Coffee with Samso: project updates at Miramar Resources
Miramar's Gidji JV Project has the potential to host multiple new gold deposits in close proximity to existing mining and processing infrastructure.
Company
ASX:M2R
Miramar Resources Ltd (ASX:M2R) is a Western Australian-focused mineral exploration company actively exploring projects in the Eastern Goldfields, Murchison and Gascoyne regions and listed on the ASX in October 2020. Miramar’s Board has a track record of discovery, development and production within Australia, Africa and North America, and aims to create shareholder value through the discovery of high-quality mineral deposits.
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Miramar's Gidji JV Project has the potential to host multiple new gold deposits in close proximity to existing mining and processing infrastructure.
“This capital raising will allow for a step change in the pace of activity at Gidji, and we have multiple aircore, RC and diamond drill programs lined up ready to commence in the short term,” said executive chairman Allan Kelly.
The explorer is on the hunt for gold and/or rare earth element mineralisation and it plans to sample the project’s outcropping pegmatites and complete aircore drilling down the line.
The explorer believes it could have multiple, large gold deposits on its hands thanks to work across Gidji’s Marlyebone East, Blackfriars and Highway targets.
“The Gidji Project provides Miramar with a unique greenfields gold discovery opportunity right on the doorstep of the richest patch of ground on earth, and we, therefore, look forward to continuing to uncover the huge potential opportunity
A review of historic and government open file data has highlighted multiple pegmatite occurrences, including a swarm of outcropping pegmatites over at least 7 kilometres of strike.
“The new nickel sulphide targets we have identified again confirm how underexplored the Gidji Project is, not just for gold, but for other commodities as well," says executive chair Allan Kelly.
With the similarities between Marylebone and the Paddington deposit, the company remains confident about the opportunity for a new gold discovery at Gidji, including at Marylebone.
Miramar executive chairman Allan Kelly said there appeared to be a very substantial gold system under the lake at Glandore that had not previously been recognised.
“These results are exactly what we would have hoped to see from this survey, validate our views on the prospectivity of this project and give us numerous targets for follow-up work," says chair.
“This RC drill program will test the most prospective part of Marylebone for the first time,” executive chairman Allan Kelly said.
The new, more detailed EM survey will provide a project-scale dataset to work with for the first time and help the company focus on the most prospective parts of the project for further work.
Re-examination of historical data, in particular historical auger data, has identified a 1-kilometre-long auger gold anomaly parallel to the Marylebone and newly outlined Blackfriars targets.
The results include multiple 1-2 g/t gold resplits from Marylebone and the newly identified Blackfriars target where +1 g/t bedrock gold results are seen on multiple widely spaced sections over a strike length of at least 1 kilometres.
“We now have two large coherent surface geochemical anomalies at Whaleshark, with strongly coincident copper, uranium and rare earth elements overlying a Proterozoic granitoid intrusion,” says chairman.
“Our first-pass lake drilling has outlined coherent supergene gold anomalism within multiple targets over almost five kilometres of strike, which is a considerable proportion of the entire project area,” says executive chair.
As well as infilling existing drilling over the Marylebone target, the aircore program will test for potential extensions on recently granted tenements to the northwest.
Miramar's share price has recently surged after filing multiple high-grade gold drilling results from the Marylebone target within the Gidji JV Project (80% Miramar owned) in the Eastern Goldfields of Western Australia.
The explorer’s latest round of aircore drilling has uncovered new gold zones and increased confidence in future gold discoveries at the Eastern Goldfields exploration asset.
The mineral exploration company has already started mapping out its initial work program at the Randalls Project, which includes compiling historical data and an aircore and/or reverse circulation drilling campaign.