2 | 3 | .7 | 13 | .5 | |||
Including | 73 | .5 | 75 | .0 | 1 | .5 | 29 | .2 | |||
Including | 85 | .1 | 88 | .8 | 3 | .7 | 8 | .5 | |||
Including | 85 | .1 | 88 | .0 | 2 | .9 | 10 | .1 | |||
And | 102 | .0 | 106 | .5 | 4 | .5 | 6 | .4 | |||
Including | 102 | .0 | 103 | .9 | 1 | .9 | 12 | .2 | |||
And | 166 | .7 | 168 | .2 | 1 | .5 | 4 | .2 | |||
And | 299 | .0 | 300 | .0 | 1 | .0 | 3 | .9 | |||
06PMD429 | Suluk | 98 | .0 | 99 | .5 | 1 | .5 | 53 | .1 | ||
And | 218 | .2 | 228 | .7 | 10 | .5 | 2 | .1 | |||
Including | 221 | .2 | 225 | .7 | 4 | .5 | 3 | .8 | |||
And | 234 | .7 | 237 | .4 | 2 | .8 | 6 | .2 | |||
And | 250 | .9 | 264 | .5 | 13 | .6 | 4 | .7 | |||
Including | 253 | .0 | 260 | .3 | 7 | .3 | 7 | .7 | |||
And | 297 | .2 | 298 | .7 | 1 | .5 | 6 | .6 | |||
And | 334 | .3 | 337 | .3 | 3 | .0 | 2 | .6 | |||
And | 346 | .9 | 348 | .0 | 1 | .1 | 3 | .0 | |||
06PSD115A | South Suluk | 107 | .8 | 110 | .2 | 2 | .4 | 15 | .4 | ||
Including | 107 | .8 | 109 | .3 | 1 | .5 | 23 | .0 | |||
Hole-ID | Zone | From (m) | To (m) | Core Length (m) |
Gold Grade (g/t) | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
115A cont | |||||||||||
And | 143 | .8 | 144 | .9 | 1 | .1 | 4 | .1 | |||
And | 382 | .6 | 383 | .7 | 1 | .1 | 2 | .3 | |||
And | 393 | .3 | 398 | .2 | 4 | .9 | 2 | .7 | |||
Including | 395 | .8 | 397 | .3 | 1 | .5 | 5 | .7 | |||
06PSD116 | South Suluk | 88 | .4 | 92 | .9 | 4 | .5 | 2 | .9 | ||
06PSD117 | South Suluk | 40 | .5 | 43 | .4 | 2 | .9 | 2 | .0 | ||
Including | 40 | .5 | 41 | .0 | 0 | .5 | 7 | .0 | |||
And | 47 | .8 | 48 | .2 | 0 | .4 | 3 | .4 | |||
And | 129 | .4 | 129 | .7 | 0 | .3 | 196 | .5 | |||
And | 143 | .5 | 147 | .0 | 3 | .5 | 2 | .3 | |||
Including | 146 | .0 | 147 | .0 | 1 | .0 | 5 | .9 | |||
06PSD119 | South Fence | No | Significant | Assays | |||||||
06PSD120 | South Fence | 230 | .6 | 233 | .0 | 2 | .4 | 5 | .5 | ||
Including | 230 | .6 | 232 | .0 | 1 | .4 | 8 | .3 | |||
And | 255 | .5 | 257 | .0 | 1 | .5 | 3 | .9 | |||
06PSD121 | South fence | 00 | .0 | 00 | .0 | 00 | .0 | 00 | .0 | ||
06PSD122 | South Fence | No | Significant | Assays | |||||||
06PSD123 | South Suluk | 380 | .0 | 380 | .9 | 0 | .9 | 13 | .1 | ||
449 | .0 | 449 | .3 | 0 | .3 | 4 | .3 | ||||
And | 452 | .5 | 458 | .2 | 5 | .7 | 1 | .5 | |||
And | 452 | .5 | 452 | .9 | 0 | .4 | 8 | .1 | |||
06PSD124 | South Suluk | No | Significant | Assays | |||||||
06PSD125 | 197 | .0 | 199 | .4 | 2 | .4 | 2 | .3 | |||