Miramar proves Glandore East continues at depth with fresh gold hit

Miramar Resources has confirmed bedrock mineralisation at its Glandore gold project continues at depth, hitting gold 180m below surface in a diamond drilling program.

While the 0.3m at 3.86g/t hit was narrow, the strike confirms the presence of primary mineralisation down dip of historic high grade gold intersections, providing a good launching pad for future exploration.

Miramar (ASX:M2R) has outlined multiple parallel north-east trending structures cross cutting the granodiorite/mafic contact, where the gold hit was made in a quartz vein.

Mineralisation now extends to 180m deep over a 240m strike length.

Scope for more testing

Importantly, Miramar says the multiple north-east trending structures at Glandore East have been poorly tested to date, especially in the mafic unit which is believed to be more prospective for gold than the granodiorite.

M2R executive chairman Allan Kelly says the bedrock gold mineralisation was found beneath a large supergene aircore gold footprint, with more drilling needed to unlock its full potential.

“Whilst narrow, the new bedrock gold intersections confirm the presence of primary mineralisation within the multiple northeast trending structures,” he said.

“Our aim now is to follow these structures to areas where the gold mineralisation might increase in volume and/or grade, potentially as a result of a change in rock type.

“The aircore gold footprint at Glandore East stretches for well over a kilometre, so there is plenty of room for this to happen beneath the shallow cover of the lake sediments.”

Future steps

M2R has plenty of work streams going on, with rare earth targets at its Dooley Downs tenement in the Bangemall Project in WA’s Gascoyne region, IOCG potential emerging at the Whaleshark project in the Pilbara and recent aircore testing revealing the nickel and PGE potential of its Gidji gold JV.

Previous drilling from the same diamond drill program at Glandore East uncovered high grade gold of up to 12.6g/t over 0.8m (and a narrower portion at 23g/t) 150m north of historic intercepts.

It is not a bad start for Miramar’s first diamond program at Glandore East, with assays still pending for the final hole, GDDD007.

Further drilling will be planned once all the results are received and interpreted, with M2R planning to complete a detailed ground and/or UAV magnetic survey in the March quarter to refine the position of the north-east trending structures which cross cut the granodiorite/mafic contact.

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.