Miramar Resources Ltd (ASX:M2R) is poised to embark on a diamond drilling program at the Whaleshark Project in the Ashburton region of Western Australia, targeting iron oxide copper-gold (IOCG) mineralisation beneath younger sediments of the Northern Carnarvon Basin.
The company has already defined several bedrock drill targets, which it intends to drill-test in July supported by $180,000 in funding from the Western Australian Government’s Exploration Incentive Scheme (EIS) co-funded drilling program.
Miramar has already completed heritage surveys over the target areas, which include a mobile metal iron (MMI) geochemical anomaly that stretches over an area of 1.2 square kilometres, a gravity anomaly cross-cut by a northwest-trending structure and a strongly elevated copper, cobalt, gold and silver result from interface aircore drilling.
Potential for large IOCG deposit
Miramar Resources executive chair Allan Kelly said that, based on the results to date, 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,” Kelly said.
“IOCG deposits are large and potentially very valuable, meaning success at Whaleshark would have a significant positive impact on our company.
“We are therefore very excited to be drill testing these highly prospective bedrock targets.”
Whaleshark magnetic image showing proposed diamond drilling in relation to gravity and MMI anomalies and aircore end-of-hole (EOH) copper results.
Miramar is in active discussions with several drilling contractors, intending to begin out the initial diamond drilling program at Whaleshark next month.
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