Miramar Doubles Gidji Gold Target to 325,125 oz Near Kalgoorlie

Miramar Resources (ASX:M2R) has more than doubled the gold exploration target at its 80%-owned Gidji joint venture project north of Kalgoorlie. The upper range now sits at 325,125 ounces of gold, based on drilling across five prospects: Marylebone, Powerline, Blackfriars, Highway and Railway.

Managing Director Marion Bush called the update a key milestone. “This has more than doubled the gold exploration target at Gidji, with further potential identified in areas with little or no deep drilling to date,” she said.

The company is working with a resource geologist to review the drilling data and estimate a maiden JORC-compliant mineral resource. Bush said the shallow gold already found opens multiple monetisation options, especially at current gold prices. “Being located so close to the Goldfields mining hub of Kalgoorlie and adjacent to the Goldfields Highway opens the door,” she added.

The updated estimate draws on a subset of Miramar’s drilling database: 939 aircore holes (53,362 metres), 26 reverse-circulation holes (4,007 metres) and one diamond hole (190.75 metres). Historical data from previous tenement holders was also included. The estimate excludes the 8 Mile Dam area and northern targets.

Recent aircore drilling added supergene and paleochannel gold at Powerline, Blackfriars and Highway. The company is preparing a mineralisation report to support a Mining Lease application over the main mineralised zones under the Gidji Paleochannel.

Bush noted that Northern Star Resources continues to progress the 8 Mile Dam Project on Gidji’s southern boundary. “We believe the Gidji Project has substantial value not currently being recognised by the market,” she said.

Miramar is in early-stage discussions with potential development partners. The next catalyst is the resource estimate, which could lead to infill drilling and a formal resource statement. For a broader view of gold sector dynamics, see the gold profile.