Miramar Resources Ltd (ASX:M2R) has received new aircore drilling results from the Gidji Gold Project Joint Venture (JV) that have upgraded the prospects for gold at all four targets.
All four targets - Marylebone, Piccadilly, Railway and 8-Mile - now contain multiple aircore holes with results over one gram per tonne of gold.
At Marylebone, three consecutive aircore holes on one drill section have now returned results in excess of 1.5 g/t, including in one hole 2 metres at 7.7 g/t, which included 1-metre at 13.57 g/t, while at Piccadilly, one hole returned a thick zone of supergene gold and arsenic anomalism.
Drill highlights
Strong results include:
Marylebone:
- 3 metres at 0.84 g/t from 55 metres;
- 1-metre at 2.33 g/t from 56 metres;
- 1-metre at 1.56 g/t from 55 metres; and
- 1-metre at 1.57 g/t from 48 metres at a potential new target south of Marylebone.
Piccadilly:
- 1-metre at 0.90 g/t from 39 metres and 1-metre at 1.96 g/t from 46 metres.
Railway:
- 3 metres at 1.94 g/t from 44 metres, including 1-metre at 5.21 g/t.
8-Mile:
- 1-metre at 1.17 g/t from 46 metres,
- 3 metres at 1.22 g/t from 54 metres, including 1-metre at 2.82 g/t; and
- 1-metre at 1.78 g/t from 49 metres.
Reinforce prospectivity
Miramar executive chairman Allan Kelly said the results reinforced the prospectivity of the project.
“After two phases of relatively wide-spaced aircore drilling across the granted tenements, all four targets have developed into coherent gold anomalies with associated pathfinder anomalism indicating a potential relationship to primary mineralisation,” he said.
“Notably, most significant gold results to date have come from sample intervals at depths of greater than 50 metres vertically below surface, whilst the average depth of historic drilling across the Gidji Project is only about 40 metres.”
Next steps
The next stage in exploration at Gidji will involve systematic deeper drill testing of the targets with the aim of outlining bedrock gold mineralisation.
Miramar is currently waiting on assay results from the RC and phase 3 aircore programs recently completed at Gidji.
The company 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.
Overall, the project includes three granted tenements and 14 applications spanning 15 kilometres of strike.
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 (PGE) mineralisation.
- Daniel Paproth