High-Grade Gold Discovery Extends 8 Mile Prospect for Miramar Resources
Miramar Resources Limited (ASX:M2R) has announced a significant high-grade gold discovery in its first reverse circulation (RC) drill hole at the 8 Mile target within its Gidji JV Project, located approximately 15 kilometres north of Kalgoorlie in Western Australia’s renowned Eastern Goldfields.
First Drill Hole Strikes Significant Gold Mineralisation
The initial RC drill hole (GJRC029) has intersected an impressive zone of gold mineralisation with high-grade intervals, including 18m @ 0.94g/t Au from 480m with a higher-grade section of 1m @ 6.04g/t Au. Notably, the hole ended in mineralisation with 3m @ 0.52g/t Au at the final depth of 504m.
What makes this high-grade gold discovery by Miramar Resources Ltd particularly significant is its location – approximately 75m north of the tenement boundary with Northern Star Resources’ (NST) 8-Mile Dam gold deposit, which contains an estimated 7Mt @ 1.4g/t Au for 313,977 ounces according to the most recent publicly available data.
“This is the first time we have discovered significant gold mineralisation on our side of the fence, even though the drill hole didn’t end up exactly where we planned it to. The flip side of this is that we have extended the strike of gold mineralisation for over 100m on to our tenements,” said Miramar’s Executive Chairman, Allan Kelly.
| Hole ID | From (m) | To (m) | Interval (m) | Au (g/t) | Comments |
|---|---|---|---|---|---|
| GJRC029 | 64 | 448 | – | – | Assays pending |
| 448 | 480 | 32 | NSR | ||
| 480 | 497 | 18 | 0.94 | ||
| Incl. | 491 | 495 | 4 | 2.83 | |
| Incl. | 494 | 495 | 1 | 6.04 | |
| and | 501 | 504 | 3 | 0.52 | EOH |
Technical Success: Linking IP Anomalies to Gold Mineralisation
The drilling results establish a critical relationship between Induced Polarisation (IP) anomalies and gold mineralisation at the Gidji JV Project. GJRC029 targeted an IP anomaly on the tenement boundary interpreted to represent sulphide-rich gold mineralisation similar to that found at the neighboring 8 Mile Dam Deposit.
Despite a significant deviation from the planned drill path, the hole intersected a thick section of steep westerly-dipping and highly altered mafic unit with widespread sulphide mineralisation, including disseminated magnetite and coarse-grained arsenopyrite, pyrrhotite, and chalcopyrite.
“We’ve demonstrated a relationship between the IP anomalism and gold mineralisation, which makes the other IP anomalies we have outlined at Gidji even more prospective,” Kelly added.
This technical validation significantly enhances the prospectivity of other IP anomalies identified throughout the Gidji project, potentially indicating multiple gold targets for future exploration.
Understanding Induced Polarisation (IP) Surveys
Induced Polarisation (IP) is a geophysical survey method used to identify subsurface materials based on their electrical chargeability properties. For gold explorers like Miramar, IP surveys are particularly valuable because they can detect disseminated sulphide minerals that often accompany gold mineralisation.
When an electrical current is applied to the ground, sulphide minerals become electrically charged (polarized). When the current is switched off, the ground gradually discharges this stored energy. IP surveys measure this discharge response, with stronger responses potentially indicating zones of sulphide mineralisation.
The successful correlation between the IP anomaly and gold mineralisation at 8 Mile provides Miramar with a powerful targeting tool for further exploration across the Gidji project. This technical success significantly increases the probability that other IP anomalies within the project area may also be associated with gold mineralisation.
Strategic Position and Development Timeline
The Gidji JV Project’s location provides strategic advantages for potential future development:
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- Situated only 15km north of Kalgoorlie-Boulder, a major gold mining centre
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- Surrounded by multiple gold mining and processing operations
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- Contains approximately 15 kilometres of strike of the Boorara Shear Zone, which hosts several gold deposits
The company’s immediate plans include:
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- Completing the current RC drilling programme testing two other IP targets
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- Planning further RC and/or diamond drill holes to test the dip and strike extent of the mineralisation
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- Commencing an EIS-co-funded detailed airborne magnetic and VTEM survey at the Bangemall Ni-Cu-PGE Projects in mid-July
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- Conducting field sampling at the high-grade Chain Pool Cu-Pb-Zn-Ag Project
Adding long-term security to the project, the WA Department of Mines, Petroleum and Exploration has extended the main Gidji JV tenement (E26/214) for a further five years until March 2030.
Investment Potential: Why Miramar Deserves Attention
Miramar Resources presents a compelling investment case for several reasons:
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- Discovery success: The company has now demonstrated the ability to make significant gold discoveries, with the high-grade gold discovery by Miramar Resources Ltd at the 8 Mile target showing promising results in its very first drill hole.
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- Strategic land position: The Gidji JV Project is positioned in a world-class gold district surrounded by producing mines and established infrastructure.
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- Technical validation: The correlation between IP anomalies and gold mineralisation provides a roadmap for future discoveries across the project area.
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- Experienced leadership: The company’s board has a track record of successful discovery, development, and production across Australia, Africa, and North America.
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- Diversified exploration portfolio: Beyond Gidji, Miramar is actively exploring for gold, copper, and Ni-Cu-PGE deposits across Western Australia.
A Golden Opportunity in Western Australia
Miramar’s high-grade gold discovery by Miramar Resources Ltd at 8 Mile represents a significant extension of known gold mineralisation in the Gidji JV Project area. With the first RC hole ending in mineralisation and extending the gold system 75m north of the tenement boundary, the company has effectively expanded the footprint of the neighboring 8 Mile Dam deposit onto its ground.
The technical success in correlating IP anomalies with gold mineralisation provides Miramar with an enhanced targeting tool for future exploration. Similar to Hammer Metals’ recent gold-copper discoveries in North Queensland, Miramar’s findings indicate substantial potential for resource expansion.
For investors seeking exposure to active gold exploration in one of Australia’s premier mining districts, Miramar Resources offers a compelling opportunity to participate in the early stages of what could potentially develop into a significant new gold discovery. Furthermore, Matsa Resources’ high-grade gold hits in a nearby region demonstrate the continued prospectivity of Western Australia’s goldfields.
The company joins several Australian explorers making notable progress, including Benz Mining’s high-grade gold lens discoveries and S2 Resources’ multi-target drilling campaign across various Australian projects. These developments, along with EcoGraf’s progress on environmental planning for its graphite project, highlight the vibrant exploration activity currently underway across the Australian resources sector.
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