Miramar Resources Ltd (ASX:M2R) has outlined large copper, gold and iron anomalies indicative of a deeper iron oxide copper-gold (IOCG) mineralised body at the Whaleshark Project in the Gascoyne region of Western Australia.
Miramar's executive chair Allan Kelly said the aircore drilling results had been successful in mapping the geology of the basement rocks, as well as confirming the potential for Whaleshark to host significant IOCG mineralisation.
“The first pass aircore drilling at Whaleshark has successfully outlined large multi-element anomalies in several elements generally associated with IOCG mineralisation,” Kelly said.
“The scale, magnitude and suite of elements seen at Whaleshark is very similar to the large Ernest Henry IOCG deposit in Queensland, which is our target at Whaleshark.
“We are therefore eager to get back to Whaleshark next year and refine targets for deeper reverse circulation (RC) and/or diamond drilling,” he added.
Aircore program targeted MMI anomaly
The company’s aircore program was designed to test beneath a mobile metal ion (MMI) soil anomaly. MMI geochemistry is a proven exploration technique that is particularly well suited for deep deposits.
MMI measures metal ions that travel upward from mineralisation to unconsolidated surface materials such soil, till, sand etc.
A total of 60 holes were completed, mostly above the main MMI anomaly (target A). The program was shortened due to slow penetration rates and the discovery of potential heritage sites at the southern edge of the survey area, meaning target B remains untested at this stage.
Summary of aircore anomalism over 2VD magnetic image.
In each hole, samples were taken from 4 metres above the unconformity to the end of hole and were assayed for a multi-element suite including copper and IOCG pathfinders such as gold, silver, uranium, molybdenum and rare earth elements (REEs).
Results included:
- Copper up to 166.9 parts per million (ppm);
- Gold up to 1.164 ppm;
- Cobalt up to 146.8 ppm;
- Molybdenum up to 16.2 ppm;
- Uranium up to 18.62 ppm; and,
- Tungsten up to 335 ppm.
Miramar intends to return to Whaleshark next year to complete a comprehensive heritage survey, a moving loop electromagnetic (MLEM) survey over the MMI anomalies, and further aircore drilling, particularly at the untested target B area.