Miramar (ASX:M2R) eyes ‘Prominent’ potential at Whaleshark
Miramar Resources researchers have likened REE signature for its Whaleshark Project in Western Australia’s Pilbara to the world-class IOCG deposit at the world-class Prominent Hill mine in South Australia.
The study concludes the chemical signature of the orebody- and clast-derived monazite grains and criteria for whole-rock geochemical data can be used to recognise the characteristic REE, Y and Th signature of hydrothermal monazite related to Prominent Hill mineralisation.
Whaleshark 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.
The Company has been exploring large folded Proterozoic banded iron formation and granite complex under approximately 100m of Cretaceous Carnarvon Basin sediment at Whaleshark since listing in October 2020.
It believes the Project has potential for IOCG mineralisation and gold mineralisation hosted in banded iron formation.
“These criteria have the potential to be used as a geochemical vectoring tool towards potential Prominent Hill-style IOCG mineralisation,” researchers added.
Price Action
The Company’s ASX-listed shares are 9c in early morning trade.
Next Steps
Planning underway for EM surveys and further drilling in 2023