Miramar Resources Ltd (ASX:M2R) chairman Allan Kelly tells Proactive the company has intersected bedrock copper sulphide mineralisation during maiden diamond drilling at the Whaleshark Project in the Ashburton region of WA, confirming the potential for iron oxide copper-gold (IOCG) mineralisation for the first time. This discovery follows the drilling of three diamond holes for 1,050 metres in a program co-funded by the Western Australian Government's Exploration Incentive Scheme (EIS) to the tune of A$180,000. The drill program targeted a discrete gravity anomaly within the Whaleshark granite, which previously returned strong 'interface' aircore results of up to 435 parts per million (ppm) copper, 889 ppm cobalt and 7.7 g/t silver.
We have now confirmed the presence of bedrock copper sulphide mineralisation at Whaleshark for the first time, indicating the mobile metal ion (MMI) and aircore anomalies have a bedrock source, Kelly said.
This is the most significant evidence of the potential for IOCG mineralisation at Whaleshark since the project was first highlighted by WMC Resources in the mid-1990s.
Given the strong relationship between copper mineralisation and iron oxides in this style of deposit, our next step will be to drill-test the other MMI, gravity and aircore anomalies associated with the banded iron formation at each end of the northwest-trending structure.
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Miramar Resources Ltd