Joy for M2R as it secures tenement grant for copper-lead-silver prospect

Exploration tenement E08/3676 over the Joy Helen prospect has been granted
Joy Helen has over 700m of strike identified so far
Miramar believes the Chain Pool project is prospective for multiple other styles of mineralisation as well as copper, lead and silver

Special report: Miramar Resources has now received the grant of exploration over the high-grade Joy Helen prospect on the Chain Pool project, setting the scene for drilling activities to begin.

Miramar Resources’ (ASX:M2R) Chain Pool project, 275km northeast of Carnarvon, straddles the boundary between WA’s Gascoyne province and the Edmund Basin.

The western half of the tenement covers a granitoid intrusion of the Durlacher Supersuite, which is the same unit that hosts the Yangibana and Yin rare earths deposits, while the eastern covers sediments of the Edmund Basin intruded by 1465Ma dolerite sills.

Joy Helen, a copper-lead-zinc-silver occurrence, resides on the eastern half of Chain Pool and has been identified over 700m of strike, including 400m outside the Barlee nature reserve.

The granted E08/3676 exploration licence. Pic via M2R

Boots on the ground exploration to kick off

M2R executive chairman Allan Kelly said the company is looking forward to getting boots on the ground and start exploring the project, which recently returned high-grade results from rock chip samples including:

49% copper, 42% lead and 73.48 g/t silver; and
43% copper, 36.7% lead, 36 g/t silver and 0.27% zinc.

“There are several later dolerite dykes cross-cutting the project which are the same unit that hosts the Mangaroon Ni-Cu-PGE prospect further south,” Kelly said.

“The Chain Pool project is dominated by a Durlacher Supersuite granite but as well as the copper, lead and silver seen at Joy Helen it is also prospective for multiple other styles of mineralisation.”

What else is happening?

M2R is currently focussed on completing maiden drilling at the Mount Vernon and Trouble Bore projects, part of Miramar’s 100%-owned Bangemall portfolio – also in the Gascoyne.

Drilling is about 50% complete.

An IP survey over the ‘8 Mile’ target within the Gidji JV gold asset, 15km north of Kalgoorlie, has also recently been completed.

The aim of the survey is to refine a potential northern offset to gold major Northern Star Resources’ (ASX:NST) 313,000oz 8 Mile Dam deposit immediately south of the Gidji JV project boundary.

Geophysical contractor Khumsup Geophysics completed the survey, and the data is currently being modelled by Core Geophysics.

Once the data has been received by M2R, the company will make plans to test the target with RC and/or diamond drilling.

This article was developed in collaboration with Miramar Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.