Miramar Resouces

Large-Scale Magnetite Iron Opportunities Identified at Whaleshark

Miramar Resources Limited (ASX:M2R, “Miramar” or “the Company”) advises that a review of historical drilling data has revealed potentially very significant magnetite iron opportunities at the Company’s 100%- owned Whaleshark Project in the Ashburton Region of WA (Figure 1).


  • Thick magnetite iron intersections >25% Fe identified in historic drill holes
  • Similar scale opportunity to the Maitland River/Miaree magnetite iron deposits

Drilling conducted at Whaleshark by Western Mining Corporation (WMC) in the 1990’s, whilst exploring for iron oxide copper-gold, intersected significant widths of magnetite-rich banded iron formation averaging >25% Fe beneath younger sediments, with several holes ending in mineralisation (Figures 2 and 3). Miramar recently re-examined those holes, following completion of its own diamond drilling campaign.

Miramar’s Executive Chairman, Mr Allan Kelly, said the magnetic anomalies seen at Whaleshark are similar in scale to the 1.5 billion tonne Maitland River and Miaree magnetite iron deposits1.

“The recognition of two potentially very large magnetite iron deposits is very significant for Miramar, especially given the location of the Whaleshark Project with respect to existing infrastructure,” he added.

Figure 1. Regional magnetic image showing Whaleshark Project in relation to the Maitland River and Miaree magnetite iron deposits.

Figure 2. Magnetic image of Whaleshark Project showing magnetite iron targets.

Figure 3. Magnetic image (RTP/2VD) of Whaleshark magnetite target showing historic drilling results.

A larger and virtually untested magnetite target is observed on the southern side of the granodiorite pluton.

Drill testing of the second magnetic anomaly is limited, with only a handful of historic RC holes that were not assayed for iron, and recent aircore holes completed by Miramar in 2022 that ended in 18-32% Fe.

In general, the basement is significantly shallower within this target, with average cover thickness in the order of 25-30m.


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.

M2R:AU
The Conversation (0)
Gavel on books with "5 Top Canadian Mining Stocks This Week" text overlay.

Top 5 Canadian Mining Stocks This Week: Royalties Inc. Jumps 183 Percent on Legal Win

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

Friday (June 20) was the last day for the spring session of Canada’s parliament before its summer break.

On the agenda for the day was a vote on bill C-5, “The One Canadian Economy Act,” which was introduced on June 5.

Keep reading...Show less
Cyprium Metals

Nifty Copper Project Virtual Site Visit

Cyprium Metals Limited (ASX: CYM, OTC: CYPMF) (Cyprium or the Company) invites shareholders to join an investor webinar and live Q&A hosted by Executive Chairman Matt Fifield on Tuesday 24th June 2025. Investors will be guided on a virtual site visit of the Nifty Copper Complex showcasing the sulphide and heap leach resources and extensive brownfield infrastructure.

Keep reading...Show less
Mining Execs Call for Clarity as Canada Eyes Faster Permitting Timelines for Critical Minerals Projects

Mining Execs Call for Clarity as Canada Eyes Faster Permitting Timelines for Critical Minerals Projects

Faster permitting timelines for critical minerals projects could be a welcome game changer for junior mining and resource development companies, but clarity will be key to any meaningful reforms.

This was the sentiment among executives from junior mining companies in a recent panel discussion on Bill C-5, the Canadian government’s new major projects bill that will essentially fast track permitting for “national-interest” projects, including those essential to the country's critical minerals strategy.

The bill proposes the establishment of a Major Projects Office meant to be the single permitting agency for qualified projects that will cut permitting timelines from the typical five years down to two years.

Keep reading...Show less
Sun Summit Commences 2025 Exploration Program at the JD Project, Toodoggone District, British Columbia

Sun Summit Commences 2025 Exploration Program at the JD Project, Toodoggone District, British Columbia

Sun Summit Minerals Corp. (TSXV: SMN) (OTCQB: SMREF) ("Sun Summit" or the "Company") is pleased to announce the commencement of its $6 million 2025 project-wide exploration program at the JD Project, Toodoggone Mining District, north-central British Columbia. Over 5,000 meters of drilling together with geophysical and geochemical surveys are designed to focus on target advancement, target generation and discovery.

Highlights and Next Steps:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Los Andes Copper (TSXV:LA)

Los Andes Copper


Keep reading...Show less

Latest Press Releases

Related News

×