Miramar Resources Limited (ASX:M2R) has received multiple significant new results, including several high-grade gold assays, from aircore drilling at the company’s 80%-owned Gidji JV Project in the Eastern Goldfields of WA.
The new results come from resplits of aircore drill holes drilled in December 2021, mostly in and around the Marylebone West and Marylebone East targets.
Significant new high-grade gold results include:
Several high-grade gold results come from holes within the high priority “Marylebone East” target, where the company recently announced that RC drilling had intersected a highly altered and sulphidised dolerite, and where follow-up RC and diamond drilling is currently underway.
The most significant new result came from the far northern end of the Marylebone East target where GJAC562 intersected 5m @ 2.51g/t Au along with 5m @ 12.29g/t Ag (including 1m @ 28.91g/t Ag, 0.1% Cu, 45ppm Mo and 8.42% S).
The mineralisation intersected in GJAC562 remains open to the northwest and north for at least 200m. Follow-up aircore and/or RC drilling is planned following receipt of all relevant approvals. Executive Chairman, Allan Kelly, said the new results continued to reinforce the company’s belief that the Gidji JV Project has the potential to host multiple new gold deposits.
With each aircore drilling programme we complete at Gidji, we continue to receive multiple significant and/or high-grade gold results across several of our targets,” Mr Kelly said.
“Almost without exception, these results are now coming from weathered basement beneath transported material and are supported by pathfinders, with GJAC562 a good example of this,” he said. “So far, we have outlined multiple very large aircore gold footprints.
“Our next challenge is to cost effectively locate the primary source of these footprints with deeper RC and/or diamond drilling,” he added. The Company advises it is currently waiting on assays for approximately 100 aircore holes completed across the Blackfriars and Highway targets in April 2022.
“At least one of these holes, in the previously untested Highway target, intersected fresh sulphides and quartz veining in a porphyritic intrusive unit.
“Given the widespread presence and relatively consistent depth of supergene gold mineralisation at the top of the weathered basement, the company now considers that, in addition to the very significant potential for new primary gold deposits at Gidji, there could also be potential for one or more flat-lying supergene gold deposits, including a substantial amount of high-grade material.”