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 executive chairman Allan Kelly said the new results continued to reinforce the significance of the Marylebone target and the potential for a large new gold discovery close to Kalgoorlie.
The company has been granted a trading halt by the ASX until Thursday, September 23, or when an announcement is released to the market.
The newly granted tenements contain several high-priority targets with exploration, including drilling, planned in the near term.
An aircore drilling program has kicked off on the lake at Glandore totalling 5,500 metres and is targeted for completion in three weeks.
“To obtain strong and coherent anomalies like these, similar to Havieron, gives us the confidence to progress to the next stage of exploration,” says executive chairman.
The company believes the Bangemall Project is prospective for craton-margin nickel-copper-PGE mineralisation, such as that discovered at Nova-Bollinger and Nebo-Babel.
Miramar considers its Marylebone prospect to be the largest and highest priority target at the Eastern Goldfields’ Gidjee Joint Venture Project, where it kicked off exploration in late 2020.
Miramar considers Marleybone the largest and highest priority target at the Eastern Goldfields’ Gidjee Joint Venture Project, where it kicked off exploration in late 2020.
Aircore drilling at the company’s newest exploration asset, the Gidji Gold Project Joint Venture in WA’s Eastern Goldfields, has produced strong new results.
The company will primarily focus on its Gidji JV and Glandore Project, however by taking shares as part of the sale process will retain upside exposure should Sipa have exploration success.
The company’s newest exploration asset is already showing promise, with the latest exploration program centred on one lucrative gold target.
Marylebone is the highest priority of the four targets outlined by Miramar because of the Phase-1 aircore drilling campaign completed in December 2020.
The company will complete analysis of 1-metre re-split samples for significant intervals while having started planning for the first bedrock drill testing of the Railway target.
Drilling has confirmed the presence of the Runway Porphyry 60 metres north of the nearest diamond hole and intersected visible gold in a quartz vein within the hanging wall sediments.
The company believes the Gidji JV Project contains numerous opportunities for discovery of an economic gold deposit within close proximity to existing mining and processing infrastructure.
Next phase of drilling at Gidji will involve aircore and diamond drilling to test the potential for an extension to the neighbouring 314,000-ounce Runway deposit.
Planning is underway for a gravity survey and initial drilling where previous drilling returned up to 8 metres at 22.5 g/t gold.
Miramar's portfolio of exploration projects has a high potential for new gold discoveries within trucking distance of existing operations.
This is the best result of any recent or historical drill hole within the granted project tenements to date. Final preparations are underway for a phase 2 aircore program expected to begin at the end of this month.
The company plans to conduct grid surface geochemical sampling using partial or selective leach analysis.
