Miramar completes key drilling at Gidji gold project and prepares Chain Pool campaign

Miramar Resources Limited ( (AU:M2R) ) just unveiled an update.

Miramar Resources has completed a 19-hole, 2,431-metre reverse circulation drilling program at its 80%-owned Gidji JV Gold Project, testing the high-priority Blackfriars and Highway targets near Kalgoorlie. The campaign marks the first drilling beneath large supergene gold anomalies and includes holes designed to support an initial JORC-compliant mineral resource based on Gidji’s extensive shallow gold footprint.

Management says the work is an important step towards monetising near-surface gold mineralisation given the project’s proximity to existing infrastructure and processing facilities, with assay results expected within a month. The company is now shifting operational focus to an auger drilling campaign at its Chain Pool Project in the Gascoyne, where earlier work identified high-grade copper, lead, silver and SEDEX-style alteration at the Joy Helen prospect, potentially broadening Miramar’s commodity and regional exposure.

The most recent analyst rating on (AU:M2R) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Miramar Resources Limited stock, see the AU:M2R Stock Forecast page.

More about Miramar Resources Limited

Miramar Resources Limited is an Australian mineral exploration company focused primarily on gold, with its flagship Gidji Joint Venture Gold Project located near Kalgoorlie in Western Australia. The company also explores for base metals, including copper, lead and silver, particularly at its 100%-owned Chain Pool Project in the Gascoyne region, targeting SEDEX-style mineralisation close to established mining infrastructure.

Technical Sentiment Signal: Sell

Current Market Cap: A$6.8M

For a thorough assessment of M2R stock, go to TipRanks’ Stock Analysis page.