Miramar Resources Ltd (ASX:M2R) has demonstrated increased potential for iron-oxide copper-gold (IOCG) mineralisation at the Whaleshark Copper-Gold Project in Western Australia with an analysis of rare earth elements (REEs) within the tenure.
Independent research carried out on the Prominent Hill IOCG deposit in South Australia points to a strong relationship with a particular kind of REE chemistry and IOCG deposits.
In essence, REE anomalies with elevated lanthanum and cerium but low yttrium and thorium grades could be pathfinders for IOCG mineralisation.
Miramar’s analysis has demonstrated a close correlation between Whaleshark REEs and those studied at Prominent Hill, a comparison the company believes is very encouraging.
Whaleshark REE signatures
Miramar used samples from an aircore drilling campaign at Whaleshark to conduct multi-element analysis, including for lanthanum, cerium, yttrium and thorium – the pathfinder elements.
The company has described the results as “interesting” and “compelling”, having found the results M2R was seeking in hole WSAC055.
This hole is within the largest of the three Mobile Metal Ion (MMI) soil anomalies and an interpreted west-northwest-trending structure crosscutting the granite intrusion, which has been poorly tested to date.
Miramar Resources executive chair Allan Kelly said the company was excited about the apparent similarities between the Whaleshark Project and world-class IOCG deposits like Ernest Henry, Carrapateena and Prominent Hill.
“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,” Kelly said.
“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.”
From here, Miramar intends to:
- Complete a heritage survey over all potential drill targets;
- Undertake a ground electromagnetic (EM) survey over the large MMI soil anomalies;
- Begin bedrock diamond drilling and/or interface aircore drilling, depending on the EM results.