Miramar Resources Ltd (ASX:M2R) shares have surged after filing multiple high-grade gold drilling results from the Marylebone target within the Gidji JV Project (80% Miramar owned) in the Eastern Goldfields region of Western Australia.
The new results from 1-metre resplits of the phase 3 aircore drilling program confirmed the potential for Paddington and/or Panglo-style gold mineralisation at Marylebone.
Significant results include:
- GJAC306 – 1 metre at 6.92g/t gold (48-49 metres);
- GJAC315 – 3 metres at 2.61g/t (45-48 metres) including 1 metre at 6.16g/t;
- GJAC318 – 1 metre at 3.54g/t (53-54 metres);
- GJAC325 – 4 metres at 1.11g/t (46-50 metres) including 1 metre at 3.55g/t; and
- GJAC328 – 1 metre at 5.15g/t (52-53 metres).
Most significant gold numbers received to date
Miramar executive chairman Allan Kelly said the new results continued to reinforce the significance of the Marylebone target and the potential for a large new gold discovery close to Kalgoorlie.
He added: “The new results include the most significant gold numbers received from Gidji to date and have also helped us identify the structures with the closest similarities to the Paddington and Panglo gold deposits along strike to the northwest.
“Our aircore drilling is still relatively wide spaced, given the stripped weathering profile present beneath the transported material, and the average hole depth to date at Marylebone is only about 60m, whereas the primary mineralisation at Paddington reportedly starts at about 70m, just below the supergene enriched gold zone.”
Potential for Paddington/Panglo style gold mineralisation
The Marylebone target comprises two parallel zones of coherent supergene gold mineralisation along the contact between mafic and ultramafic rocks in similar stratigraphic positions to the 4-million-ounce Paddington deposit, the 125,000-ounce Panglo deposit and other gold deposits along the Boorara Shear Zone.
GJAC306 and GJAC315, which both intersected +6g/t gold, are about 300 metres apart along the ‘Paddington contact’, whilst the +3g/t gold intersections in GJAC318 and GJAC325 are 200 metres apart and appear equivalent to the position of the Panglo deposit (Figure 1).
Figure 1 - Marylebone target showing significant drilling results
The northwest-trending contacts are crosscut by later north-south trending faults, similar to Paddington.
The footprint of the Marylebone target now extends for over 1.9 kilometres and remains open to the northwest on the recently granted Gidji JV tenements.
Kelly added: “We are very excited about the opportunity for a new discovery at Marylebone and also look forward to testing the newly granted tenements along strike to the northwest, where the same geology seen at Marylebone continues for at least another 1.4km, but is virtually undrilled.”
Regional setting of the Marylebone target in relation to the Paddington and Panglo deposits.
Miramar is waiting on assay results from several ‘phase 4’ aircore holes testing the western and north-western boundaries of the Marylebone target.
Planning is also underway for further infill and deeper drilling at Marylebone and along strike to the northwest once permitted.
Glandore lake drilling completed
Miramar has successfully completed the first lake drilling campaign at the Glandore Project, located about 40 kilometres east of Kalgoorlie, with assays awaited.