Miramar Resources (ASX:M2R) said the first reverse circulation drill hole at the 8 Mile target at the Gidji JV project in Western Australia intersected high-grade gold and ended in mineralization, according to a Friday Australian bourse filing.
A limited number of fast-tracked results from the drill hole show a wide zone of gold mineralization with a similar tenor to the 8 Mile Dam deposit, the filing added.
Assays from the remainder of the hole are expected in up to three weeks.
The drilling demonstrated a relationship between induced polarization anomaly and gold mineralization at the project, the firm's Executive Chairman Allan Kelly said.
Miramar holds an 80% stake in the project.
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