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Miramar Resources Limited (ASX: M2R) Discovery at Gidji, Glandore and Whaleshark.

Rooster Talk Episode 63 with Allan Kelly, Executive Chair of Miramar Resources Limited (ASX: M2R) is an update on Gidji, Glandore and Whaleshark.

Every episode I do with Allan Kelly is full of information. This episode is no different. It is insightful and clearly lays out why Miramar Resources Limited has an enormous potential.

The timing of this discussion cannot be more perfect. In the last conversation with Allan, we spoke about why Gidji must be considered as a new mining camp. Imagine being only 5 minutes drive from the town of Kalgoorlie. To top that off, it is bounded to the surroundings by Kundana, Mount Pleasant-Paddington, Kanowna Belle, Bardoc Shear to the north and the super pit to the south (Figure 1).

Regional Map of the Miramar Eastern Goldfields projects. (Source: Miramar Resources Limited) | Samso Rooster Talk 63

Figure 1: Regional Map of the Miramar Eastern Goldfields projects. (Source: Miramar Resources Limited)

Allan is not professing that he has a million ounce project in Gidji. However, what he can say is that the potential for Gidji is growing, going by the drilling program. When you look at the geological data, one has to agree with Allan's interpretation.

As a geologist, what I can sense is a growing level of frustration of no assays. For an exploration company, the most frustrating part is lack of money and a lack of drilling success. In the case of Miramar Resources, it appears that the funding part has been ticked. The exploration success is abundant but the lack of assays is at critical level.

I can see that Allan is almost drilling blind but fortunately for Miramar, the previous consistent success may be the light to follow. This is the critical conversation in today´s episode. Take time to listen to how Allan breaks down the projects, and what they are doing at Gidji.

The Gidji potential story mirrors what Kalgoorlie was before gold was discovered.

The focus may have been on Gidji but the discussion then moves onto Glandore and Whaleshark. The conversation is almost fifty minutes and packed with noteworthy insights. I encourage viewers to make a nice brew and take some notes.


00:00 Start

00:20 Introduction

01:16 Allan updates.

02:22 Good results in bedrock geology.

04:27 What are the challenges from the bedrock geology?

07:09 How close is M2R vectoring to the primary source?

09:55 Raglan talks about Dolerites.

10:37 Where could the lagging results sit in the scheme of your project?

11:07 Consistent mineralisation results at the supergene level.

11:24 An important Ingredient is Competency Contrast in Geology - A Lesson.

12:32 Discussion on Blackfriars prospect.

13:17 Discussion on Highway prospect.

14:13 Blackfriars may be the better prospect.

15:01 Blackfriars and Highway are awaiting assays.

15:54 How is the lack ofcompete assays affecting the geological models?

17:18 Discussion on the Boorara North prospect.

19:09 Discussion on Lake prospect.

19:55 Discussion on Gidji Dam.

20:51 How much understanding does M2R have on the geology and structure?

23:51 The amazing thought that Gidji is unexplored.

25:50 The positives of Gidji.

27:06 Could 8th Mile be a "Red Herring" ?

29:41 Nickel Prospectivity.

32:25 The other Miramar projects.

32:52 Discussion on the Glandore project.

36:07 Discussion on Whaleshark project.

37:26 The model for Whaleshark - Ernest Henry.

38:46 How should investors look at M2R now?

39:23 The target for Gidji.

39:59 The target for Glandore.

41:08 The target for Whaleshark.

41:44 Miramar is undervalued.

43:09 Gidji as a blank canvas.

45:04 Conclusions.


About Allan Kelly

Executive Chairman

Mr. Kelly is a geologist and manager with over 25 years’ experience in mineral exploration, development and production throughout Australia and the Americas.

Mr. Kelly graduated in 1994 with a Bachelor of Science (with honours) in Applied Geology from Curtin University. He has been involved in targeting early-stage exploration of gold, nickel and copper deposits in Australia, Alaska and Canada and has previously held senior exploration positions within Western Mining Corporation and Avoca Resources Limited. He has also served as an Executive Director of Riversgold Ltd and a non-executive director of Alloy Resources Ltd.

In 2009, Mr. Kelly founded Doray Minerals Limited, which listed on the ASX in early 2010. Under Mr. Kelly’s management, Doray discovered the high-grade Wilber Lode gold deposit within the Andy Well Project in the Murchison Region of Western Australia, which moved from discovery to production within three and a half years, and subsequently funded, constructed and commissioned the Deflector Gold-Copper Project within 14 months of completing the takeover of Mutiny Gold Limited in 2014.

In 2014, Mr. Kelly was awarded the Association of Mining and Exploration Companies (AMEC) ‘Prospector Award’, along with Doray’s co-founder Mr. Heath Hellewell, for the discovery of the Wilber Lode and Andy Well gold deposits.

Mr. Kelly is a Fellow and Former Councillor of the Association of Applied Geochemistry (AAG), a Member of the Australian Institute of Geoscientists (AIG) and a Member of the Institute of Brewing and Distilling (IBD).

About Miramar Resources Limited (ASX:M2R)

Miramar Resources Limited is a Western Australian focused mineral exploration company with projects in the Eastern Goldfields, the Murchison and Gascoyne regions. The portfolio of exploration projects has high potential for new gold discoveries within trucking distance of existing operations and for the discovery of nickel-copper-platinum group element (PGE) mineralisation.

Miramar aims to create shareholder value through discovery and the Board has a proven track record of successful discovery, development and production.



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. Read full Disclaimer.

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