Goldfields Exploration Update

Miramar Resources Limited (ASX:M2R, “Miramar” or “the Company”) is pleased to provide an update on gold exploration activities within the Company’s strategic Eastern Goldfields project portfolio.

• RC drill hole completed under high-grade Blackfriars gold prospect (Gidji JV)
• New Exploration Licence application expands land position along Randall Fault

The Blackfriars Target is located at the contact between the Black Flag Group and mafic and ultramafic rocks within the Boorara Shear Zone and shares the same geological setting as the >2 million ounce Paddington gold deposit along strike to the north.

Given the apparent similarities to Paddington, Blackfriars is a high priority target within the Gidji JV Project.

The Blackfriars aircore gold footprint stretches for at least 1 kilometre at greater than 1g/t Au and remains open along strike to the northwest on the other side of the Goldfields Highway.

The recent RC hole, GJRC028, tested beneath the high-grade result in aircore hole GJAC627, which ended in black shale with quartz-carbonate veining and sulphides and returned a result of 1m @ 11.8g/t Au and 6g/t Ag (46-47m EOH) (see ASX Release dated 8 April 2022).

GJRC028 intersected black shale and silicified dolerite with sulphide mineralisation and quartz stringers but was terminated at 130m due to difficult drilling conditions associated with running sands in the overlying Gidji Paleochannel.

Miramar’s Executive Chairman, Mr Allan Kelly, said the Gidji JV Project had the potential to host a new gold camp with multiple deposits but was significantly underexplored.

“Gidji is in a fantastic location within a major mineralised structure, between two major gold camps, Kalgoorlie and Paddington,” Mr Kelly said.

“Despite this, and the record gold price, the Project has had minimal effective historic exploration, and virtually no deep drilling, as evidenced by our ability to discover high-grade bedrock gold mineralisation with shallow aircore drilling only 150 metres from a major highway,” he said.

Samples from the RC hole have been sent for analysis and further aircore and RC drilling is planned.

The Company is also working towards obtaining approvals for drilling of other high-priority targets at Gidji including:

• Marylebone – multiple high grade gold results including GJAC562 (6m @ 2.2g/t Au and up to 28g/t Ag) associated with massive sulphide mineralisation in black shale
• Roaster – 2m @ 3.3g/t Au in GJAC577 – open along strike
• Eight-mile – potential northern extension of Northern Star Resources Limited’s 300,000-ounce “Runway/8 Mile Dam” deposit
• The Jog – gravity anomaly and magnetic depletion within jog in the Boorara Shear Zone

New Application

The Company has also further expanded its strategic Eastern Goldfields tenement portfolio with a new Exploration Licence Application south of the recently acquired Lake Yindarlgooda Project (Figure 2).

The “Venetian” Target, E25/649, covers a package of mafic rocks immediately adjacent to the Randall Fault and contains historic RAB drill holes with anomalous gold results within and along strike of E25/649.

Miramar will compile all historical data and work towards grant of the tenement.

Click here for the full ASX Release

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