Miramar Resources Ltd (ASX:M2R) has revealed more evidence of an iron oxide copper-gold (IOCG) mineralised system at the Whaleshark Project in Western Australia with elevated basement copper, cobalt and silver and anomalous tungsten and rhenium results from drilling on the tenure.
End-of-hole samples from the company’s 2022 aircore drilling campaign were analysed for a suite of elements, including IOCG pathfinders and indications of hydrothermal alteration.
Drill hole WSAC010 returned strongly elevated copper (435.5 parts per million), cobalt (888.9 ppm) and silver (7.71 g/t), representing the highest-grade copper and cobalt results from Whaleshark to date.
Signs point to IOCG mineralisation
“At Whaleshark, we have the right aged rocks, the right style of alteration and the right combination of elements typically associated with IOCG mineralisation,” Miramar Resources executive chair Allan Kelly said.
“As we continue to explore the project, we see more similarities with the signatures of various large IOCG deposits.
“The advantage we have at Whaleshark is that the basement is much shallower than in other IOCG provinces such as the Gawler Craton, which makes it easier for us to explore.
“We are looking forward to getting back on the ground at Whaleshark this year and uncovering the potential of this exciting project for our shareholders.”
2023 plans
In 2023 Miramar intends to complete a heritage survey and ground-based electromagnetic (EM) surveys over potential drill targets.
From there, the company is planning to mobilise diamond and aircore drilling rigs to investigate target areas depending on the results of the EM survey.
The Whaleshark project is about 40 kilometres east of Onslow in WA and is characterised by a large, folded banded iron formation (BIF) and granite complex buried under around 100 metres of Cretaceous Carnarvon Basin sediments.