Miramar’s Randalls gold project ripe for discovery
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Allan Kelly-led explorer Miramar Resources has been granted ground containing the ‘Randalls’ project, adjacent to Silver Lake Resources’ 1.5Moz Mt Belches gold operations in the Eastern Goldfields of WA.
Purchased as part of the Miramar (ASX:M2R) IPO in October 2020, Randalls covers extensions to the mineral-rich Banded Iron Formation (BIF) that hosts the high-grade Maxwell’s, Cockeyed Bob, Rumbles and Santa gold deposits operated by Silver Lake Resources.
Several high-grade results have also been returned from rock chip sampling of BIF at the Pryde and Logan prospects along strike, which were recently acquired by Horizon Minerals.
Despite the proximity to these deposits, the BIF has been relatively poorly explored within Miramar’s tenement, especially the fold hinges which are generally considered prime targets for BIF-hosted gold mineralisation.
Historical exploration comprised a limited series of shallow drill holes which did not test the obvious fold hinge positions — generally considered prime targets for BIF-hosted gold mineralisation — within the northern half of the tenement.
Gold assays are not reported in open file reports for a number of these holes.
Furthermore, surface sampling is likely to have been ineffective across a significant portion of the tenement “due to the presence of a north-south trending drainage system and associated sheetwash material”.
Miramar has kicked off planning for initial work at Randalls, which will include compilation of all relevant historic drilling and geochemical data followed by aircore and/or RC drill testing of key targets.
Miramar’s initial focus will be on drill testing the obvious fold-hinge targets with aircore and/or RC drilling.
Miramar exec chairman Allan Kelly says the company was excited to be able to commence exploration on the third of its highly prospective Eastern Goldfields projects.
“Our strategy in the Eastern Goldfields was to acquire under-explored gold projects within close proximity to existing mining and/or processing facilities,” Kelly says.
“Randalls definitely fits the bill, with a lack of any systematic exploration of a mineralised BIF along strike from multiple existing high-grade gold operations and with a haul road crossing the project.”
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.