The company is planning to complete a more detailed ground or UAV magnetic survey in the first quarter of 2023 to help refine the position of northeast-trending structures and aid the targeting of further drill holes.

With the help of historical drilling results, Miramar’s (ASX:M2R) exploration at Glandore East (around 40km east of Kalgoorlie in Western Australia) has so far confirmed the presence of bedrock gold mineralisation related to multiple NE-trending structures.

These structures crosscut the granodiorite/mafic contact over a strike length of roughly 600m and to a vertical depth of approximately 180m.

Hole GDDD007 intersected narrow high-grade gold returning 0.4m at 18 g/t gold within a broader zone of low-grade gold (6m at 1.39 g/t gold).

GDDD007 was drilled roughly 75m to the north of GDDD004 which also intersected high-grade mineralisation after a 0.8m at 12.6g/t gold hit earlier this month, including 0.4m at 32g/t gold.

Four out of six hit supergene gold layer

“We are pleased with the results of the first program and encouraged by the last hole,” Miramar’s executive chairman Allan Kelly says.

“Four out of the six effective holes successfully intersect high-grade bedrock gold mineralisation beneath the supergene gold layer.

“In my experience, the competency contrast between the more brittle granodiorite intrusion and the more ductile and chemically reactive mafic units, complicated by the multiple northeast-trending structures, provides an ideal setting for gold mineralisation,” he said.

“The last hole is also encouraging, as it appears to contain more extensive alteration and a wider low-grade gold halo, so we are potentially moving in the right direction,” he added.

What’s up next?

While the multiple northeast trending structures remain poorly drill tested to date – especially where they enter eastern mafic units, Miramar plans to complete a more detailed ground or UAV magnetic survey in the first quarter of 2023.

This will help refine the position of the structures and aid in the targeting of further drill holes.




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.