Miramar Resources Ltd (ASX:M2R) has completed its first drilling program since listing on the ASX at the company’s 80%-owned Gidji JV gold project and all samples have been submitted for analysis.
The first pass aircore drilling program targeted an interpreted north-south trending structure which extends from the neighbouring Runway deposit (314,000 ounces of gold) for over 4 kilometres and contains several anomalous gold results in shallow historical drill holes.
Three aircore lines were also drilled over a second high-priority target west of the Goldfields Highway which has not been effectively tested along strike.
An historical aircore hole here ended in mineralisation and returned 9 metres at 1.25 g/t gold from 52 metres that had not been effectively tested along strike.
Following this maiden program, the company is now making preparations for aircore drilling next month at Lang Well project and for diamond drilling at the Gidji JV.
Aircore drilling program
The recent aircore drilling program comprised 96 holes, was completed on a nominal 400 x 100 metres spacing, and holes were drilled to ‘blade refusal’.
Most of the existing historical holes are angled, shallow and, in the case of the previous RAB holes, only had bottom of hole samples.
The recent aircore holes were drilled vertically, the entire hole was sampled and, in general, the new holes penetrated deeper than the previous drilling.
Drilling intersected mainly clastic sediments and felsic volcanoclastic rocks in the southern half of the program and mafic and ultramafic rocks in the northern half.
Quartz veins and/or sulphides were observed in several holes and the company expects first assay results early in the new year.
Planning for next drilling
The company is planning to complete pegging and clearing for the first aircore drilling program at its 100%-owned Lang Well project in January, with drilling scheduled to be completed during the quarter.
Also, the company has planned two diamond holes at Gidji, adjacent to the southern tenement boundary and directly along strike from the 314,000-ounce Runway deposit.
It is aiming to complete the Gidji drill holes in the March quarter, pending rig availability.
The Gidji JV Project is about 15 kilometres north of Kalgoorlie and consists of three granted tenements and 14 applications covering a strike length of approximately 12 kilometres.
Miramar purchased an 80% interest in the Gidji JV project tenements as part of the recent IPO.