Miramar has dived straight into drilling follow-up RC and diamond drilling at Marylebone East after recent activity indicated that it is closing in on the source of gold mineralisation.

Two reverse circulation holes drilled to test below consecutive aircore holes that returned high-grade gold hits intersected intriguing altered and sulphidised dolerite with XRF analysis of hole GJRC024 indicating pervasive alteration from 147m downhole.

Both holes also repeated supergene gold anomalism observed by Miramar Resources (ASX:M2R) in aircore holes at the interface between the paleochannel sediments and the weathered basement.

This was highlighted by GJRC024 returning an intercept of 1m at 1.17 grams per tonne (g/t) gold at the lower contact between the dolerite and the ultramafic rocks.

Executive chairman Allan Kelly says the presence of the mineralised dolerite, which fits the “Paddington lookalike” model, and the amount of alteration, quartz veining and sulphides was indicative of a significant hydrothermal system capable of forming a large primary gold deposit.

“GJRC024 is the most exciting RC hole we have drilled at Gidji to date, and indicates we are getting closer to locating a source of the gold mineralisation seen in our aircore drilling,” he adds.

“We believe we have all the key ingredients present for a significant gold deposit at Gidji and now, for the first time, we have evidence of both the targeted dolerite host rock, seen at Paddington and Panglo, and primary gold mineralisation in an RC drill hole beneath our high-grade aircore results.

“The Marylebone East aircore gold anomaly is over 500m long, so we believe there is the opportunity for a substantial bedrock gold discovery, given the large gold footprint.”

Miramar’s follow-up RC and diamond drilling will seek to gather more information about the geology, alteration and mineralisation of this high-priority target, as well as the orientation of any potentially mineralised structures.

More activity to come

The company also plans to start a substantial 200-hole aircore drilling campaign over the 4km long northern portion of the Boorara Shear Zone after receiving Program of Work and heritage approvals.

Boorara North appears to contain the same geology as Marylebone, and the Paddington deposit further north, but has only been sporadically drilled with wide-spaced shallow rotary air blast drilling.

It also has potential for komatiite-hosted nickel sulphide mineralisation and potentially also lateritic nickel mineralisation due to the extensive strike length of the “Highway Ultramafic”, which hosts nickel sulphide mineralisation at the historic Scotia nickel mine and the Saints nickel deposit being developed by Auroch Minerals.

Separately, the company has identified the Lake target for near-term drill testing.

Historical aircore drilling by Goldfields Exploration in 1995-1996 initially intersected anomalous gold results above a package of sandstone, carbonaceous shales and felsic and intermediate tuffs.

Subsequent RC drilling returned results of 2m at 5.32g/t gold from 69m and 3m at 3.6g/t gold from 101m but was not followed up on.

Miramar plans to carry out RC drilling along strike and down dip from these historical results.

 

 

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.

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