Miramar (ASX:M2R) strike high grade gold at Glandore
December 19, 2022Miramar Resources has confirmed high-grade gold mineralisation of up to 18g/t at its Glandore East prospect in the Eastern Goldfields of Western Australia.
Diamond drilling intersected the narrow high-grade gold mineralisation over 0.4m within a broader zone of low-grade gold mineralisation (6m @ 1.39g/t Au) in altered fine-grained rhyolite.
Glandore East showing diamond drilling and aircore gold footprint (red outline)
Excitingly GDDD007 is just 75 metres north of GDDD004, which also intersected high-grade mineralisation (0.8m @ 12.6g/t Au, including 0.4m @ 23.0g/t Au).
The Company said bedrock gold mineralisation seen at Glandore East underlies a large supergene gold footprint.
“The initial drilling programme at Glandore East has confirmed the presence of primary gold mineralisation within multiple northeast-trending structures, with four out of the six effective holes successfully intersecting high-grade bedrock gold mineralisation beneath the supergene gold layer,” Executive Chairman Allan Kelly said.
“Our aim now is to locate where the volume of gold mineralisation might increase, potentially as a result of a change in rock type.”
“In my experience, the competency contrast between the more brittle granodiorite intrusion and the more ductile and chemically reactive mafic units, complicated by the multiple northeast-trending structures, provides an ideal setting for gold mineralisation.
“The last hole is also encouraging, as it appears to contain more extensive alteration and a wider low grade gold halo, so we are potentially moving in the right direction.”
Price Action
The Company’s ASX-listed shares are 8.1c at pre-Market Open.
Next Steps
The Company plans to complete a more detailed ground or UAV magnetic survey in the first quarter of 2023, examining underexplored, highly prospective areas beyond GDDD007.
About Miramar Resources Limited
Miramar Resources Limited is an active diversified mineral exploration company exploring gold, IOCG, REE and Ni-Cu-PGE deposits in Western Australia’s Eastern Goldfields, Murchison and Gascoyne regions.
Miramar’s Board has a track record of discovery, development and production and aims to create shareholder value by discovering high-quality mineral deposits.
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