Miramar Resources sets the stage for productive 2021

Miramar Resources Ltd (ASX:M2R) is encouraged by progress made since listing on the ASX in October which has set the stage for growth in 2021 as it steps up exploration. Executive chairman Allan Kelly reflects the company’s optimism when he states that the fourth quarter “achievements were exciting, but the real work has now begun”. During the current quarter, the company purchased an 80% interest in the Gidji JV project tenements and the focus is on testing the potential for extensions to the adjoining 314,000-ounce Runway deposit. The first drilling program has recently been completed at the highly prospective project north of Kalgoorlie and Miramar is expecting results to start coming in over the Christmas/New Year break. The initial aircore drilling will be followed up with deeper reverse circulation (RC) and/or diamond drilling. “Looking forward to results” In a Christmas message to shareholders, Kelly said: “On behalf of Miramar Resources Limited, I would like to thank you for your interest and support throughout 2020. “Our IPO was heavily oversubscribed and we opened and closed at a significant premium to the IPO price on our first day on the ASX. “Those achievements were exciting but the real work has now begun, with our first drill program recently completed at the highly prospective and well-located Gidji JV Project 15 kilometres north of Kalgoorlie.” Planning for next drilling Gidji JV Project consists of three granted tenements and 14 applications covering a strike length of approximately 12 kilometres. The company has planned two diamond holes at Gidji, adjacent to the southern tenement boundary and directly along strike from the Runway deposit. It aims to complete the Gidji drill holes in the March quarter, pending rig availability. According to historic Kalgoorlie Consolidated Gold Mines Pty Ltd reports, the Runway deposit includes a higher-grade oxide component above the deeper primary mineralisation. Most historic drilling within Miramar’s tenements has been too shallow to intersect this oxide mineralisation, which starts at around 55 metres below the surface. Lang Well program The company is planning to complete pegging and clearing for the first aircore drilling program at its 100%-owned Lang Well project in January, with drilling scheduled to be completed during the quarter. Kelly added: “We are also preparing to complete a first pass aircore drilling campaign at Lang Well, one of our three Murchison region projects, in the first quarter of 2021 and are planning diamond drilling and follow-up aircore drilling at Gidji, also to be completed during the first quarter. “I would like to thank our shareholders for their support of the company since listing and I am looking forward to sharing the results of our various exploration programs in 2021.” WA-focused explorer Miramar Resources is a new Western Australian-focused mineral exploration company having highly prospective Eastern Goldfields projects with potential for new gold discoveries in proximity to existing operations at Gidji JV, Glandore and Randalls. The company also has additional discovery opportunities in the Murchison and Gascoyne regions and has a track record of successful discovery, development and production within Australia, Africa, and North America. The company aims to create shareholder value through acquisition, exploration and monetisation of high-quality mineral assets.