Miramar Resources (ASX:M2R) reports a maiden inferred mineral resource estimate (MRE) of 1.04 million tonnes at 1.20 grams per tonne (g/t) gold (Au) for 39,764 ounces at its 80%-owned Gidji Joint Venture Gold Project in Western Australia.
Mineralisation occurs as flat-lying blankets between 40m and 50m below surface, constrained within pit shells across multiple targets including Marylebone, Powerline, Blackfriars, and Highway.
The resource breaks down into 181,500 tonnes of supergene material at 1.03g/t Au, 410,375 tonnes of oxide material at 1.22g/t Au, 431,719 tonnes of transitional material at 1.22g/t Au, and 19,094 tonnes of fresh material at 1.23g/t Au.
Miramar says it identified 10 optimised open pits across the project. The Highway prospect contains the largest resource at 359,938 tonnes at 0.89g/t Au for 10,309 ounces. Marylebone contributes 8,161 ounces across multiple pits, while the 8-Mile supergene deposit holds 143,500 tonnes at 1.18g/t Au for 5,455 ounces.
CEO Marion Bush says the initial resource highlights the project’s scale and development potential.
“We believe that an even more exciting opportunity is that each of these resources potentially represents the tip of a much larger bedrock iceberg,” Bush says.
“Being located just 10 minutes from the Goldfields mining hub of Kalgoorlie, straddling the Goldfields Highway, and surrounded by mining infrastructure and processing plants, opens the door to multiple options to monetise the gold we’ve found to date, especially at the current gold price.”
Limited historical drilling has averaged less than 60m depth, leaving the shallow resources open for potential growth through deeper exploration.
The company has highlighted three key bedrock targets for ongoing exploration. Highway hosts a porphyritic diorite intrusion structurally similar to Northern Star Resources’ (ASX:NST) 6-million-ounce Kanowna Belle deposit 13km east, while Blackfriars shows geological similarities to the 2-million-ounce Paddington deposit 10km northwest.
Finally, Marylebon lies within the Boorara Shear Zone in a position analogous to the 100,000-ounce Panglo deposit.
Miramar intends to undertake infill and extensional drilling at Highway, Blackfriars, and Lake, alongside submitting a mining lease application and advancing discussions with potential development partners.
Miramar Resources is Western Australia-focused explorer concentrating on gold, copper, and nickel-copper-platinum group element deposits in the Eastern Goldfields and Gascoyne regions.
Write to Paula Fabe at Mining.com.au
Images: Mining.com.au
