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Miramar Resources reports up to 5.48% copper at new Chain Pool project in the Gascoyne
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Historical uranium project picked up late last year
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Company confident of prospectivity for copper-lead-zinc-silver mineralisation
Special Report: Miramar Resources has reported up to 5.48% copper, 54.5% lead and 73.48g/t silver from the initial sampling program at its new Chain Pool project in the Gascoyne of WA.
The company picked up Chain Pool late last year, a historical uranium occurrence first identified in the 1970’s as similar to Namibia’s Rössing deposit (one of the longest continually operating uranium mines in the world).
Miramar Resources (ASX:M2R) reckons the area remains prospective for various commodities and deposit types including uranium and/or REE mineralisation – and potentially nickel-copper-PGE mineralisation.
And that theory is proving correct, with results from sampling completed during an initial reconnaissance field trip to the new project’s Joy Helen prospect including:
- 5.49% copper, 42.0% lead and 73.48g/t silver; and
- 5.43% copper, 36.7% lead, 36g/t silver and 0.27% zinc.
The Joy Helen prospect contains historic workings and costeans over a strike length of around 400m, but hasn’t had any modern and/or systematic exploration.
Joy Helen under-explored
M2R executive chairman Allan Kelly said the company’s Gascoyne region projects had potential for various commodities and deposit types but have been under-explored previously.
“For example, there has not been any modern and/or systematic exploration or drilling at the Joy Helen Prospect despite the presence of high-grade base metal mineralisation,” he said.
“We look forward to getting this tenement granted and uncovering the potential of the project.”
Once the Exploration Licence, E08/3676, over Joy Helen is granted, the company will conduct systematic rock chip sampling and a grid soil survey to determine the potential strike extent of the mineralisation under cover.
Maiden drilling at other Gascoyne projects
In the meantime, the company is currently focussed on preparing for the maiden drilling program at the Mount Vernon and Trouble Bore projects, part of its Bangemall nickel-copper-cobalt-platinum group elements project portfolio in the Gascoyne.
Miramar staff have recently been on site at Mount Vernon and Trouble Bore to arrange site preparation in anticipation of commencing drilling within the current quarter.
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.
Originally published as Miramar Resources spots 5.48% copper, 54.5% lead, 73.48g/t silver at new Gascoyne project