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Miramar Resources outlines regolith gold anomalism over four kilometres within mineralised structure at Gidji JV Project

Published: 00:59 01 Feb 2021 GMT

Miramar Resources Ltd - Miramar Resources outlines regolith gold anomalism over four kilometres within mineralised structure at Gidji JV Project
Coarse gold particle panned from 57-58 metres in the Project.

Miramar Resources Limited (ASX:M2R) has outlined regolith gold anomalism over four kilometres within a mineralised structure during recently concluded aircore drilling at the company’s 80% owned Gidji JV Project in Western Australia.

The company intersected visible gold in a quartz vein and highlighted multiple targets including one with apparent similarities to the 10 million ounces Paddington deposit.

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’.

Significant results from the recent program include:

  • 8 metres at 495 parts per billion (ppb) gold from 56 metres, including 4 metres at 925 parts per billion from 56 metres;
  • 8 metres at  194ppb from 52 metres;
  • 8 metres at 184ppb from 44 metres; and
  • 4 metres at 177ppb from 40 metres and 4 metres at 190ppb from 56 metres.

“Highly prospective but significantly underexplored”

Miramar’s executive chairman Allan Kelly said the results confirmed the Company’s view that the Gidji JV project was highly prospective but significantly underexplored.

He said: “Our maiden aircore programme, the first drilling at Gidji since 2013, has defined a mineralised structure over several kilometres and highlighted several new targets, including one with apparent similarities to the 10 million ounces Paddington deposit, located 10 kilometres further north within the same structure.

“Despite its prime location, the previous drilling within the Gidji Project has mostly been shallow with only a handful of RC drill holes across the entire project area.

“We effectively need to disregard much of the previous drilling and treat the project like a new greenfields exploration opportunity.

“In addition to the potential for a northern extension to the existing Runway deposit, we believe there are multiple drill targets that may present similar, if not better, opportunities for the discovery of an economic deposit at Gidji.”

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 the 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.

Two new targets highlighted within N-S structure

The recent aircore drilling has highlighted a mineralised N-S trending structure and two new targets where this structure intersects NW trending geology and/or regional structures.

At the northern end, the N-S structure crosscuts a northwest-trending sequence of sediments, mafic and ultramafic rocks within the Boorara Shear.

A series of shallow RC holes drilled on one line by previous explorers had intersected shallow west-dipping supergene and/or primary gold mineralisation however most of the surrounding holes were shallow and/or ineffective.

Preparation for follow-up drilling underway

Given the very encouraging results from the first campaign, the company has decided to immediately follow up the recent aircore drilling at Gidji with a second campaign of approximately 10,000 metres which will infill the drill spacing to approximately 200 metres x 50 metres.

Resampling of significant 4-metre composite samples from the first phase programme has already been undertaken with the 1-metre “re-split” samples recently submitted for priority analysis.

Pegging of the proposed phase 2 drill lines has been completed and clearing will be undertaken in coming weeks.

The company has completed site preparations for 1-2 initial diamond holes at the ‘Eight Mile’ target testing the potential for a northern extension to the Runway deposit and is currently sourcing a suitable rig.

Tenements grant pending

Kelly said that about half of the Gidji JV project tenements were still to be granted.

He said: “The applications pending grant include a significant additional strike length of the Boorara Shear and the highly prospective ‘dilational jog’ target.

“The company looks forward to having the remaining tenements granted as soon as possible so we can systematically explore this highly prospective land package.”

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