Miramar Resources Outlines 4km Mineralised Structure

THE DRILL SERGEANT: Miramar Resources (ASX: M2R) has completed the first round of aircore drilling at the company’s 80 per cent-owned Gidji JV project intersecting regolith gold anomalism within a structure over approximately four kilometres of strike.

Miramar Resources reported the drilling outlined regolith gold anomalism within a mineralised structure, intersected visible gold in a quartz vein and highlighted multiple targets including one it considers to hold apparent similarities to the 10 million ounces Paddington deposit.

The structure extends from the northern projection of the neighbouring 314,000 ounce Runway deposit to the regionally important Boorara Shear Zone where a series of shallow historical RC drill holes previously intersected gold mineralisation.

Results from the recent program include:

8m at 495ppb gold from 56m, including 4m at 925ppb gold from 56m;

2m at 779ppb gold from 68m to EOH;

8m at 351ppb gold from 48m to EOH;

8m at 194ppb gold from 52m; and

8m at 184ppb gold from 44m to EOH.

Miramar Resources aid the results confirmed the company’s view that the Gidji JV project was highly prospective but greatly underexplored.

“Our maiden aircore program, the first drilling at Gidji since 2013, has defined a mineralised structure over several kilometres and highlighted several new targets, including one with apparent similarities to the 10 million ounce Paddington deposit, located 10km further north within the same structure,” Miramar Resources executive chairman Allan Kelly said in the company’s ASX announcement.

“Despite its prime location, the previous drilling within the Gidji project has mostly been shallow with only a handful of RC drill holes across the entire project area.

“We effectively need to disregard much of the previous drilling and treat the project like a new greenfields exploration opportunity.

“In addition to the potential for a northern extension to the existing Runway deposit, we believe there are multiple drill targets that may present similar, if not better, opportunities for discovery of an economic deposit at Gidji.”

On the back of the results, Miramar will immediately follow up the recent aircore drilling at Gidji with a second campaign of approximately 10,000m which will infill the drill spacing to approximately 200m by 50m.




Email: info@miramarresources.com.au


Web: www.miramarresources.com.au