top of page
Search

Miramar Resources Hits Shallow High-Grade Gold in Gidji - Highest Grade to date

Miramar Resources Limited (ASX: M2R) has reported shallow high-grade gold mineralisation from recent reverse circulation (RC) drilling at its 80%-owned Gidji JV Gold Project, located approximately 15 kilometres north of Kalgoorlie in Western Australia.

The drilling intersected 3 metres at 9.45 g/t gold from 47 metres, including 1 metre at 23.11 g/t gold, at the Highway Prospect, marking the highest-grade result recorded at the project to date.

The RC drilling programme comprised 19 holes for a total of 2,431 metres, targeting the Blackfriars and Highway prospects beneath earlier aircore gold intersections. Several holes intersected supergene gold anomalism near the base of the Gidji Paleochannel, indicating potential bedrock sources for mineralisation within the project area.

Miramar Resources is awaiting additional assay results from the drilling campaign and has indicated that further drilling will be planned to evaluate the potential for shallow gold resources within the Highway Prospect area.


About Miramar Resources Limited

Miramar Resources Limited (ASX: M2R) is a Western Australian focused exploration company targeting gold and base metals across the Eastern Goldfields and the Gascoyne region of Western Australia. The company’s strategy is centred on exploration discovery in established mineral provinces with strong infrastructure and processing capacity nearby.

One of the Miramar Resources' s key exploration assets is the Gidji JV Gold Project, located approximately 15 km north of Kalgoorlie-Boulder, in the world-class Eastern Goldfields Province of Western Australia. The project sits along approximately 15 km of strike of the Boorara Shear Zone, a major structural corridor that hosts several gold deposits in the district.

Exploration at Gidji has focused on identifying gold mineralisation beneath transported cover and the Gidji paleochannel system, which has historically limited exploration in the area. Since commencing systematic drilling in 2020, Miramar Resources has identified multiple supergene gold discoveries through aircore drilling and has generated bedrock targets for deeper testing.

The ASX release dated 10th March details shallow high-grade gold intersections from reverse circulation (RC) drilling at the Highway Prospect, within the larger Gidji JV exploration corridor.


Miramar Resources RC Drilling Delivers Shallow High-Grade Gold at Gidji

Miramar Resources Limited has reported shallow high-grade gold mineralisation from a recent RC drilling programme at the Gidji JV Gold Project, located north of Kalgoorlie in Western Australia.

The drilling campaign intersected 3 metres at 9.45 g/t Au from 47 metres, including 1 metre at 23.11 g/t Au, in hole GJRC043 at the Highway Prospect. The intersection occurs at the contact between basal gravels of the Gidji Paleochannel and weathered diorite bedrock.

The Highway Prospect forms part of a broader gold discovery corridor identified by Miramar Resources since exploration commenced in 2020. The company is awaiting further assay results from the current RC programme and intends to undertake additional drilling to determine the scale and continuity of mineralisation.

Figure 1: Plan view of the Gidji JV Project showing drill hole locations across the Blackfriars and Highway prospects. (source: Miramar Resources Limited)

Figure 1: Plan view of the Gidji JV Project showing drill hole locations across the Blackfriars and Highway prospects. (source: Miramar Resources Limited)


Highlights

  • 3m @ 9.45 g/t Au from 47m, including 1m @ 23.11 g/t Au, intersected at the Highway Prospect.

  • Mineralisation occurs near the base of the Gidji Paleochannel and within weathered diorite bedrock.

  • The RC programme comprised 19 holes for 2,431 metres testing the Blackfriars and Highway targets.

  • Several holes intersected supergene gold anomalism at or below the base of the paleochannel.

  • Additional assay results from multiple holes remain pending.

  • Further drilling is planned to evaluate the potential for a shallow gold resource at the Highway Prospect.


Geological Context and Drilling Results

The RC drilling programme at Miramar Resources Gidji high-grade gold prospect tested targets beneath earlier aircore gold intersections across the Gidji project area. Holes were designed to test both bedrock mineralisation beneath transported cover and the supergene gold zones identified in previous exploration campaigns.

Drilling at the Highway Prospect identified an altered diorite body with abundant sulphides, positioned between more mafic units. The key high-grade intersection from hole GJRC043 occurs within this altered zone at the base of the paleochannel.

Figure 2: Cross-section through the Highway Prospect showing the high-grade mineralised zone intersected in hole GJRC043. (source: Miramar Resources Limited)

Figure 2: Cross-section through the Highway Prospect showing the high-grade mineralised zone intersected in hole GJRC043. (source: Miramar Resources Limited)


Figure 3: Chip tray from hole GJRC043 showing the high-grade interval at the boundary between paleochannel sediments and weathered diorite. (source: Miramar Resources Limited)

Figure 3: Chip tray from hole GJRC043 showing the high-grade interval at the boundary between paleochannel sediments and weathered diorite. (source: Miramar Resources Limited)


Management Commentary

Miramar Resources Managing Director Marion Bush noted that the intersection represents the best gold result recorded from the Gidji project to date and highlights the potential for shallow gold mineralisation in the area.

The company highlighted that the project is located in close proximity to multiple operating gold processing plants, which could assist with the monetisation of any potential deposit identified through ongoing exploration.

Management also stated that the company expects to receive additional assays from the drilling programme in the coming weeks and will then plan further drilling to determine the scale of the mineralisation at the Highway Prospect.


Near-term Milestones to Watch

  • Receipt of remaining assay results from the current RC drilling campaign.

  • Planning of additional drilling to test bedrock mineralisation and potential resource targets.

  • Follow-up drilling to determine the scale and continuity of mineralisation at the Highway Prospect.

  • Auger drilling programme at the Chain Pool Project in the Gascoyne region, targeting copper-lead-silver mineralisation at the Joy Helen prospect.


Previous Samso News Coverage – An Investor Lens

1. Miramar Resources – Drilling to Test High-Priority Gold and Base Metal Targets in Q1 2026 – Good Reasons to Be in This Punt

This Samso News article discusses Miramar’s plans to drill multiple exploration targets in Western Australia during Q1 2026, including gold targets at the Gidji JV Project near Kalgoorlie and base-metal targets at Chain Pool in the Gascoyne region. The program aims to test bedrock mineralisation beneath previously identified anomalies using deeper drilling techniques.


2. Miramar Resources Ltd – Bangemall Project Update

Published: December 2025 (approx. – site indicates ~3 months ago)Link: https://www.samso.com.au/post/miramar-resources-ltd-bangemall-project-update

This article reviews Miramar’s exploration strategy at the Bangemall Ni-Cu-PGE Project in Western Australia. The project sits within the Edmund and Collier Basins and hosts Kulkatharra dolerite sills that could potentially host large Norilsk-style nickel-copper-PGE sulphide deposits.


3. Miramar Resources Limited (ASX: M2R) – Sumitomo Confirms the Prospectivity of Bangemall – Looking for a Norilsk-Style Ni-Cu-PGE Deposit

This Samso News piece covers Miramar’s exploration joint venture with Sumitomo Metal Mining Oceania, which could see Sumitomo earn up to 90% interest through staged expenditure and feasibility work. The partnership aims to test the Bangemall region for large Norilsk-style nickel-copper-PGE deposits.


4. Coffee with Samso – Miramar Resources Limited (ASX:M2R) – A Perfectly Valued Gold Story – The Gidji Gold Project and the Path to Being a Gold Mining Business

This Coffee with Samso feature discusses Miramar’s exploration strategy and the potential of the Gidji Gold Project near Kalgoorlie, highlighting the geological model and the company’s ambition to discover a significant gold deposit in the Eastern Goldfields.


5. Coffee with Samso – Insights: An Insight into a Mineral Explorationist, a Practical Eternal Optimist

This Coffee with Samso Insights article profiles Allan Kelly, Executive Chair of Miramar Resources, discussing his philosophy on mineral exploration and the challenges of making economic discoveries in the mining sector.


6. Miramar Resources Limited (ASX: M2R) – Surprises in the Bangemall: Carbonatites and IOCG

This Coffee with Samso discussion explores early exploration work at Miramar’s Bangemall and Whaleshark projects in Western Australia and the geological potential of the region for new discoveries, including IOCG-style and carbonatite-related mineral systems.


7. Project Updates at Miramar Resources Limited (ASX: M2R)

This article accompanies a Coffee with Samso interview discussing Miramar’s exploration portfolio across the Eastern Goldfields, Murchison, and Gascoyne regions, including gold targets at Gidji and other exploration opportunities within trucking distance of existing operations.


8. Miramar Resources Limited (ASX: M2R) – Mineral Exploration Success – Discovery at Marylebone

This early Samso article discusses drilling results at the Marylebone prospect, where Noel Ong described the results discussed with Allan Kelly as representing a potential discovery and highlighted the broader exploration potential of Miramar’s Eastern Goldfields projects.


Samso Concluding Comments

The results from the RC drilling programme is going to hard to explain to the general public but all I can say is that it highlight the presence of shallow gold mineralisation within the Highway Prospect area at the Gidji JV Project. The intersection of 3 metres at 9.45 g/t gold will highlight two things, one is that bedrock mineralisation must be beneath the transported cover at some place that is unknown at this stage, The other is that potentially the Gidji paleochannel system or there is a supergene system here that is the prize that has not been realised.

What we know is that the geological setting of the project along the Boorara Shear Zone places the exploration target within a known structural corridor that hosts several gold deposits in the Kalgoorlie region. The drilling programme was designed to test beneath earlier aircore gold intersections and evaluate potential bedrock sources for the previously identified supergene mineralisation.

The drilling programme comprised 19 RC holes for a total of 2,431 metres, with several holes intersecting anomalous gold values greater than 0.25 g/t Au near the base of the paleochannel. On the surface, the program did not reveal any spectacular results that investors are always thinking will happen, but the reality is that the elusive "prize" is still in the unknown.

Additional assays from several drill holes are still pending and will provide further information about the distribution of gold mineralisation across the Highway and Blackfriars prospects.

Further drilling planned by the company is expected to test both lateral extensions and bedrock mineralisation beneath the paleochannel system. The objective of the next exploration phase is to evaluate the continuity of mineralisation and determine whether the Highway Prospect can support the definition of a shallow gold resource within the Gidji JV Project area.



Market Implication - The Investor Lens

There is no movement in the station in terms of the share price (Figure 4) reaction from the results but that is the reality for shareholders. What I will say as a shareholder is that money is being spent on the ground and that is all you can ask from management. with a market capitalisation of under AUD $5M, this is a great play for upside in a booming gold sector.

Figure 4: Share price chart for Miramar Resources Limited as of 12th March 2026. (source: commsec)

Figure 4: Share price chart for Miramar Resources Limited as of 12th March 2026. (source: commsec)

The best asset that Miramar Resources Limited has is the location of the Gidji project. The discovery does not need to be big and from the ASX release today on the 16th March 2026, there are funds are available for further drilling. The upside is still present at Gidji, in my opinion, and if Miramar Resources management is thinking that a supergene story may have potential, then that is good news to my ears.


The Samso Way – Seek the Research


Here at Samso, we pride ourselves on delivering content for investors that is independent and informed by over three decades of experience in the industry. Our content is well-researched and is only created if I see merit in discussing the company's story.

 

Our mission is simple: cut through the noise and spotlight what matters—genuine stories, grounded insights, and real opportunity.


Our content is well-researched and is only created if the team sees merit in discussing the company or concept. Investors can explore our three core platforms: 



There may be numerous paths to success in investing, but the common thread among successful individuals is that they remain committed to making informed decisions. Equip yourself with the right knowledge and tools, and you will be well on your way to achieving your financial goals.


Most importantly, investors need to be absolutely diligent in understanding their own risk-reward tolerance and capabilities. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall stood because it took centuries to complete.

The Samso Philosophy:

Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value.

In Life, there is no such thing as a Free Lunch.

Never bite off more than you can chew is my parting comment.

Happy Investing, and the only four-letter word you need to know is DYOR. 

To support our independent nature of our work, please head over to our Support Page and give us a helping hand in any of the ways listed. This is a new initiative for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018.


Disclaimer

The information or opinions provided herein do not constitute investment advice, an offer, or solicitation to subscribe for, purchase, or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints.



Share to Grow: Your Bonus


Samso has just released an eBook: How to Add Value to your Share Portfolio


Download eBook | Samso Insights
Download eBook

If you find this article informative and useful, please help me share the information. I try to write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation sees the benefit of what Samso is trying to achieve and has a need to share your journey, please contact me at noel.ong@samso.com.au.



Samso is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research.




Comments

bottom of page