Miramar Resources Ltd (ASX:M2R) has been granted a trading halt by the ASX pending high-grade results from aircore drilling at its Marylebone Gold Project in WA.
The halt will remain in place until normal trading begins on Thursday, September 23, 2021, or once an announcement is released to the market.
M2R is a mineral exploration company with highly prospective projects in Western Australia. Its current portfolio of exploration projects in the Eastern Goldfields, Murchison and Gascoyne regions are said to have high potential for new gold discoveries.
Miramar is also seeking to discover nickel-copper-platinum group element (PGE) mineralisation within its explorative projects.
Results expected from Gidji strike
The trading halt announcement follows an extension of the total strike length at the Gidji Joint Venture Project in WA’s Eastern Goldfields.
Results are expected from explorative aircore drilling at previously identified under-explored targets in the Marylebone region.
Read: Miramar Resources increases Gidji JV strike length to 15 kilometres with new tenements
The Jog, Claypan and Lake target areas had all previously been identified as highly prospective opportunities prior to Miramar’s IPO in 2020. These areas have only been minimally explored through shallow, intermittent drilling.
Glandore Project anomaly
Explorative drilling had previously been concentrated at the Eastern Goldfields Glandore Project. A 600-metre gold anomaly returned results to up 2 metres at 4.78 g/t gold, south of Lake Yindarlgooda.
A northeast-trending zone, currently defined by results of >0.25 g/t gold, will require further exploration. Historic drilling intersected high-grade supergene and primary gold mineralisation with results up to 6 metres at 29.8 g/t, including 1-metre at 161 g/t.