Miramar Resources (ASX:M2R) is focused on finalising upcoming exploration plans at its wholly owned Whaleshark Project in Western Australia after flagging new iron opportunities.
The company says it is lining up a low-cost passive seismic survey to map the depth to the basement across the project, as well as a heritage survey covering potential drill sites.
Miramar reports further aircore (AC) drilling is being planned to map basement geology and interface geochemical anomalism.
The company has uncovered ‘large-scale’ magnetite iron opportunities at Whaleshark that demonstrate a similar-scale opportunity to the 1.5-billion-tonne Maitland River and Miaree magnetite iron deposits.
The company flagged the opportunities after re-examining historical holes completed by Western Mining Corporation in the 1990s.
Miramar states it re-examined the holes following the completion of its own diamond drilling program and flagged ‘thick’ magnetite iron intersections of more than 25% iron.
Executive Chairman Allan Kelly says the identification of 2 potentially ‘very large’ magnetite iron deposits is ‘very significant’ for the company given Whaleshark’s location with respect to existing infrastructure.
Miramar Resources is a Western Australia-focused mineral explorer actively exploring projects in the Eastern Goldfields and Gascoyne regions.
The company’s Whaleshark Project sits in the Ashburton region, about 40km east of the coastal town of Onslow.
As of 30 September 2023, Miramar Resources had $1.088 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Miramar Resources
