The latest results confirm the similarities between the Whaleshark Project and world-class IOCG deposits. Pic: Getty Images
Miramar’s Whaleshark Project is starting to mirror some world-class IOCG projects
Mining
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Some of the highest copper, cobalt, and silver in bedrock aircore results have been returned at the Whaleshark Project, confirming its similarity to other world-class IOCG deposits.
The project is in Western Australia’s Ashburton region, characterised by a large folded Proterozoic banded iron formation and granite complex under around 100m of Cretaceous Carnarvon Basin sediments.
Several end-of-hole samples from the 2022 aircore drilling campaign were analysed for a multi-element suite, including IOCG pathfinders and Miramar (ASX:M2R) believes there is potential for a large IOCG discovery.
Results are in
Results at the northern edge of the drill pattern intersected strongly elevated copper (435.5ppm), cobalt (888.9ppm), silver (7.71g/t) along with anomalous tungsten and rhenium.
Meanwhile, results for sodium and potassium show coherent anomalism, suggesting the presence of sodic and potassic alteration in the basement rocks, which is a key signature of significant IOCG mineralisation.
M2R says the magnitude of sodium and potassium is particularly pleasing as it is comparable to data from the Ernest Henry IOCG deposit – one of Australia’s significant IOCG deposits.
Right rocks and combination of elements
“At Whaleshark, we have the right aged rocks, the right style of alteration and the right combination of elements typically associated with IOCG mineralisation,” M2R executive chairman Allan Kelly says.
“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.”
What’s next?
Plans for 2023 include completing a heritage survey and undertaking ground EM surveys over potential targets, as well as carrying out bedrock diamond drilling and interface aircore drilling, depending on survey results.
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.
