MIRAMAR RESOURCES LIMITED

Ashburton/Gascoyne Projects Update

Miramar Resources Limited (ASX:M2R, “Miramar” or “the Company”) is pleased to provide an update on activities at the Company’s’ exploration projects in the Ashburton and Gascoyne regions of Western Australia.


  • Heritage approval received for Whaleshark EIS co-funded diamond drilling
  • Drilling contractor appointed – diamond drilling to commence at end of month
  • New tenement granted at Dooley Downs - Bangemall Ni-Cu-PGE Project
Whaleshark IOCG Project

Miramar acquired the Whaleshark Project in 2020, as part of the Company’s IPO, and is exploring for Iron- Oxide Copper-Gold (IOCG) mineralisation beneath younger sediments of the Northern Carnarvon Basin.

Since the Whaleshark tenement was granted in early 2021, Miramar has defined high-priority bedrock IOCG drill targets within the Whaleshark granite (Figures 1 and 2) comprising a combination of:

  • Mobile Metal Ion (MMI) surface geochemical anomalism
  • A gravity anomaly in the “neck” of the granite crosscut by a NW-trending structure
  • Strongly elevated copper, cobalt, gold and silver results in “interface” aircore drilling
  • REE anomalism consistent with published data from the Prominent Hill IOCG deposit

As previously advised, the Company has been successful in securing up to $180,000 through the Western Australian government’s Exploration Incentive Scheme (EIS) co-funded drilling programme for the initial diamond drilling programme.

Miramar recently completed a heritage survey over the proposed drill hole locations and has now received the final report from that survey allowing for commencement of drilling.

The Company has recently signed an agreement with a drilling contractor, will complete site preparation within the next 2 weeks and aims to commence drilling at Whaleshark at the end of the month.

Miramar’s Executive Chairman, Mr Allan Kelly, said the Company believed that Whaleshark had the potential to host a significant IOCG deposit, like Ernest Henry, Carrapateena or Prominent Hill.

“Since commencing work at Whaleshark in mid-2021, we have defined a robust IOCG target which has been further validated by the recent successful EIS application,” Mr Kelly said.

“IOCG deposits can be very large, and potentially very valuable, meaning exploration success at Whaleshark would have a very significant positive impact on our Company’ valuation,” he added.

“We are therefore very excited to commence diamond drilling at Whaleshark in the near future,” Mr Kelly said.

Figure 1. Whaleshark magnetic image showing proposed diamond drill holes (“DD…”) in relation to gravity shells and MMI anomalies (pink polygons).

Figure 2. North-south cross section (looking west) showing proposed diamond drill holes in relation to gravity inversion shells (yellow shapes) and MMI soil anomalism.

Bangemall Projects

Miramar is pleased to advise that E09/2647, part of the Dooley Downs Project, has recently been granted.

The newly granted Exploration Licence covers the contact between the older Edmund Basin and younger Collier Basin (Figure 3) and has potential for:

  • Ni-Cu-PGE mineralisation associated with Proterozoic dolerite sills.
  • Sediment hosted copper mineralisation within the Edmund Basin evident by elevated results in historic rock chip and soil samples

The Company will now compile all previous exploration data before planning the first fieldwork.

Sampling planned for the Mt Vernon Ni-Cu-PGE Project will be completed after the diamond drilling at Whaleshark.


Click here for the full ASX Release

This article includes content from Miramar Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.


The Conversation (0)
Miramar Resources (ASX:M2R)

Miramar Resources

Aiming to create shareholder value through the discovery of world-class mineral deposits

Aiming to create shareholder value through the discovery of world-class mineral deposits Keep Reading...
Gold bars and financial graphs. Text reads: "Weekly Editor's Picks."

Editor's Picks: Gold, Silver Face Bumpy Week as Prices Drop, Then Rebound

It was a bumpy week for the gold price, which dropped to the US$4,370 per ounce level midway through the period before rebounding back above US$4,500.Silver put on a similar performance, bottoming out at US$72 per ounce.Both precious metals were reacting to a complex array of dynamics, including... Keep Reading...
A gold Krugerrand coin sits atop a pile of silver coins with musical instrument engravings.

Precious Metals News: Gold, Silver and PGM Price Floors Hold Up Against Headwinds

The precious metals complex is proving resilient in the face of intensifying macroeconomic headwinds and ongoing uncertainty over the direction of the conflict in the Middle East. Prices for gold, silver, platinum and palladium fell below key psychological levels this week on the back of hawkish... Keep Reading...
Gold coins featuring a buffalo design stacked on a dark wooden surface.

Stephen Leeb: Gold Price to US$18,000? Here's How it Can Happen

Dr. Stephen Leeb of Leeb Capital Management shares his outlook for gold, explaining how the yellow metal could get to US$18,000 per ounce. "Gold's high point might not ever really be defined, because I think at the end of this period that we're in, you're going to find gold at the center of the... Keep Reading...
Brightstar Declares Final Investment Decision for Goldfields Project

Brightstar Declares Final Investment Decision for Goldfields Project

CONSTRUCTION OF 1.5MTPA LAVERTON PLANT COMMENCES – FIRST GOLD ON TRACK JUNQ’27

Brightstar Resources Limited (ASX: BTR) (Brightstar or the Company) is pleased to announce that its Board of Directors has approved the Final Investment Decision (FID) for the development of its 100% owned Goldfields Project in Western Australia. HIGHLIGHTSBoard approves Final Investment... Keep Reading...
Rick Rule, mine site.

Rick Rule: Gold, Silver, Oil, Uranium — Price Triggers, My Strategy Now

Rick Rule, proprietor at Rule Investment Media, outlines key factors affecting the resource sector today, highlighting the impact of the Iran war. He also explains what he's doing with his money right now, saying his portfolio is currently underweight when it comes to sub-$250 million market cap... Keep Reading...

Interactive Chart

Latest Press Releases

Related News