Miramar Resources Limited (ASX:M2R) has provided an update on activities at the company’s exploration projects in the Ashburton and Gascoyne regions of Western Australia.
Miramar acquired its Whaleshark Project in 2020, as part of the company’s IPO, and is exploring for iron oxide copper-gold (IOCG) mineralization beneath younger sediments of the Northern Carnarvon Basin.
Since the Whaleshark tenement was granted in early 2021, Miramar has defined high-priority bedrock IOCG drill targets within the Whaleshark granite comprising a combination of:
• Mobile Metal Ion (MMI) surface geochemical anomalism
• A gravity anomaly in the “neck” of the granite crosscut by a NW-trending structure
• Strongly elevated copper, cobalt, gold and silver results in “interface” aircore drilling
• REE anomalism consistent with published data from the Prominent Hill IOCG deposit
The company has been successful in securing up to A$180,000 through the Western Australian government’s Exploration Incentive Scheme (EIS) co-funded drilling programme for the initial diamond drilling programme.
Additionally, Miramar recently completed a heritage survey over the proposed drill hole locations and has now received the final report from that survey allowing for commencement of drilling.
The company has recently signed an agreement with a drilling contractor, will complete site preparation within the next two weeks and aims to commence drilling at Whaleshark at the end of the month.
Miramar’s executive chairman, Mr Allan Kelly said, “Since commencing work at Whaleshark in mid-2021, we have defined a robust IOCG target which has been further validated by the recent successful EIS application,”
“IOCG deposits can be very large, and potentially very valuable, meaning exploration success at Whaleshark would have a very significant positive impact on our company’ valuation.” he added.
To find out more, please visit www.miramarresources.com.au
