Miramar Resources Limited (ASX:M2R) has identified the new “Highway” target with exploration activities at its 80% owned Gidji JV Project, located 15km north of Kalgoorlie in the Eastern Goldfields region of Western Australia.
Re-examination of historical data, in particular historical auger data, has identified a 1km long auger Au anomaly parallel to the Marylebone and newly outlined Blackfriars targets.
The main part of the newly identified “Highway” target has not been tested by historical or recent drilling however two historic aircore holes at the western and northern edges of the target (PKAC527 and PKAC034 respectively) both intersected 4m @ >0.5g/t Au.
In addition, a number of aircore holes completed by Miramar at the southern end of the target, testing the Piccadilly target, increase in grade in a north westerly direction towards the main part of the auger anomaly.
Executive Chairman, Allan Kelly, said the identification of another new target at Gidji reinforced the potential for a significant new gold camp, with multiple new gold deposits, to be discovered.
“The Gidji JV Project is located in a prime geological position within a major mineralised structure and along strike from several large gold deposits,” Mr Kelly said.
“Outcrop is minimal with the most prospective geology and structures obscured by transported material and the northern 50% of the Project also covered by recent lake sediments,” he added.
“Over the last 12 months, we have shown how underexplored this project is with significant new results coming from every drill programme and the identification of several new targets beneath shallow cover, each capable of hosting a significant new gold deposit.
“The identification of a large new target straddling a major highway is further evidence of how underexplored the Gidji Project is and the significant opportunity we are uncovering,” he said.
Upcoming Work
The company is currently awaiting results from the Phase 5 aircore drilling programme completed in late 2021 and is planning a substantial exploration programme at Gidji during 2022 including:
• RC bedrock testing of the Marylebone target in the first quarter of 2022
• Extending the detailed ground magnetic survey over the northern Boorara Shear Zone
• Aircore (+/- RC) drilling of various targets including: Blackfriars (infill) Highway, Boorara North and Boorara South
• Refining “The Jog” target for RC and/or diamond drill testing
For further information please visit: https://www.miramarresources.com.au/
