Miramar Resources (ASX:M2R) has upgraded its bedrock drill targets at the Chain Pool Project in Western Australia, after auger drilling yielded results of up to 0.10% copper (Cu) and 0.84% lead (Pb) at its Joy Helen prospect.
The company completed 116 auger holes across 10 east-west traverses at Joy Helen during May.
Two holes returned coincident copper and lead anomalies of 3m @ 0.10% Cu and 0.84% Pb adjacent to residual gravity anomalies outlined by a recent survey.
Managing Director Marion Bush says Chain Pool has all the key ingredients for a large base metal deposit, including “the right age, geology, and structural settings, along with direct evidence of high-grade copper-lead-silver mineralisation at Joy Helen”.
“This auger drilling campaign was a cost effective and efficient way to further test the potential scale of the mineralisation and alteration outside the main workings at Joy Helen,” Bush says.
“These new results suggest that the opportunity at Chain Pool could be much larger than indicated by the historic Joy Helen workings.”
The company identified a central area of hard silicified dolomite directly over the gravity anomaly, representing a key target for future reverse circulation and diamond drilling.
Technical Director Allan Kelly says Joy Helen is hosted in carbonate rocks located adjacent to a major growth fault at the edge of the Edmund Basin.
“Joy Helen is hosted in carbonate rocks located adjacent to a major growth fault at the edge of the Edmund Basin with the same zoned carbonate alteration halo with increasing base metal values towards the proximal siderite zone as seen in the typical [sedimentary exhalative] model,” Kelly says.
Miramar is set to undertake further workstreams, including a passive seismic horizontal-to-vertical spectral ratio survey, reconnaissance rock chip and soil sampling, a gravity survey, and a maiden bedrock drilling campaign.
Separately, drilling data from the Gidji joint venture project is being reviewed to evaluate the potential for shallow gold resources, which could lead to a mining lease application.
Miramar Resources is Western Australia-focused explorer concentrating on gold, copper, and nickel-copper-platinum group element deposits in the Eastern Goldfields and Gascoyne regions.
Write to Paula Fabe at Mining.com.au
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