Miramar Resources Ltd (ASX:M2R) has announced that recent surveying work conducted at its 8-Mile target in Western Australia may indicate an extension to the nearby 313-thousand-ounce 8 Mile Dam gold deposit owned by Northern Star Resources Ltd (ASX:NST).
Miramar progressed an induced polarisation (IP) survey at the 8-Mile target – itself part of the company’s wider Gidji project in WA’s Eastern Goldfields region – which extended the chargeability anomaly offset from the northern end of the 8 Mile Dam gold deposit.
Moreover, it reported that this anomaly underlies multiple significant aircore end of hole (EOH) gold results at the site.
Miramar executive chairman Allan Kelly said the new IP anomaly was evidently 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.
“We look forward to drill testing this high priority target later in the year.”
Miramar is trading at 0.8 cents.