- Miramar Resources (M2R) intersects further gold mineralisation at its Gidji joint venture project in the Eastern Goldfields region of Western Australia
- Results come from the Marylebone target and grades range between 1 grams per tonne (g/t) gold to 2g/t gold and lie within weathered basement rock
- Results also come from the newly identified Blackfriars targets and lie on wide-spaced sections over a strike length of at least one kilometre
- Miramar has secured a reverse circulation rig to drill Marylebone in Q1 2022
- The company ends the day 9.76 per cent in the red with shares trading at 18.5 cents
Miramar Resources (M2R) has intersected further gold mineralisation at its Gidji joint venture project in the Eastern Goldfields region of Western Australia.
Results come from the Marylebone target and newly identified Blackfriars target.
Grades from Marylebone range between one to two grams of gold per tonne (g/t) and all results lie within weathered basement and outline multiple northwest-trending bedrock targets which will be tested with reverse circulation drilling.
Results from Blackfriars lie on wide-spaced sections over a strike length of at least one kilometre which remains open to the northwest.
Executive Chairman Allan Kelly said these results indicated the potential for a significant new gold camp to be identified at Gidji.
“One of the key defining features of a gold camp is the presence of gold mineralisation in multiple deposits and associated with more than one rock type,” Mr Kelly commented.
“At Marylebone, we are seeing coherent supergene gold mineralisation associated with mafic and ultramafic rocks within the Boorara Shear Zone, similar to Paddington.”
“As a result of our systematic aircore drilling at Gidji, we have also outlined a large target at Blackfriars, this time associated with sediments and felsic volcanic rocks of the Black Flag Beds.”
Miramar has secured a reverse circulation rig which it will use to drill Marylebone in Q1 2022.
Additionally, the company plans to undertake first pass aircore drilling over the underexplored portion of the Boorara Shear Zone.
Miramar has ended the day 9.76 per cent in the red with shares trading at 18.5 cents in an $11.54 million market cap.