Summary:Miramar Resources doubles its Gidji JV gold exploration target north of Kalgoorlie, expanding prospective gold strike along the Boorara Shear Zone with high-grade shallow gold intercepts....

Miramar Resources (ASX: M2R) has formally doubled the total conceptual Gidji JV gold exploration target following a full re-evaluation of multi-year aircore, RC drilling and SAM geophysical datasets at its 80% owned Gidji Joint Venture gold project in Western Australia’s Eastern Goldfields. Situated just 15km north of Kalgoorlie along the mineral-rich Boorara Shear Zone, the expanded target footprint consolidates five discrete high-priority gold corridors: Highway, Marylebone, Blackfriars, 8-Mile and Claypan. This major upgrade of the Gidji JV gold target unlocks multi-million ounce shallow and bedrock gold potential, adjacent to Northern Star’s operating Kalgoorlie processing infrastructure and the historic 8 Mile Dam gold deposit. Amid sustained robust gold pricing, the doubled target pipeline delivers a clear multi-year drill schedule to unlock near-surface high-grade gold intercepts and search for large basement orogenic gold systems.

Gidji JV Target Expansion & Core Technical Metrics

The Gidji project spans 15km of strike on the Boorara Shear Zone, a regional crustal structure hosting multiple world-class gold deposits across the Yilgarn Craton. Thick Gidji Paleochannel transported cover concealed vast swathes of prospective bedrock from early explorers, until Miramar’s systematic modern sampling and geophysics identified widespread coincident gold geochemical and conductive anomalies. Reconciliation of all historic and company-owned datasets has now doubled the total conceptual exploration target scale, creating a continuous 12km mineralised trend across the tenement package.

Table 1: Gidji JV Gold Target Pre & Post Expansion Comparison

[Table Placeholder: Table 1 – Gidji JV gold exploration target expansion comparison data]

The flagship Highway Prospect remains the project’s stand-out shallow target, where previous RC drilling returned standout high-grade hits including 3m @9.45g/t Au (including 1m @23.11g/t Au) from only 47m vertical depth. The newly expanded target boundary extends this mineralised strike to over 600 metres, with untested western extensions forming the core focus of upcoming drill campaigns.

Geological Drivers Behind Target Doubling

The expanded Gidji JV gold exploration target is underpinned by consistent regional metallogenic controls unique to the Eastern Goldfields:

1. Boorara Shear Zone Structural Control: The major NW-trending shear channelises hydrothermal gold-bearing fluids, forming stacked shallow supergene and deep bedrock mineralisation across the tenement.

2. Paleochannel Cover Masking Untested Anomalies: Thick sediment cover hid extensive geochemical gold anomalies missed by historic shallow sampling; modern SAM magnetic surveys now accurately map buried greenstone bedrock contacts.

3. Proximity to Producing Gold Deposits: The southern 8-Mile target directly abuts Northern Star’s 313koz 8 Mile Dam resource, confirming the corridor’s capacity to host large-scale economic gold accumulations.

Miramar’s geological team cross-referenced gravity, IP, SAM airborne geophysics and multi-element soil/auger geochemistry to validate each new target zone, eliminating low-confidence anomalies to ensure the doubled pipeline consists exclusively of high-priority drill-ready prospects.

Strategic Value of Doubled Gidji Gold Target

Scaling up the Gidji JV gold exploration target delivers transformative commercial and investor benefits for Miramar Resources:First, the doubled conceptual gold inventory establishes Gidji as a standalone multi-prospect gold camp, moving the asset from single-target play to a district-scale exploration portfolio, significantly lifting market valuation appeal for small-cap gold investors.Second, proximity to established Kalgoorlie crushing and leaching infrastructure eliminates the massive capital outlay required to build standalone processing facilities; any future defined gold resource can be toll-treated at nearby third-party mills, drastically lowering project development risk.Third, the expanded target pipeline supports a staggered multi-year drilling schedule, balancing near-term shallow RC testing at Highway and Marylebone with deeper bedrock exploration at 8-Mile and Claypan to chase large basement gold systems.

The company has secured drill-for-equity funding arrangements to cover a large portion of upcoming RC and aircore drilling expenditure, preserving working capital while advancing the full expanded target suite through 2026 and 2027.

Conclusion

 RC drill rig operating at Gidji gold prospect red dirt terrain | Figure 2 – Exploration rig mobilised for follow-up drilling on expanded Gidji JV gold targets]

Miramar Resources’ milestone expansion that doubles the Gidji JV gold exploration target represents a game-changing upgrade to its flagship Western Australian gold asset. By integrating years of drilling and geophysical data, the firm has defined a continuous 12km mineralised gold corridor with doubled prospective tonnage and contained ounce potential along the prolific Boorara Shear Zone. With high-grade shallow intercepts already confirmed at Highway Prospect and untapped bedrock extensions at 8-Mile, the expanded target pipeline creates a multi-year drill roadmap to unlock substantial gold resources within close proximity to Kalgoorlie’s existing mining infrastructure. Global gold market participants will closely track upcoming assay results from staged RC drilling across all five priority Gidji prospects.