Miramar gets a confidence boost from more gold results from Gidji JV

Miramar has reported more aircore drilling results from its 80% owned Gidji JV Project in Western Australia.

The company says the Marylebone, Railway, Piccadilly and 8-Mile targets reinforce the potential for one or more significant new gold discoveries at the project.

At Marylebone the new results have outlined a new zone of gold anomalism >0.25 g/t gold, west of the previous drilling – which is around 1km long with 6m at 1.23g/t gold in GJAC426 at its northern end.

Within the central target zone, new holes intersected high-grade gold including:

1m at 2.63g/t gold (GJAC428); and
5m at 1.21g/t gold (GJAC429).

Drilling at the Railway target intersected strongly anomalous gold along strike from the two best results And at the Piccadilly target – which is around halfway between the 8-Mile and Marylebone – two aircore holes intersected anomalous gold at the northern end of the target.

Confident of potential for a new gold discovery

“Marylebone continues to deliver significant aircore results from each program which increases our confidence that there could be a significant new gold discovery to be outlined,” Miramar Resources (ASX:M2R) executive chairman Allan Kelly said.

“After four aircore programs of relatively wide-spaced holes, we still have not yet determined the full extent of the Marylebone footprint, which is currently about 2km long, and still growing.

“In addition, even though our focus has been mostly on defining the extents of the Marylebone target, we have also continued to test other targets that add to the developing opportunity at Gidji.”

Next round of aircore drilling will refine targets

The Marylebone target is now apparently closed off at the southeastern end but remains open along strike to the northwest onto the recently granted tenement applications.

The company plans to extend the aircore drill coverage to the northwest, as well as conducting selected infill holes, and plans to complete this drilling by the end of 2021.

Miramar also plans further drilling at the Railway and Piccadilly targets.

The aim of the next aircore drilling campaign will be to refine targets for RC drill testing in early 2022.

This article was developed in collaboration with Miramar Resources Limited, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.