Miramar (ASX:M2R) boosts the IOCG odds at Whaleshark
February 14, 2023Miramar Resources’ latest results from deep aircore drilling samples have shown increased potential hosting iron oxide copper gold (IOCG) mineralisation from its 100%-owned Whaleshark Project near Onslow in Western Australia’s Pilbara.
Miramar believes Whaleshark could be a large IOCG deposit based on strongly elevated copper (435.5ppm), cobalt (888.9ppm), silver (7.71g/t) along with anomalous tungsten and rhenium.
Miramar Executive Chairman Mr Allan Kelly said drilling intersections on the northern edge of the 500m x 750m anomaly display ‘Ernest Henry-like’ signatures.
“At Whaleshark, we have the right aged rocks, the right style of alteration and the right combination of elements typically associated with IOCG mineralisation,” Mr Kelly said.
“As we continue to explore the project, we see more similarities with the signatures of various large IOCG deposits,” he added.
“The advantage we have at Whaleshark is that the basement is much shallower than in other IOCGprovinces 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.”
Whaleshark aircore drilling showing EOH copper results over 1VD gravity image.
Price Action
Balkan Mining (ASX:M2R) shares are 7.3c in today’s early morning trading.
Next Steps
- Completion of a heritage survey and ground EM surveys over potential drill targets
- Bedrock diamond drilling and interface aircore drilling, depending on the results of the EM survey
About Miramar Resources
Miramar Resources Limited engages in the exploration and evaluation of mining tenements in Australia. The company primarily explores gold, nickel, copper, and platinum group element deposits. It holds interests in three underexplored gold projects, including the Gidji JV, Glandore, and Randalls located within the Eastern Goldfields region near Kalgoorlie in Western Australia; two projects covering under-explored greenstone belts, such as the Lang Well and Lakeside in Murchison region; and two projects comprising the Whaleshark and Bangemall in Gascoyne region in Western Australia. The company was incorporated in 2019 and is based in South Perth, Australia.
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