Miramar Resources Unveils New Gold Targets at Gidji JV with SAM Survey Insights

Exploration Progress at Gidji JV

Miramar Resources Limited (ASX – M2R) has advanced its exploration program at the Gidji Joint Venture (JV) Gold Project, located just 15 kilometres north of Kalgoorlie in Western Australia. The company’s recent aircore drilling campaign, comprising nearly 12,000 metres across 200 holes, has delivered encouraging gold assay results, with multiple intercepts ranging from 1 to 6 grams per tonne (g/t) of gold at the Highway and Blackfriars targets. These results have extended the known strike lengths of mineralisation to approximately 1,300 metres and 1,200 metres respectively, with both zones remaining open for further expansion.

Complementing the drilling, Miramar commissioned a Sub Audio Magnetic (SAM) survey using an unmanned aerial vehicle (UAV), a cutting-edge geophysical technique that actively induces electromagnetic fields to detect conductive structures beneath surface cover. This survey has revealed several significant bedrock conductors that correlate strongly with the gold and sulphur anomalies identified in the aircore drilling, providing a refined structural framework to guide future drilling efforts.

Geophysical Insights and Targeting

The SAM survey has been instrumental in mapping concealed mineralised structures beneath the Gidji Paleochannel, a weathered cover that has historically hindered exploration. Notably, a 900-metre-long conductor aligns with gold and elevated sulphur results at the Highway target, while an 1,800-metre conductor corresponds to the Blackfriars target along a major shear zone contact. Additionally, a strong 2,000-metre conductor at the Marylebone target area coincides with multiple gold intercepts, underscoring the potential for further discoveries within the project area.

Miramar’s Executive Chairman, Allan Kelly, emphasised the importance of integrating geophysical data with geochemical pathfinder elements such as silver, bismuth, antimony, and tellurium to pinpoint bedrock gold mineralisation. He noted that the stripped weathering profile at Gidji presents exploration challenges but also opportunities to uncover deposits that have eluded previous explorers.

Ongoing and Future Drilling Programs

Building on these encouraging results, reverse circulation (RC) drilling is currently underway at the 8-Mile Dam deposit within the Gidji JV under a drill-for-equity arrangement with Topdrill. This agreement allows Miramar to manage drilling costs flexibly by issuing shares for up to 40% of direct expenses, capped at $500,000. The RC program aims to test extensions of the known 314,000-ounce gold deposit, potentially enhancing the project’s resource base.

Beyond Gidji, Miramar is preparing for an Environmental Impact Statement (EIS)-co-funded detailed airborne magnetic and Versatile Time Domain Electromagnetic (VTEM) survey at its Bangemall nickel-copper-PGE project, scheduled to commence by the end of July. Additionally, a field campaign for soil and rock chip sampling is planned at the Chain Pool copper-lead-zinc-silver project following the completion of drilling at Gidji, reflecting the company’s diversified exploration strategy in Western Australia.

Strategic Positioning in the Eastern Goldfields

The Gidji JV Project, 80% owned by Miramar, is strategically situated within the prolific Eastern Goldfields Province, surrounded by established gold mining operations including Northern Star Resources’ Kalgoorlie assets. Despite its proximity to major mines, Gidji has remained underexplored due to extensive transported cover and complex geology. Miramar’s systematic exploration approach combining high-resolution geophysics and targeted drilling is unlocking new potential, with the company envisioning the emergence of a new gold camp hosting multiple deposits.

While true widths of mineralisation remain to be confirmed, the integration of aircore drilling results with SAM survey data is providing a clearer picture of the subsurface architecture, enabling more precise targeting of bedrock gold mineralisation. This approach underscores Miramar’s commitment to advancing the project towards resource definition and eventual development.