Miramar Resources has reported a standout shallow high-grade gold intersection at its Gidji JV Gold Project near Kalgoorlie, boosting hopes for a new gold resource. Further assays and drilling are underway to define the scale of this promising discovery.
- 3m at 9.45g/t gold including 1m at 23.11g/t at Highway Prospect
- 19-hole RC drilling campaign completed, totaling 2431 metres
- Drilling confirms supergene gold mineralisation beneath paleochannel
- Further assays pending with plans for additional resource-focused drilling
- Upcoming auger drilling planned at Chain Pool Project targeting copper, lead, silver
High-Grade Gold Discovery at Gidji JV
Miramar Resources Limited (ASX:M2R) has announced encouraging results from its recent reverse circulation (RC) drilling campaign at the Gidji Joint Venture (JV) Gold Project, located just 15 kilometres north of the prolific Kalgoorlie gold mining region in Western Australia. The highlight is a shallow, high-grade gold intersection of 3 metres at 9.45 grams per tonne (g/t) gold, including an exceptional 1 metre interval grading 23.11 g/t at the Highway Prospect.
This intersection represents the best gold result recorded at the Gidji Project to date and significantly enhances the prospectivity of the area for a shallow gold resource. The Highway Prospect is one of several targets within the JV where Miramar has made multiple gold discoveries since 2020, despite the challenges posed by transported cover and the Gidji Paleochannel.
Drilling Campaign and Geological Insights
The recent RC drilling program comprised 19 holes totalling 2431 metres, designed to test beneath earlier aircore drilling anomalies at the Highway and Blackfriars prospects. The drilling successfully intersected supergene gold mineralisation, often located at or just below the base of the paleochannel, confirming the presence of gold-enriched weathered material.
Geologically, the Highway Prospect drilling outlined an altered diorite body rich in sulphides, sandwiched between mafic units, which appears to be the host for the high-grade gold mineralisation. The standout hole, GJRC043, intersected the high-grade zone from 47 to 50 metres downhole, straddling the boundary between basal gravels and weathered diorite.
Next Steps and Broader Exploration Strategy
Miramar’s Managing Director, Marion Bush, expressed optimism about the results and the potential for a new gold camp within the Gidji JV. The company is awaiting the remaining assay results from this drilling program, most of which are expected from the Highway Prospect. These results will inform the planning of further drilling, including bedrock testing and resource drilling aimed at defining a JORC-compliant gold resource.
In parallel, Miramar is preparing for an auger drilling campaign at its 100%-owned Chain Pool Project in the Gascoyne region, targeting high-grade copper, lead, and silver mineralisation at the Joy Helen prospect. This diversified exploration approach underscores Miramar’s commitment to unlocking value across its portfolio of Western Australian mineral assets.
Strategic Implications
The Gidji JV Project’s proximity to multiple gold processing plants in the Eastern Goldfields region provides Miramar with a strategic advantage in potentially fast-tracking any future resource towards development. The recent high-grade intersections, combined with the extensive strike length of the Boorara Shear Zone within the JV, suggest the possibility of multiple deposits forming a new gold camp.
While true widths of mineralisation remain to be confirmed and many assay results are still pending, the current data points to a compelling exploration story that could materially enhance Miramar’s resource base and market profile.
Bottom Line?
Miramar’s latest high-grade gold hit at Gidji sets the stage for a pivotal phase of resource definition and growth.
Questions in the middle?
- What will the remaining assay results reveal about the extent of mineralisation at Highway?
- How soon can Miramar advance from exploration to defining a JORC-compliant resource?
- What impact will the Chain Pool copper-lead-silver targets have on the company’s overall valuation?