Miramar Resources Launches RC Drilling to Unlock 8 Mile Gold Extensions Near Kalgoorlie

• RC drilling commenced at 8 Mile target to test northern extensions of 8-Mile Dam deposit
• Drill-for-equity agreement with Topdrill covers 40% of drilling costs up to $500,000
• Previous diamond drilling and IP surveys suggest fault-offset mineralisation extensions
• Gidji JV Project located 15 km north of Kalgoorlie, surrounded by major gold operations
• Additional exploration activities underway at Bangemall and Chain Pool projects

Exploring the Northern Frontier of 8-Mile Dam

Miramar Resources Limited (ASX, M2R) has kicked off reverse circulation (RC) drilling at the high-priority 8 Mile target within its Gidji Joint Venture Project, situated roughly 15 kilometres north of the prolific gold mining hub of Kalgoorlie, Western Australia. This drilling campaign aims to test for northern extensions of the well-known 8-Mile Dam gold deposit, a resource boasting an estimated 7 million tonnes at 1.4 grams per tonne gold, containing over 310,000 ounces.

The 8 Mile target lies immediately adjacent to Northern Star Resources’ 8-Mile Dam deposit, a site that has historically delivered significant drill intersections, including intervals exceeding 200 metres at grades above 1 gram per tonne. Miramar’s recent diamond drilling in 2021 intersected similar geology, but indications are that faulting may have offset the mineralisation, complicating direct extensions.

Strategic Use of Geophysics and Drill-for-Equity Partnership

To refine targeting, Miramar conducted Induced Polarisation (IP) surveys that revealed chargeability anomalies consistent with sulphide-associated gold mineralisation on their side of the tenement boundary. These geophysical insights, combined with encouraging aircore drilling results, have shaped the current drilling program, which is expected to last two to three weeks.

Notably, Miramar has entered a drill-for-equity agreement with Topdrill, under which Topdrill will cover 40% of the drilling costs up to $500,000. This arrangement allows Miramar to extend the depth and number of holes drilled without proportionally increasing capital outlay, a savvy move in an exploration environment where cost efficiency is paramount.

Broader Exploration Momentum Across Miramar’s Portfolio

Beyond 8 Mile, Miramar is advancing multiple exploration fronts. The company has completed an aircore drilling campaign and Sub-Audio Magnetic (SAM) survey at Gidji, with results pending. Preparations are underway for a detailed airborne magnetic and VTEM survey at the Bangemall nickel-copper-platinum group elements project, co-funded by the Environmental Impact Statement (EIS) program, slated to commence mid-July.

Additionally, Miramar plans further soil and rock chip sampling at the Chain Pool copper-lead-zinc-silver project following the Gidji drilling. These activities underscore the company’s commitment to unlocking value across its diverse portfolio in Western Australia’s mineral-rich Eastern Goldfields and Gascoyne regions.

Potential for a New Gold Camp

Miramar’s Executive Chairman Allan Kelly highlights the potential for a new gold camp within the Gidji JV Project, noting that despite its proximity to major mining operations, the area has been underexplored due to geological complexities such as transported cover and paleochannels. The current drilling campaign could be a pivotal step in confirming extensions of the 8-Mile Dam mineralisation and establishing new deposits, potentially reshaping the regional gold landscape.

Bottom Line?

As Miramar drills deeper into the 8 Mile target, the market awaits assay results that could unlock a new chapter in Kalgoorlie’s gold story.

Questions in the middle?

• Will the RC drilling confirm fault-offset extensions of the 8-Mile Dam gold mineralisation?
• How might the drill-for-equity agreement influence Miramar’s exploration pace and capital efficiency?
• What impact will upcoming survey results have on the broader Gidji JV Project’s resource potential?