Miramar Resources (ASX:M2R) launched a share purchase plan to offer new shares to raise up to AU$1 million, according to a Wednesday filing with the Australian bourse.

The company is offering eligible shareholders registered as of July 22 the opportunity to apply for new shares under the SPP worth up to AU$30,000, the filing said.

Proceeds will be used to accelerate drilling at the 8 Mile gold prospect within the company's 80%-owned Gidji joint venture project, per the filing.