Connect with us

Hi, what are you looking for?

Investing

Gidji JV Exploration Update

Miramar Resources Limited (ASX:M2R, “Miramar” or “the Company”) provides the following update on exploration activities within the Company’s strategic Eastern Goldfields project portfolio.

RC drilling intersects “Paddington-style” dolerite at BlackfriarsPotential bedrock structures identified in aircore assay data

As previously advised, the Company secured a drill rig at short notice and completed a single RC drill hole at the high-priority Blackfriars prospect, within the Gidji JV Project (“Gidji”).

GJRC028 was drilled beneath aircore hole GJAC627 (1m @ 11.8g/t Au and 6g/t Ag EOH) and planned to intersect the dolerite footwall contact but was abandoned at 130m due to difficult drilling conditions associated with running sands in the overlying Gidji Paleochannel.

The hole intersected a quartz-dolerite unit, similar to the >2 million ounce Paddington gold deposit along strike to the north, with significant sulphide mineralisation and quartz-carbonate stringer veins from 113m downhole (Figure 1).

Samples of the last three metres before the hole was abandoned contain anomalous gold, silver and antimony along with the increase in sulphide mineralisation (Table 2).

Miramar’s Executive Chairman, Mr Allan Kelly, said the Blackfriars target remained untested at this stage.

“Frustratingly, we had to abandon the hole just when it was starting to look interesting,” he said.

“The reason that the Gidji Project has remained underexplored for so long, despite its prime location on a major highway between two major gold camps, is due in large part to the presence of extensive transported cover and the Gidji Paleochannel,” Mr Kelly said.

“This makes drilling more challenging than in other parts of the Goldfields but also means that any potentially significant bedrock gold mineralisation remains undiscovered,” he said.

“Given the favourable geology and structural setting, and the amount of shallow gold we have outlined from aircore drilling so far, we still believe Gidji has the potential to host significant bedrock gold mineralisation in one or more deposits,” he added.

Click here for the full ASX Release

This post appeared first on investingnews.com

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Stock

    Leading chip designer Advanced Micro Devices, Inc. (AMD) is at a critical juncture, one which could go either way depending on the dynamics of...

    Investing

    Output from the top uranium-producing countries rose steadily for a decade, peaking at 63,207 metric tons (MT) in 2016. However, global uranium production has...

    Editor's Pick

    There is no trial in recent history, or possibly all of American history, that can rival the one underway in Lower Manhattan. For the...

    Stock

    Meta Platforms Inc. (META), the social media giant formerly known as Facebook, has been in tight consolidation at the top of its range for...

    Disclaimer: Dealwithbiz.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 Dealwithbiz.com