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Miramar Resources Limited (ASX:M2R, “Miramar” or “the Company”) is pleased to provide a summary of activities completed during the Quarter ending 30 September 2023.
Highlights
- Initial EIS co-funded diamond drilling at Whaleshark intersects copper sulphide mineralisation and IOCG pathfinders
- POW approved for drill testing at Mt Vernon Ni-Cu-PGE project
- Lithium potential identified at Randalls
- $1.7 million Capital Raising completed
During the Quarter, the Company focused on completion of the first diamond drilling campaign at the Whaleshark IOCG Project in the Ashburton region of WA.
GASCOYNE REGION PROJECTS
Miramar has two projects within the Proterozoic Capricorn Orogen of WA comprising several granted and pending Exploration Licenses.
Whaleshark IOCG Project
The Whaleshark Project is located approximately 40km east of Onslow, in the Ashburton region of Western Australia, and is characterised by a large folded Proterozoic banded iron formation and granite complex under approximately 100m of Cretaceous Carnarvon Basin sediments (Figure 2).
The Company believes there is potential for discovery of a large IOCG deposit at Whaleshark.
Figure 2. Whaleshark magnetic image showing targets in the neck of the granite.
During the Quarter, Miramar completed an initial 3-hole diamond drilling campaign that was co-funded under the WA government’s “Exploration Incentive Scheme” (EIS).
The drilling targeted a discrete gravity anomaly within the Whaleshark granite which is crosscut by a NW- trending structure and located beneath coincident MMI soil anomalism and strongly anomalous “interface” aircore results up to 435ppm Cu, 889ppm Co and 7.7g/t Ag.
WSDD001 targeted the southern part of the gravity anomaly, whilst WSDD002 and WSDD003 targeted the 4 km long NW-trending structure itself (Figure 3).
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M2R:AU
Miramar Resources
Overview
With the explosive growth of the electric vehicle market and the global push for sustainability, demand for battery metals is skyrocketing. This has created significant upside potential for exploration, particularly where copper and nickel are concerned.
Miramar Resources (ASX:M2R) intends to leverage that potential to the fullest. Led by an experienced board with a proven track record of successful exploration, discovery, development and production, the company has acquired multiple projects with the potential to host world-class mineral deposits. These discovery opportunities lie in Western Australia's Eastern Goldfields and Gascoyne regions, including the Capricorn Orogen, a rapidly emerging yet largely underexplored mineral province.
Proterozoic orogens are well-established as hosting major mineral deposits. Capricorn is no exception. It's highly prospective for multiple commodities and deposit types.
Recognizing this opportunity, Miramar has acquired two large and highly prospective landholdings within the Capricorn Orogen: the Whaleshark copper-gold project and the Bangemall nickel-copper-PGE projects. In addition to these, Miramar maintains two gold projects in the Eastern Goldfields, one of which — Gidji JV — has the potential to become a new gold camp in the region.
Miramar's strategy is simple — to create shareholder value through the discovery of world-class mineral deposits. It's well-positioned to do exactly that, with active exploration programs, a tight share register and low enterprise value.
Company Highlights
- Australian exploration company Miramar Resources is well-positioned to take advantage of the battery metals opportunity.
- The current focus on battery metals creates significant upside opportunities for exploration, particularly on copper and nickel.
- Led by an experienced board with a track record of successful discovery, development and production, Miramar has acquired multiple projects with the potential to host world-class deposits, including:
- Large, shallow copper-gold targets at Whaleshark
- Multiple nickel-copper-PGE targets at Bangemall
- Multiple strategic Eastern Goldfields projects, including one with the potential to become a new gold camp
- Miramar is an active explorer with regular news flow, a tight share register and low enterprise value.
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Aiming to create shareholder value through the discovery of world-class mineral deposits