Potential Extension to 8 Mile Dam Gold Deposit Outlined by IP Survey at Gidji JV

Miramar Resources Limited (ASX:M2R, “Miramar” or “the Company”) is pleased to advise that Induced Polarisation (IP) surveys have upgraded the high-priority “8-Mile” Target within the Company’s 80%-owned Gidji JV Project and adjacent to Northern Star Resources Limited’s 313koz “8 Mile Dam” gold deposit.

• IP survey outlines potential extensions to 313koz 8 Mile Dam gold deposit
• Significant aircore EOH gold results above IP anomalies offset by faulting
• Drill testing at 8-Mile planned after maiden Bangemall Ni-Cu-Co-PGE drilling campaign

Miramar’s Executive Chairman, Mr Allan Kelly, said the new IP anomaly was shallower than expected.

“It appears the 8 Mile Dam deposit could continue for some distance to the north but has been offset by faulting, including at the tenement boundary,” he said.

“The fact that we have multiple aircore holes ending in elevated gold over the IP anomalies strengthens this theory,” he said.

“It’s also pleasing to see that the northern part of the IP anomaly is shallower than expected,” he added. “We look forward to drill testing this high priority target later in the year,” he said.

Figure 1. Collecting IP data at Miramar’s 8-Mile target.

Figure 2. IP anomalies and aircore EOH gold results in relation to the 8 Mile Dam gold deposit.

Background

According to publicly available data, the 8 Mile Dam gold deposit (7Mt @ 1.4g/t Au for 313,977oz1) comprises shallow supergene and deeper primary gold mineralisation hosted in:

• Quartz-carbonate-sulphide veins within hanging wall sediments; and
• A hydrothermally altered mafic unit cut by quartz veins with sphalerite, chalcopyrite and visible gold

Figure 3 shows a cross section through the deposit, approximately 60m south of the tenement boundary.

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