The company’s tenements are diagonally opposite and in a similar stratigraphic position to several regional lithium-bearing pegmatites. Pic: via Getty Images.
Mining
Miramar Resources has flagged lithium-bearing pegmatite potential at its Randalls project near Kalgoorlie in WA.
The company has a portfolio of exploration projects in the Eastern Goldfields, Murchison and Gascoyne regions which are prospective for gold, Iron Oxide Copper Gold (IOCG) and nickel-copper-Platinum Group Elements (PGE).
Recent work has been focused on drilling the Whaleshark IOCG project, which intersected bedrock copper sulphide mineralisation in two diamond holes, and which the company believes could hold the potential to host a large and simple to process IOCG deposit like BHP’s (ASX:BHP) Olympic Dam.
At Miramar’s (ASX:M2R) Randalls project, the company’s tenements are diagonally opposite and in a similar stratigraphic position to several significant lithium-bearing pegmatites on the southwestern margin of the Randall Dome including:
Miramar’s executive chairman Allan Kelly said that, given the strong similarities between Randalls and the Bald Hill area and the lack of previous exploration, there was significant potential for the discovery of lithium bearing pegmatites within the company’s tenements.
“Our Randalls project is basically a mirror image of the Bald Hill and New Dawn areas, on the other side of the Randall Dome,” he said.
Regional radiometric data shows significant potassium anomalism associated with these known lithium pegmatites – and similar potassium anomalism is seen within the Randalls project tenements north of Lake Randall.
Pegmatites are common south of Lake Randall, however, a review of historical open file data reveals no evidence of exploration for lithium over the Randalls project tenements, with previous work mostly limited to gold exploration within the folded banded iron formation (BIF) which hosts the Mt Belches gold deposits operated by Silver Lake Resources (ASX:SLR).
“The regional radiometric data strongly suggests that there could be lithium bearing pegmatites hidden under thin surficial cover within our tenements but they could be easily missed even when specifically targeted,” Kelly said.
“We are excited about the opportunity to discover lithium bearing pegmatites on our ground,” he added.
The company will now complete a soil geochemical survey over the granted tenement, E25/596, and undertake reconnaissance sampling over its existing tenement applications.
Miramar has also increased its land position over the most prospective geology by submitting applications for four new exploration licences.
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.
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