Miramar Resources (ASX:M2R) reports shallow high grade gold intersection at Gidji near Kalgoorlie

Exploration junior Miramar Resources has reported a shallow high grade gold intersection from reverse circulation drilling at its Gidji JV Gold Project, located approximately 15 km north of Kalgoorlie Boulder in Western Australia’s Eastern Goldfields Province.

The result comes from drilling at the Highway Prospect, one of several discoveries made at the project since exploration began in 2020, and highlights the emerging potential of the underexplored tenure situated along the Boorara Shear Zone.

Highlights

• 3 m @ 9.45 g/t Au from 47 m, including 1 m @ 23.11 g/t Au, intersected in hole GJRC043 at the Highway Prospect.

• Reverse circulation programme comprised 19 holes for a total of 2431 m.

• Drilling tested targets including Highway and Blackfriars beneath earlier aircore gold intersections.

• Multiple additional holes returned gold anomalism at or directly under the base of the Gidji Paleochannel.

• Further assays from the programme remain pending, with additional drilling planned depending on results.

The standout intercept was returned from hole GJRC043 at the southern end of the Highway Prospect, where drilling encountered a mineralised interval within a sample containing basal gravels and weathered diorite.

According to the company’s cross section, the mineralisation occurs near the boundary between the Gidji Paleochannel sediments and underlying basement geology.

Geologically, the drilling has outlined an altered diorite body with abundant sulphides positioned between more mafic units.

The presence of sulphide rich alteration in this structural setting provides additional geological context for the gold mineralisation intersected in the programme.

Beyond the headline intercept, several other holes returned lower grade gold results above 0.25 g/t Au across intervals of between 1 m and 5 m.

Examples include 5 m @ 0.60 g/t Au from 54 m in GJRC040 and 3 m @ 0.71 g/t Au from 58 m in GJRC039, indicating broader gold anomalism within the target area.

The programme was designed to follow up significant aircore intersections and assess the potential for shallow mineralisation capable of supporting an initial JORC compliant gold resource.

The drilling included both angled holes targeting bedrock mineralisation beneath previous aircore results and vertical holes aimed at testing shallower zones.

Miramar Managing Director Marion Bush said the intersection represented a notable milestone for the project.

“This high-grade intersection at Highway is the best gold result from the Project to date and increases the potential for a shallow gold resource at Gidji, where our proximity to numerous gold processing plants aids our ability to monetise any deposit. The intersection is surrounded by several other aircore and / or RC gold intersections with space for infill drilling, so we hope it’s the beginning of a significant discovery.”

The Gidji JV Project is held 80% by Miramar Goldfields Pty Ltd and 20% by Thunder Metals Pty Ltd and covers approximately 15 km of strike along the Boorara Shear Zone, a structure that hosts several gold deposits along strike in either direction within the broader Eastern Goldfields district.

Despite its location within a prolific gold producing region surrounded by multiple mining and processing operations, the project area has historically been underexplored.

The company attributes this to the presence of shallow transported cover and the Gidji Paleochannel, which crosscuts prospective basement geology and can obscure mineralisation from surface exploration methods.

Since commencing exploration at Gidji in late 2020, Miramar has identified several new supergene gold zones through systematic aircore drilling and subsequently defined multiple bedrock targets for deeper testing.

In parallel with activity at Gidji, Miramar is preparing an auger drilling campaign at its 100% owned Chain Pool Project in the Gascoyne region of Western Australia, where previous work has outlined high grade copper, lead and silver mineralisation alongside sedimentary exhalative style alteration at the Joy Helen prospect.

For now, the focus remains on the Highway Prospect, where the latest intersection provides an early indication of shallow gold mineralisation within a project area that has only recently begun to see systematic drilling beneath cover.

As additional assays are received and drilling plans evolve, investors will be watching closely to see whether the emerging target develops into a defined resource within one of Australia’s most established gold districts.

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