Miramar Resources Limited (ASX:M2R) reports gravity survey results at Joy Helen copper lead silver prospect

Miramar Resources Limited has reported results from a detailed gravity survey completed at the Joy Helen prospect within the Chain Pool Project in Western Australia, identifying two residual gravity anomalies located east of historical workings and shallow high grade copper lead silver mineralisation, with the Company stating the anomalies have not been drill tested.

Highlights

• Detailed gravity survey completed at Joy Helen prospect
• Survey conducted on 50m by 50m grid
• Two residual gravity anomalies identified east of existing workings
• Anomalies not drill tested to date
• Rock chip samples near anomalies returned up to 14.7% Cu, 26.7% Pb and 67 ppm Ag
• Mineralisation reported over at least 300m
• Auger drilling results expected mid July
• Further geophysics and bedrock drilling planned

The Company reports the gravity survey was undertaken to map bedrock topography and structures, with two residual gravity anomalies identified to the east of the Joy Helen workings, and states that these anomalies have not been drill tested.

The announcement states that grab samples located near the anomalies returned copper, lead and silver results including up to 5.5% Cu, 42% Pb and 73.5 ppm Ag from one area and up to 14.7% Cu, 26.7% Pb and 67 ppm Ag from another area.

Miramar reports that interpretation of Bouguer and first vertical derivative gravity data shows two parallel northwest trending linear features interpreted by the Company as normal faults associated with rifting of the Edmund Basin, with the Company stating this interpretation differs from earlier interpretations of mineralisation direction.

The Company also reports that re interpretation of soil sampling data indicates copper and lead anomalism and carbonate alteration halos, and that potential exists for additional mineralisation west of historic workings in an area covered by recent auger drilling.

Miramar Technical Director Allan Kelly stated:

“Joy Helen is hosted in carbonate rocks located adjacent to a major growth fault at the edge of the Edmund Basin with the same zoned carbonate alteration halo with increasing base metal values towards the proximal siderite zone as seen in the typical SEDEX model.”

The Company describes Joy Helen as a copper lead silver occurrence hosted in carbonate rocks of the Edmund Basin and states mineralisation extends over at least 300m.

Miramar states it is currently awaiting results from auger drilling completed at the project, with results expected by mid July, and that following receipt of results the Company will plan further exploration including additional geophysics and a bedrock drilling campaign.

The Company notes that historical exploration in the area has included shallow drilling in the 1960s and limited rock chip sampling.

The gravity survey was completed over Exploration Licence E08/3676, which is 100% owned by Miramar Resources through its subsidiary MQ Minerals Pty Ltd.

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