Miramar Resources Limited (ASX: M2R) Discovery at Gidji, Glandore and Whaleshark.

Rooster Talk Episode 63 with Allan Kelly, Executive Chair of Miramar Resources Limited (ASX: M2R) is an update on Gidji, Glandore and Whaleshark.

 

Every episode I do with Allan Kelly is full of information. This episode is no different. It is insightful and clearly lays out why Miramar Resources Limited has an enormous potential.

 

The timing of this discussion cannot be more perfect. IN the last conversation with Allan, we spoke about why Gidji must be considered as a new mining camp. Imagine being only 5 minutes drive from the town of Kalgoorlie. TO top that off, it is bounded to the surrounded by Kundana, Mount Pleasant-Paddington, Kanowna Belle, Bardoc Shear to the norht and the super pit to the south (Figure 1).

 

 

 

 

Figure 1: Regional Map of the Miramar Eastern Goldfields projects. (Source: Miramar Resources Limtied)

 

Allan is not professing that he has a million once project in Gidji. However, what he can say is that the potential for Gidji is growing by the drilling program. When you look at the geological data, one have to agree with Allan's interpretation.

 

As a geologist, what I can sense is a growing level of frustration of no assays. For an exploration company, the most frustrating part is lack of money and a lack of drilling success. In the case of Miramar Resources, it appears that the funding part has been ticked. The exploration success is abundant but the lack of assays is at critical level.

 

I can see that Allan is almost drilling blind but fortunately for Miramar, the previous consistent success may be the light to follow. This is the critical conversation that is in this episode. Take time to listen to how Allan breaks down the projects and what they are doing at Gidji.

 

The Gidji potential story mirrors what Kalgoorlie was before gold was discovered.

 

The focus may have been on Gidji but the discussion then moves onto Glandore and Whaleshark. The conversation is almost fifty minutes interesting and I encourage viewers to make a nice cup of beverage and take some notes.

 

Chapters

 

00:00 Start

00:20 Introduction

01:16 Allan updates

02:22 Good results in bedrock geology.

04:27 What are the challenges from the bedrock geology?

07:09 How close is M2R vectoring to the primary source?

09:55 Raglan talks about Dolerites.

10:37 Where could the lagging results sit in the scheme of your project?

11:07 Consistent mineralisation results at the supergene level.

11:24 An important Ingredient is Competency Contrast in geology - A lesson.

12:32 Discussion on Blackfriars prospect.

13:17 Discussion on Highway prospect.

14:13 Blackfriars may be the better prospect.

15:01 Blackfriars and Highway are awaiting assays.

15:54 How is the lack of assays affecting the geological models?

17:18 Discussion on the Boorara North prospect.

19:09 Discussion on Lake prospect.

19:55 Discussion on Gidji Dam.

20:51 How much understanding does M2R have on the geology and structure?

23:51 The amazing thought that Gidji is unexplored.

25:50 The positives of Gidji.

27:06 Could 8th Mile be a "Red Herring" ?

29:41 Nickel Prospectivity?

32:25 The other Miramar projects?

32:52 Discussion on the Glandore project.

36:07 Discussion on Whaleshark project.

37:26 The model for Whaleshark - Ernest Henry

38:46 How should investors look at M2R now?

39:23 The target for Gidji.

39:59 The target for Glandore.

41:08 The target for Whaleshark.

41:44 Miramar is undervalued.

43:09 Gidji as a blank canvas.

45:04 Conclusions