Overview of Miramar Resources Ltd's latest announcement

Miramar Resources Limited (ASX: $M2R) has announced the potential extension to the 8 Mile Dam gold deposit at its Gidji JV Project. The Induced Polarisation (IP) surveys have identified a chargeability anomaly offset from the northern end of the 8 Mile Dam gold deposit, indicating the possibility of an extension to the deposit. The Company's Executive Chairman, Mr Allan Kelly, expressed optimism about the findings and highlighted the significance of the multiple aircore end of hole (EOH) gold results above the IP anomalies.

Executive commentary on the IP survey findings

The new IP anomaly, as indicated by the survey, suggests the potential for the 8 Mile Dam deposit to extend further north, albeit being offset by faulting, including at the tenement boundary. The correlation between multiple aircore holes ending in elevated gold over the IP anomalies strengthens this theory. Additionally, the shallower depth of the northern part of the IP anomaly is an encouraging observation. We are looking forward to drill testing this high priority target later in the year.

Summary of Miramar Resources Ltd's announcement and future plans

Miramar Resources Ltd's IP survey has outlined a chargeability anomaly offset from the 8 Mile Dam gold deposit, indicating the potential extension of the deposit. The Company plans to conduct drill testing at the 8-Mile target after the completion of its maiden Bangemall Ni-Cu-Co-PGE drilling campaign. Miramar's Gidji JV Project, located in Western Australia's Eastern Goldfields Gold Province, has shown strong potential for the discovery of a new gold camp, with multiple gold deposits. The Company aims to create shareholder value through the discovery of high-quality mineral deposits and is currently preparing for the maiden drilling programme at its Mount Vernon and Trouble Bore Projects in the Gascoyne region of WA.