Miramar is setting the stage for an exploration push in 2022 after identifying a potential new gold camp at its 80% owned Gidji project in WA’s Eastern Goldfields region.
This follows the receipt of multiple +1 gram per tonne (g/t) gold hits from aircore drilling at the priority Marylebone target and the newly identified Blackfriars target.
Notably for Miramar Resources (ASX:M2R), the bedrock gold results at Blackfriars are seen on widely-spaced sections over a strike length of at least 1km while the Marylebone results are also from the weathered basement rather than overlying transported material.
Together, these outline multiple northwest trending bedrock targets M2R will test with reverse circulation drilling in 2022. Executive chairman Allan Kelly reckons there’s outstanding potential for a significant new gold camp with multiple deposits to be uncovered 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,” Kelly noted.
“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.
“Alongside previous results from the Piccadilly, Railway and 8-Mile targets, it is apparent that we have yet to uncover the full potential of the Gidji Project, which includes a further 4km of the Boorara Shear Zone which we have not yet started exploring,” he added.
Gidji JV project
The Gidji JV project (Miramar 80%) is located just 14km north of Kalgoorlie within the Boorara Shear Zone, a major regional structure, and along strike from large gold deposits.
Covered by historical drilling and sampling, the fact that most holes were drilled less than 60m deep opens up the opportunity of deeper targets.
Marylebone is at least 2km long and appears similar to the 4 million oz Paddington deposit just 10km along strike to the northwest.
The new Blackfriars target remains open to the northwest.
Phase Five and beyond
The company is awaiting results from the recent Phase 5 aircore drilling program and has secured a RC rig to test the Marylebone target in the first quarter of 2022.
It also plans to carry out first pass aircore drilling over the underexplored northern 4km portion of the Boorara Shear Zone.
This article was developed in collaboration with Mirimar 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.