Miramar Resources (ASX:M2R) reports it has upgraded the Iron Oxide Copper Gold (IOCG) mineralisation potential following further analysis of results from aircore (AC) drilling at its Whaleshark Cu-Au Project in Western Australia.
The results from the Whaleshark tenement, in conjunction with published results from research carried out at the Prominent Hill IOCG deposit in South Australia, indicate that the potential for Rare Earth Element (REE) anomalism seen at Whaleshark is related to buried IOCG mineralisation.
The Prominent Hill deposit currently boasts a Mineral Resource Estimate (MRE) of 150 million tonnes at 0.9% Copper (Cu) and 0.8g/t Gold (Au) and is considered prospective for monazite grains, a hard and relatively dense phosphate mineral that contains ‘significant’ levels of REE anomalism.
These REEs include Lanthanum (La), Cerium (Ce), Neodymium (Nd), Samarium (Sm) and Praseodymium (Pr).
Addressing the REE results, Miramar Resources’ Executive Chairman, Allan Kelly says: “The first pass interface aircore drilling at Whaleshark outlined multi-element anomalies in several elements generally associated with IOCG mineralisation, including copper and rare earths.
“The first pass interface aircore drilling at Whaleshark outlined multi-element anomalies in several elements generally associated with IOCG mineralisation…”
The scale, magnitude and suite of several elements seen at Whaleshark is similar to the large Ernest Henry IOCG deposit in Queensland and the comparison of the rare earth element data with Prominent Hill is equally as encouraging.
We are looking forward to getting back to Whaleshark next year and continuing to uncover the potential of this exciting project.”
The company also notes that samples, taken from initial aircore drillhole WSAC055, that were analysed for a multi-element suite returned high traces of La and Ce mineralisation, which correspond with low Yttrium (Y) and Thorium (Th).
It is reported these samples were gathered from a weathered and medium grained granitic unit and that this drillhole was conducted within the largest of 3 MMI soil anomalies and an interpreted West-North West (WNW)-trending structure crosscutting the granite intrusion.
This large MMI soil anomaly has not been completely drill tested at this stage of exploration.
Miramar Resources is an ASX-listed mineral exploration company that boasts a Western Australian-focused portfolio of exploration projects that have high potential for new gold discoveries within trucking distance of existing operations.
The company’s Whaleshark tenement is located about 40km east of Onslow within the state’s Ashburton region and has been explored by the company since its listing on the ASX in October 2020. The project is currently wholly owned by Miramar Resources.
With potential for IOCG mineralisation at the project now upgraded, Miramar Resources announces that future work planned at the project for 2023 includes the completion of a heritage survey over all appointed drill targets and ground electromagnetic (EM) surveys over the large MMI soil anomalies.
Images: Miramar Resources Ltd
