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Miramar Resources (ASX:M2R) - Executive Chairman, Allan Kelly
Executive Chairman, Allan Kelly
Source: Business News
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  • Miramar Resources (M2R) receives a number of new results from aircore drilling at the Gidji joint venture project in Western Australia
  • Drilling was undertaken across the Marylebone, Piccadilly, Railway and 8-Mile targets and all intersected high-grade gold
  • Results have peaked at 5.21g/t gold and all have upgraded the prospectivity of the project
  • Miramar is now waiting on results from phase three aircore and reverse circulation drilling recently completed
  • Miramar has ended the day 9.72 per cent in the green with shares trading at 19.8 cents

Miramar Resources (M2R) has received a number of new results from aircore drilling at the Gidji joint venture project.

The Gidji Project lies around 15 kilometres north of Kalgoorlie-Boulder in the eastern Goldfields region of Western Australia.

It consists of three granted tenements and 14 applications that span a 12-kilometre strike.

Drilling was undertaken across the Marylebone, Piccadilly, Railway and 8-Mile targets and all intersected high-grade gold.

Best results include three metres at 1.94 grams of gold per tonne (g/t) from 44 to 47 metres including one metre at 5.21g/t gold; and three metres at 1.22g/t gold from 54 to 57 metres including one metre at 2.82g/t gold.

Pleasingly, all of the results have upgraded the prospectivity of the Gidji Project.

“After two phases of relatively wide-spaced aircore drilling across the granted tenements, all four targets have developed into coherent gold anomalies with associated pathfinder anomalism indicating a potential relationship to primary mineralisation,” Executive Chairman Allan Kelly commented.

“Notably, most significant gold results to date have come from sample intervals at depths of greater than 50 metres vertically below surface, whilst the average depth of historic drilling across the Gidji Project is only about 40 metres.”

Miramar is now waiting on results from phase three aircore and reverse circulation drilling recently completed.

Miramar has ended the day 9.72 per cent in the green with shares trading at 19.8 cents in a $9.91 million market cap.

M2R by the numbers
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