Miramar spots fresh tracks for Kalgoorlie gold quarry

Miramar Resources adds more gold targets to explore east of Kalgoorlie
Targets recommended for follow up which did not occur in lesser gold markets
Drilling to soon begin on walk-up gold targets at M2R’s nearby Gidji JV

Special Report: Miramar Resources has found several new high-priority gold targets on recently submitted tenements at the fully owned Randalls project east of Kalgoorlie.

Miramar Resources (ASX:M2R) submitted the applications earlier this month and compilation of historical data has found at least three high-priority targets along the underexplored regional Randalls Fault structure.

First off the rank is likely to be the Lone Pine Dam target, where results to the tune of 4m at 6.07g/t gold from 4m remain open along strike for several hundreds of metres.

While CRA exploration thought results from 200m drill spacing was enough to discount the presence of a monster, there was still enough scent of smaller or unorthodox deposits to recommend follow up.

The Venetian and Campese targets likewise had gold anomalism defined over significant stretches of strike but similarly had recommended follow ups which never occurred.

Miramar executive chairman Allan Kelly said the new applications remained underexplored despite a location by abundant mining and processing operations.

“There are multiple large walk-up drill targets, with noteworthy historical drill intersections, any of which could lead to the discovery of a significant new gold deposit,” he said.

Project map showing new targets and historic drill results. Pic: M2R

Walk up gold

While it would have been an understandable decision to divest gold tenements through the heights of the battery boom, Miramar saw some future benefit in playing the dragon and sitting on its gold portfolio until investor interest turned.

It allows the company to now walk up and drill surrounded by major deposits and into record gold prices.

And drill they shall, with a campaign set to soon begin over largely untouched gold targets showing shallow high-grade results requiring infill/extensional drilling before M2R gets into systematic bedrock testing at its nearby Gidji JV.

Miramar is not ignoring its other assets though and has applied for Exploration Incentive Scheme co-funding for a detailed survey over its Bangemall Cu-Ni-Co-PGE projects, where it’s looking for a potential partner in a new province showing similarities to Russia’s giant Norilsk deposits.