Miramar Resources Ltd (ASX:M2R) has identified another new target at its Gidji joint venture, 15 kilometres north of Kalgoorlie in the Eastern Goldfields region of Western Australia, reinforcing the potential for a significant new gold camp.
Re-examination of historical data, in particular historical auger data, has identified a 1-kilometre-long auger gold anomaly parallel to the Marylebone and newly outlined Blackfriars targets.
The main part of the newly identified 'Highway' target has not been tested by historical or recent drilling, however, two historic aircore holes at the western and northern edges of the target (PKAC527 and PKAC034 respectively) both intersected 4 metres at >0.5 g/t gold.
In addition, a number of aircore holes completed by Miramar Resources at the southern end of the target, testing the Piccadilly target, increase in grade in a northwesterly direction towards the main part of the auger anomaly.
New gold camp
Miramar executive chairman Allan Kelly said the identification of another new target at Gidji reinforced the potential for a significant new gold camp, with multiple new gold deposits, to be discovered.
“The Gidji JV Project is located in a prime geological position within a major mineralised structure and along strike from several large gold deposits,” Kelly said.
“Outcrop is minimal with the most prospective geology and structures obscured by transported material and the northern 50% of the project also covered by recent lake sediments.
“Over the last 12 months, we have shown how underexplored this project is with significant new results coming from every drill program and the identification of several new targets beneath shallow cover, each capable of hosting a significant new gold deposit.
“The identification of a large new target straddling a major highway is further evidence of how underexplored the Gidji Project is and the significant opportunity we are uncovering.”
Upcoming work
Miramar Resources is awaiting results from the Phase 5 aircore drilling program completed in late 2021 and is planning a substantial exploration program at Gidji during 2022.
This includes:
➢ Reverse circulation (RC) bedrock testing of the Marylebone target in the first quarter of 2022;
➢ Extending the detailed ground magnetic survey over the northern Boorara Shear Zone;
➢Aircore (+/- RC) drilling of various targets including Blackfriars (infill), Highway, Boorara North and Boorara South; and
➢ Refining 'The Jog' target for RC and/or diamond drill testing.