Miramar Resources

High Priority Bedrock Gold Target Identified at Gidji JV

Miramar Resources Limited (ASX:M2R, “Miramar” or “the Company”) is pleased to advise that reprocessing of geophysical data has upgraded the 8-Mile target within the Gidji JV Project (“Gidji” or “the Project”), 15 kilometres north of Kalgoorlie, WA.


  • Reprocessing of geophysical data increases potential for northern extension to NST’s 313koz “8 Mile Dam” Deposit at Miramar’s 8-Mile target

Miramar’s 8-Mile target is located at the southern boundary of the Gidji JV Project and abuts Northern Star Resources Limited’s 313koz “8 Mile Dam” gold deposit (Figure 1).

The reprocessed data shows a well-defined gravity and Induced Polarisation (IP) anomaly north of the 313koz “8 Mile Dam” Resource, which appears to have been offset by a SW-NE trending fault and underlies numerous significant aircore end of hole (EOH) results.

Miramar’s Executive Chairman, Mr Allan Kelly, said the combination of the multiple coincident datasets increased the potential for an extension to the 8 Mile Dam deposit within the Company’s Gidji JV Project.

“We have multiple high-grade end of hole aircore gold results overlying an IP and gravity anomaly which looks very similar to the 8 Mile Dam gold deposit immediately south of our tenement boundary,” he said.

“The geophysical data suggests that the deposit may extend into our ground but has been offset approximately 400 metres to the northeast by a fault,” he added.

“The 8-Mile offset target is within reach of RC drilling and, unlike the targets further north, there is no paleochannel covering the basement geology,” he said.

Figure 1. Google Earth image showing the 8 Mile Dam Deposit in relation to the Gidji JV Project.

According to publicly available information, the 8 Mile Dam Project contains 7Mt @ 1.4g/t Au for 313,977 contained ounces1 with primary mineralisation hosted in a steep southwest-dipping mafic unit within volcanoclastic sediments of the Black Flag Beds. Figure 2 shows a cross section through the deposit approximately 40m south of the Gidji JV tenement boundary.

In March-April 2021, Miramar completed the second phase of aircore drilling across the Gidji JV Project, including several holes at the 8-Mile target. Significant results along strike from 8 Mile Dam included 1m @ 1.17g/t (GJAC092), 3m @ 1.22g/t Au (GJAC097) and 1m @ 1.78g/t Au (GJAC099). Other holes also intersected anomalous gold including at the end of hole (ASX Release 12 April 2021 and 29 June 2021).

In May 2021, Miramar completed three diamond drill holes targeting a strike extension to the 8 Mile Dam deposit. All three diamond holes intersected the same geological package as 8 Mile Dam but intersected only minor gold mineralisation within the mafic unit (ASX Release 11 May 2021).

At the same time, Miramar completed an orientation IP survey comprising one line of Dipole-Dipole IP just north of the tenement boundary. The survey highlighted a chargeability anomaly close to the projected position of the 8 Mile Dam deposit but underneath and south of Miramar’s diamond holes (Figure 3).

Given the interpreted depth of the IP anomaly, the limited potential strike length north of the tenement boundary and the disappointing diamond drilling results, the target was downgraded with the Company focussing on the Marylebone target where numerous high-grade aircore gold results were being received.

The Company subsequently received assay results from EOH samples from the second phase of aircore drilling. Several holes at 8-Mile returned significant fire assay gold results (see Table 1). The best EOH results were offset to the northeast of both the diamond drilling and the IP anomaly and did not correlate well with the original aqua-regia assay results.

In early 2022, following the takeover of KCGM, Northern Star Resources Limited commenced diamond drilling at the 8 Mile Dam deposit, immediately south of the tenement boundary. Miramar staff observed that the new drilling was oriented towards the southwest, in the opposite direction to most of the drilling conducted by KCGM, implying that Northern Star were targeting a different geological model.

To date, Northern Star have not announced any results from that drilling.

In May 2022, Miramar completed a follow-up IP survey comprising a central transmitter line and two receiver lines spaced approximately 350m apart and extending for 1600m.

This Pole-Dipole IP survey highlighted a NW-trending chargeability anomaly offset approximately 400m to the northeast of the diamond holes and the orientation IP anomaly and located underneath the significant EOH aircore results (Figure 4). The new IP anomaly has a strike length of at least 250m, is approximately 400m below surface and remains open to the northwest.

The Company also reprocessed open file gravity data which highlights NW-trending gravity anomalies underlying both the 8 Mile Dam deposit and Miramar’s 8-Mile target where the gravity anomaly is also offset approximately 400 metres to the northeast by a SW-NE-trending fault (Figure 5).

Miramar is reviewing options for testing the offset 8-Mile target including aircore drilling and/or RC drilling. The Company has Programme of Work (POW) approval for drilling at this target.


Click here for the full ASX Release

This article includes content from Miramar Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

M2R:AU
The Conversation (0)
Juggernaut Announces Financing of $1,100,000 from Institutions and Accredited Investors

Juggernaut Announces Financing of $1,100,000 from Institutions and Accredited Investors

(TheNewswire)

Juggernaut Exploration Ltd.

Vancouver, British Columbia June 4 th 2025 TheNewswire - Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the "Company" or "Juggernaut"), is pleased to announce a fully subscribed $1,100,000 hard dollar financing further confirming the quality of the newly discovered 11 km Highway of Gold surrounding the Eldorado porphyry system on the Big One property. The discovery is in an area of glacial and snowpack abatement next door to the gold-rich porphyry systems at Newmont Mining's Galore Creek. The Big One Property is a discovery previously announced Jan 20 th (Click Link) with assays up to 79.01 gt gold (2.54 ozt gold) and 3157.89 gt silver (101.5 ozt silver) from over 200 gold-silver-copper rich polymetallic veins up to 8 m wide and striking for up to 500 m that all remain open at surface. The Big One Project covers 33,693 hectares in a globally ranked tier 1 jurisdiction with tremendous additional discovery potential in the heart of the Golden Triangle, British Columbia.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Aerial view of copper mine in Cobar, New South Wales.

Surge in Copper Demand Re-energises Cobar Basin’s Underexplored Resource Potential

The Cobar Basin in central New South Wales, Australia, may be emerging as a key focus for investors positioning for the next wave of copper supply. With a looming global shortage of the red metal and long-term demand being driven by electrification and decarbonisation, savvy investors are turning to proven but underexplored regions like Cobar — home to some of Australia’s highest-grade copper and polymetallic deposits.

Located within a region that holds 12 percent of Australia’s economic demonstrated copper resource, the Cobar Basin is backed by more than a century of mining success, strong infrastructure and modern exploration upside. With such high resource potential, junior explorers are keen to capitalise on the region’s rich copper history and established infrastructure.

Keep reading...Show less
Juggernaut Files for Final Approval of Oversubscribed Financing

Juggernaut Files for Final Approval of Oversubscribed Financing

(TheNewswire)

Juggernaut Exploration Ltd.

Vancouver, British Columbia TheNewswire - May 30, 2025 Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the "Company" or "Juggernaut"), further to its April 14 th April 23 rd April 25 th 2025, and May 15, 2025, news releases, the Company is pleased to announce that it has filed documents with the TSX Venture Exchange (the "Exchange") seeking final approval to close its private placement financing (the "Financing") for aggregate gross proceeds of $10,362,735.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Two copper-colored pens.

Harmony Gold to Acquire MAC Copper in US$1.03 Billion Deal

Harmony Gold Mining Company's (NYSE:HMY,JSE:HAR) wholly owned Australian subsidiary, Harmony Gold (Australia), has entered into a binding agreement to acquire MAC Copper (NYSE:MTAL,ASX:MAC).

MAC is the owner of the CSA copper mine in New South Wales. Its annual production comes to approximately 40,000 metric tons of copper, with 2024 output totaling 41,000 metric tons of the red metal.

The transaction is priced at US$12.12 per MAC share in cash, implying a total equity value of US$1.03 billion for MAC.

Keep reading...Show less
"Mine closed" sign with a yellow hard hat on textured blue wall.

Ivanhoe, Zijin Halt Operations at Kakula Copper Mine in DRC

Operations at Ivanhoe Mines' (TSX:IVN,OTCQX:IVPAF) Kakula mine in the Democratic Republic of the Congo (DRC) remain suspended after seismic activity was reported at the site.

Ivanhoe initially disclosed the interruption on May 20, when seismic activity was first detected, but extended the temporary shutdown on Monday (May 26) following several days of ongoing seismic events.

Employees working in the mine have been safely brought above ground, and mobile equipment has been removed.

Keep reading...Show less

Latest Press Releases

Related News

×