THE DRILL SERGEANT: Miramar Resources (ASX: M2R) announced identification of a new ‘Highway’ target parallel to the Blackfriars and Marylebone targets at the company’s 80 per cent-owned Gidji JV project north of Kalgoorlie in the Eastern Goldfields region of Western Australia.
Miramar Resources carried out a re-examination of historical data, in particular historical auger data, that identified a one-kilometre long auger gold anomaly parallel to the Marylebone target and the newly outlined Blackfriars target.
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 greater than 0.5 grams per tonne gold.
In addition, several aircore holes completed by Miramar at the southern end of the target, testing the Piccadilly target, increase in grade in a north westerly direction towards the main part of the auger anomaly.
Miramar considers the identification of another new target at Gidji reinforces the potential for a substantial 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,” Miramar Resources executive chairman Allan Kelly said in the company’s ASX announcement.
“Outcrop is minimal with the most prospective geology and structures obscured by transported material and the northern 50 per cent 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.”
Miramar is currently awaiting results from a Phase 5 aircore drilling program completed in late 2021 and is planning a substantial exploration program at Gidji during 2022.
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