Miramar is confident that its Gidji joint venture project has the potential to host multiple, large gold deposits after receiving further significant drill results.

The final assays from the December 2021 aircore drill program included results such as 4m grading 1.54 grams per tonne (g/t) gold in GJAC619 at the far northern end of the Marylebone East target.

Marylebone East remains open to the northwest of this hole for at least another 500m for a total strike length of about 2.5km.

Adding interest, Miramar Resources (ASX:M2R) notes aircore drilling at the Blackfriars target has identified an intermediate porphyritic unit between the Black Flag Beds, to the west, and the porphyritic basalt unit to the east, fulfilling one of its objectives of finding rocks that can act as a focus for gold mineralisation.

This newly recognised porphyry unit has been observed in two drill sections to date and may be equivalent to the porphyry that hosts most of the gold mineralisation at the 1.6Moz Aphrodite gold deposit, which is also located at the contact between Black Flag sediments and a basalt unit.

Executive chairman Allan Kelly said the results – and geological observations from current aircore drilling – highlighted the potential of the Gidji JV project.

“At Gidji, we now have analogues for not one, but two plus million-ounce gold deposits,” he explained.

“The Blackfriars target seems to have the same geology and scale as the 1.6Moz Aphrodite deposit but, to date, we have only tested it with very wide-spaced aircore drilling.

“Given the size and tenor of the untested historical auger gold-arsenic anomalism at Highway, we are hoping we might have a trifecta at Gidji.”

The December 2021 aircore program had also returned strong hits such as 1m at 11.8g/t gold and 1m at 11g/t gold on the eastern Marylebone trend between two earlier 200m-spaced lines.

Current aircore drilling is infilling the Blackfriars footprint and testing the Highway target for the first time while a detailed UAV magnetic survey has been commissioned for the Boorara North target.




This article was developed in collaboration with Miramar Resources, 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.