- Miramar Resources (M2R) reports multiple high-grade gold results from aircore drilling at its 80 per cent owned Gidji Joint Venture project in Western Australia
- Several of the high-grade intercepts came from within the northern end of the Marylebone East target
- The company is planning further follow-up reverse circulation and aircore drilling at this target, following the receipt of necessary approvals
- Shares are trading 9.41 per cent higher at 9.3 cents each at 3:52 pm AEST
Miramar Resources (M2R) has reported multiple high-grade gold results from aircore drilling at its 80 per cent owned Gidji Joint Venture project in Western Australia.
Several of the high-grade intercepts came from within the northern end of the Marylebone East target, where the company is currently conducting follow-up reverse circulation (RC) and diamond drilling.
The best result came from GJAC562, after intersecting five metres at 2.51 grams per tonne (g/t) gold and 12.3 g/t silver.
The mineralisation from this hole remains open to the north and northwest for at least 200 metres.
The company has been planning further follow-up RC and aircore drilling at this target, following the receipt of necessary approvals.
Executive Chairman Allan Kelly said the results support the potential for multiple new gold deposits.
“So far, we have outlined multiple very large aircore gold footprints. Our next challenge is to cost-effectively locate the primary source of these footprints with deeper RC and/or diamond drilling,” he said.
Shares were trading 9.41 per cent higher at 9.3 cents each at 3:52 pm AEST.