Miramar Resources Ltd (ASX:M2R) has confirmed the golden potential of its recent Highway discovery in WA’s Eastern Goldfields with a new round of material assays.
Highway forms part of the Gidji joint venture (JV) project, in which Miramar holds an 80% stake and is pursuing multiple gold targets.
Even though Highway is the newest of these precious metal prospects, results like 4 metres at 2.95 g/t gold from 48 metres, including 3 metres at 3.78 g/t, demonstrate its promise.
Other significant hits include:
- 5 metres at 0.87 g/t from 48 metres, including 1 metre at 1.87 g/t;
- 1 metre at 2.9 g/t from 52 metres;
- 8 metres at 0.77 g/t from 48 metres;
- 4 metres at 1.13 g/t; and
- 1 metre at 2.53 g/t from 51 metres.
All results from Miramar’s April 2022 aircore program have now been received.
Broader implications
Highway is the fourth aircore gold footprint Miramar has discovered at Gidji since it hit the ASX.
Promisingly, the fresh results point to a 1-kilometre gold target that remains open in all directions, giving Miramar a sizeable follow-up target.
Looking out, further aircore drilling is planned at the Blackfriars and Highway prospects to outline the full extents of the targets before deeper RC and/or diamond drill testing.
Miramar is also about to embark on a 12,000-metre aircore program at Boorara North, which has the potential for gold and/or nickel sulphide mineralisation.
Uncovering Gidji’s full potential
Miramar executive chairman Allan Kelly said new results from the Highway target emphasised the significant gold potential at Gidji, which Miramar hopes to realise through systematic exploration.
“Over the last 18 months, we have outlined four large new gold targets at Gidji, each at least 1 kilometre long, and with multiple bedrock aircore intersections including several high-grade gold results,” Kelly said.
“Despite straddling the Goldfields Highway and being located less than a 10-minute drive from Kalgoorlie, the Gidji Project has clearly not been effectively explored until now,” he added.
“With only a handful of deeper holes completed to date, and many more planned, we look forward to continuing to uncover the full potential of the Gidji JV Project.”