Miramar Resources Ltd’s (ASX:M2R) assay results from its 1-metre re-splits have returned high-grade gold of up to 2 metres at 7.7 g/t, including 1-metre at 13.58 g/t, at the newly-defined Marylebone target at its 80%-owned Gidji joint venture project north of Kalgoorlie.
This is the best result of any recent or historical drill hole within the granted project tenements to date.
Final preparations are underway for the phase 2 aircore program, which is expected to commence at the end of this month.
Justifies company’s excitement
Miramar executive chairman Allan Kelly said the new results justified the company’s excitement about the project and, in particular, about the newly identified Marylebone target.
“It’s still early days, but Marylebone looks similar in terms of geology, structure and scale to the 10 million ounces Paddington deposit.
“Paddington is located only 10 kilometres along strike to the northwest and within the same regional structure, the Boorara Shear Zone."
Phase 2 aircore drilling
The phase 2 aircore program will total about 10,000 metres, with holes drilled on a nominal spacing of 200 metres x 50 metres.
This second phase program aims to refine the targets identified by the phase 1 program and to provide targets for follow-up reverse circulation (RC) drill testing of basement targets.
The program is expected to take about four weeks to complete.
Railway target
In addition to the Marylebone target, the recent re-split assays have confirmed and upgraded results from the Railway target, on the west side of the Goldfields Highway with 1-metre at 2.09 g/t from 54 metres and 1-metre at 0.73 g/t from 61 metres.
The Railway target remains open to the west, as far as the project boundary, and potentially along strike.
Diamond drilling for 8-Mile
Further investigation of historical drilling data within the project has revealed that the two diamond holes previously drilled by KCGM in 2013 were apparently not assayed through the hanging wall sequence above and to the west of the Runway porphyry unit.
The two diamond holes collared about 25 metres south of the project boundary intersected several mineralised quartz veins in the equivalent hanging wall position, some of which returned high-grade gold results including:
➢ EMD0028
- 1.3 metres at 5.85 g/t;
- 3.98 metres at 5.96 g/t, including 0.44 metres at 48.6 g/t; and
- 0.75 metres at 17.45 g/t.
➢ EMD0029
- 1-metre at 2.86 g/t;
- 1.34 metres at 2.27 g/t; and
- 1-metre at 2.27g/t.
The Runway porphyry unit intersected in these two holes was effectively unmineralised.
Increased prospectivity at 8-Mile
Miramar’s Kelly said the lack of sampling in the hanging wall had the potential to significantly increase the prospectivity of the 8-Mile target.
“This means that the prospective hanging wall position has apparently not been properly tested for at least 400 metres of strike despite the presence of several quartz veins in the equivalent position within holes EMD0031 and EMD0032.
“It also suggests that the regolith gold (+/- pathfinder) anomalism detected in the recent aircore holes on the two aircore lines drilled closest to the southern project boundary may be related to the untested hanging wall position instead of the porphyry unit.
Miramar does not currently have access to the core from these holes and has therefore committed to completing 1-2 diamond holes targeting both the hanging wall position and the Runway porphyry as a matter of priority.
The company has secured a suitable drill rig and drilling will commence by the end of this month.