Gidji Drilling Delivers More Gold Results

Miramar Resources Limited (ASX:M2R, “Miramar” or “the Company”) advises that initial assays from the current aircore drilling campaign at the Gidji JV Project include several significant gold results.

Miramar’s 80%-owned Gidji JV Project (“Gidji” or “the Project) is located approximately 15 kilometres north of Kalgoorlie and surrounded by multiple gold mining and processing operations, including Northern Star Resources Limited’s Kalgoorlie gold operations (Figure 1).

Miramar’s Executive Chairman, Mr Allan Kelly, said the first results from the current programme confirmed and extended the extensive supergene gold footprint discovered in previous drilling.

“The new results increase the footprint of the high-priority Blackfriars target, which shares several similarities to the multi-million-ounce Paddington gold deposit along strike to the north, including its location at the contact between the Boorara Shear Zone and the Black Flag Beds,” he added.

“This is the first systematic drilling at Gidji after a break of almost 3 years whilst, at the same time, the Australian dollar gold price has risen from $2,500/oz to well over $5,000/oz,” Mr Kelly said.

Current and previous drilling has outlined an extensive area of flat-lying supergene gold across multiple targets at Gidji, despite the stripped weathering profile under the Gidji Paleochannel.

The current drilling programme consists of approximately 180 aircore holes and aims to further refine bedrock drill targets under the younger transported paleochannel sediments.

Drilling commenced before Easter, was suspended due to heavy rainfall and recommenced on 6 May.

Figure 1. Gidji JV Project (yellow outline) and Boorara Shear Zone(white) in relation to Kalgoorlie.

Figure 2. New aircore drilling results (squares) in relation to previous drilling (circles).

Table 1. Significant drill results from the first 34 aircore holes at Gidji JV.Note: results reported above 0.25g/t Au lower cutoff

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