Miramar Resources has reported significant initial aircore drilling results at its Gidji JV Project near Kalgoorlie, extending the high-priority Blackfriars gold target and confirming extensive supergene mineralisation beneath a paleochannel.
- Initial aircore drilling extends Blackfriars gold target footprint
- Gold grades above 0.25 g/t with associated silver assays reported
- First systematic drilling at Gidji in nearly three years
- Project located near major Kalgoorlie gold operations
- Further drilling planned to refine and test deeper bedrock targets
Renewed Exploration Momentum at Gidji
Miramar Resources Limited (ASX: M2R) has delivered encouraging early results from its latest aircore drilling campaign at the Gidji Joint Venture Project, located approximately 15 kilometres north of Kalgoorlie in Western Australia. This marks the first systematic drilling activity at Gidji in nearly three years, a period during which the Australian dollar gold price has more than doubled, enhancing the project's economic potential.
Extending the Blackfriars Gold Target
The initial 34 aircore holes have confirmed and expanded the footprint of the Blackfriars target, a high-priority zone that shares geological similarities with the nearby multi-million-ounce Paddington deposit. The drilling has outlined extensive supergene gold mineralisation beneath a shallow paleochannel, with assays reporting gold grades exceeding 0.25 grams per tonne alongside notable silver values. These results suggest a significant supergene gold system that warrants further detailed investigation.
Strategic Location and Exploration Potential
Gidji is strategically positioned within the prolific Eastern Goldfields Province, surrounded by multiple mining and processing operations, including those operated by Northern Star Resources Limited. Despite this, the area has remained relatively underexplored due to transported cover and the presence of a paleochannel that obscures shallow basement geology. Miramar’s renewed drilling efforts aim to refine targets beneath this cover and test for deeper bedrock mineralisation, potentially unlocking new discoveries in a world-class gold province.
Looking Ahead: Further Drilling and Development
The current aircore program, comprising approximately 180 holes, is designed to delineate and refine multiple bedrock targets beneath the paleochannel sediments. Drilling was temporarily suspended due to heavy rainfall but has since resumed, with further results expected to provide greater clarity on the extent and grade of mineralisation. Miramar’s Executive Chairman Allan Kelly highlighted the significance of these early results in extending the known gold system and the opportunity presented by the current elevated gold price environment.
Implications for Miramar and Investors
These initial findings at Gidji reinforce Miramar’s strategy of targeting underexplored yet prospective gold belts in Western Australia. The expansion of the Blackfriars target and confirmation of supergene mineralisation could position the project as a key asset in Miramar’s portfolio. Investors will be watching closely as further drilling results emerge, potentially setting the stage for resource delineation and advancing the project towards development.
Bottom Line?
Miramar’s Gidji drilling results open a promising chapter, but the true scale and economic viability remain to be proven.
Questions in the middle?
- What is the potential size and grade of the deeper bedrock gold mineralisation at Gidji?
- How will Miramar prioritise targets for follow-up drilling within the expanded Blackfriars footprint?
- What impact will the rising Australian dollar gold price have on the project’s development timeline?