Miramar pivots Lang Well exploration back towards gold
Miramar remains committed to gold exploration at its wholly-owned Lang Well project in Western Australia’s Murchison region with aircore drilling expected later this year.
This is due to recent rock chip sampling of outcropping pegmatites failing to return significant lithium or rare earth element results.
Miramar Resources (ASX:M2R) executive chairman Allan Kelly said that while the results from the pegmatite samples were disappointing, the project remained prospective for gold mineralisation given its location between the Deflector and Rothsay deposits.
Lang Well consists of a single granted exploration licence covering a large, complexly folded greenstone belt where limited reconnaissance rock chip sampling carried out in 1989 in the north returned anomalous gold results.
Historical auger drilling in 2009 has also identified several large gold anomalies in the project’s southwest.
Miramar is also turning its attention back to its other assets where a strong focus has remained on the highly prospective Gidji JV gold project near Kalgoorlie.
“We will now continue to focus on our more prospective projects, including the Gidji JV Project in the Eastern Goldfields,” Kelly added.
“We are also preparing to mobilise field crews to our northern WA projects over the next few months, including Whaleshark and Mt Vernon, where we look forward to testing the potential for IOCG (Iron oxide copper gold) and Ni-Cu-PGE (nickel-copper-platinum group element) mineralisation respectively.”
The company is currently waiting on assay results from Gidji including RC drilling at Marylebone East, aircore drilling at the Blackfriars and Highway targets, and soil sampling over The Jog target.
It is also completing a follow-up induced polarisation survey over the 8-Mile 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.