Miramar Resources Ltd (ASX:M2R) has kickstarted a reverse circulation (RC) and aircore drilling campaign at the Gidji Gold Project Joint Venture (JV) in WA’s Eastern Goldfields.
The company will drill six RC holes for 1,000 metres across several areas of interest at Gidji, including the highly prospective Marylebone gold target.
In order to better refine its drill targets, Miramar has hired Core Geophysics to conduct a ground magnetic survey at Marylebone, which bears striking similarities to the 10-million-ounce Paddington gold deposit northwest of Gidji.
Coinciding with the RC campaign is a phase three aircore program, which aims to build on the company’s knowledge of Marylebone after two previous campaigns extended and upgraded the drill target.
Both programs should run their course in three weeks.
A map of the Marylebone target showing drilling results in relation to newly acquired ground magnetic data.
Building on strong results
Speaking at the start of both drilling campaigns, Miramar executive chairman Allan Kelly said Marylebone had seen no effective bedrock drill testing to date.
“We intersected high-grade gold in a quartz vein at Marylebone with our first aircore program and the second phase aircore drilling grew the target footprint and upgraded the results.
“The magnetic data we have collected appears to show magnetite destruction that may be a result of gold mineralisation, so we are very excited about testing this target at depth for the first time.”
Covering new ground
Miramar listed on the ASX in October 2020 following a heavily oversubscribed $8 million IPO.
As part of the float, the junior explorer picked up an 80% stake in the Gidji JV Project, adding the tenement to its extensive collection of gold exploration assets.
A map of Miramar's Eastern Goldfields exploration assets.
Overall, the project includes three granted tenements and 14 applications spanning 15 kilometres of strike.
While Miramar is still a relative newcomer to Gidji and the local share market, it has wasted no time conducting extensive exploration at the gold asset.
Outside of Gidji, the ASX-lister is exploring the Glandore and Randalls gold projects near Kalgoorlie, as well as the Lake Well, Lakeside and Garden Gully greenstone belt projects in the Murchison.
Up in the Gascoyne, Miramar’s Whaleshark and Bangemall projects are highly prospective for gold and nickel-copper-platinum group element mineralisation.