# M2R: Gidji JV Project - Gold Drilling Update

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/m2r-gidji-jv-project-gold-drilling-update--d0fb997d-e98e-46e5-96e7-adac8e641963

Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03151171

Publisher: asx

Original announcement: 2026-10-12T01:23:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: 2026-10-12T02:11:23.972Z

Atlas analysis updated: 2026-10-12T02:11:23.972Z

- Company: Miramar Resources Limited

- Ticker: M2R

- Exchange: ASX

- Region: Western Australia

- Primary commodity: Gold

- Secondary commodities: Tellurium, Arsenic

- Document categories: Other, Resource update

- Extracted: 2026-10-12 02:11:24 UTC

Narrative sentiment: 0.40 · Bullish

## Minestarters Atlas summary

Miramar Resources is preparing to commence RC bedrock drilling at the Gidji JV Project to test high-priority targets at Marylebone and Lake. The company also plans infill and extensional drilling to upgrade existing Inferred Resources at the Highway and Marylebone deposits.

Reasoning: The document is a drilling update announcing upcoming programs and planning rather than reporting new assay results. It also restates the maiden resource figures from August 2026.

- Positive factor: upcoming drilling campaign to test bedrock targets

- Positive factor: planned infill/extensional drilling to upgrade existing resources

- Positive factor: identification of pathfinder elements like Tellurium and Arsenic

- Negative factor: no new assay results reported in this update

Facts used in scoring: 1

## Classification and evidence

**Infill Drilling**

Polarity: neutral

Story-specific tag

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: The company plans to conduct infill and extensional drilling at the Highway and Marylebone deposits.

Evidence · text

> The Company plans to conduct infill and extensional drilling at the Highway \(Figure 2\) and Marylebone Deposits \(Figure 3\) Resources.

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: The announcement discusses plans to upgrade and extend existing Inferred Resources.

Evidence · text

> Resource infill/extensional drilling planned for Highway and Marylebone deposits

## Extracted facts

Stored fact records: 1. Some facts used in scoring do not have a stored record.

## Resource Estimates (1)

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/m2r-gidji-jv-project-gold-drilling-update--d0fb997d-e98e-46e5-96e7-adac8e641963#fact-resource-facts-0)

Gidji JV Project · gold

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Gidji JV Project
- Commodity: gold
- Region: australia\_wa
- Reported Region: Western Australia
- Ticker: M2R

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- Resource group id: resource:1d108a1c7dfa0a2193eb

#### Resource Data

- Category: inferred
- Tonnes: 1040000
- Grade: 1.2
- Grade Unit: g/t
- Contained Metal: 39764
- Contained Unit: oz
- Cutoff Grade: 0.2
- Cutoff Unit: g/t Au

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2026-08-20T00:00:00.000Z

#### Dates

- Event date: 2026-10-12T00:00:00.000Z

Reasoning: Restatement of the maiden Inferred resource announced in August 2026.

- Positive factor: maiden resource established

- Negative factor: historical data

Evidence · text

> In August 2026, the Company announced a maiden shallow Inferred Mineral Resource Estimate at Gidji totalling 1.04Mt @ 1.20g/t Au for 39,764 ounces \(above a 0.2g/t Au cutoff\)

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**JORC Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: reporting\_standards includes jorc

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.