Miramar Resources (ASX:M2R) confirms SEDEX potential at Chain Pool via auger drilling

Miramar Resources has completed an initial auger drilling campaign at the Joy Helen copper-lead-silver prospect, part of its Chain Pool project in the Gascoyne region of Western Australia.

The programme was designed to test the potential scale of mineralisation, extending the known strike from 300m to a potential 700m and testing new parallel structures identified through soil sampling.

Assay results have been submitted to a Perth laboratory, with results anticipated over the next month, and follow-up geophysical surveys are planned to refine drill targeting.

Highlights:

• Auger drilling campaign completed on time and under budget, with 124 holes drilled in under two weeks .
• Joy Helen prospect contains high-grade Cu-Pb-Ag mineralisation with strike extensions and new parallel structures tested .
• Soil sampling indicates carbonate alteration halos consistent with SEDEX mineralisation .
• Planned surveys include Ground Gravity and Passive Seismic to assist in mapping basement topography and potential mineralisation .
• The Joy Helen prospect has seen no modern systematic exploration and no drilling since 1964, representing a largely unexplored opportunity .

The Joy Helen prospect displays features analogous to SEDEX deposits, including zoned carbonate alteration halos and proximity to a major growth fault at the edge of the Edmund Basin.

Secondary copper mineralisation is present while zinc is limited, consistent with proximal copper zones in SEDEX models such as Mount Isa.

The regional setting, combined with the absence of project-scale geophysics or substantial drilling, underlines its potential for discovery of a SEDEX-style deposit .

Miramar Technical Director Allan Kelly said the auger results, combined with planned geophysical surveys, will guide follow-up RC or diamond drilling.

“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,”

Chain Pool occupies a structural setting straddling the Durlacher Supersuite granite, which hosts Yangibana and YIN rare earth deposits, and the Edmund Basin, containing the high-grade Joy Helen occurrence.

The project is crosscut by later N-S trending dolerite dykes of the 750Ma Mundine Well Suite, which hosts Ni-Cu-Co-PGE sulphides further south.

Anomalous magnetic and gravity features suggest a buried intrusion, which may have supplied heat or fluids to the mineralisation at Joy Helen, where multiple mineralisation styles are recognised, including SEDEX Pb-Zn-Ag, carbonate-hosted MVT Pb-Zn, and mafic intrusion-hosted magmatic Ni-Cu-Co-PGE sulphides.

The Chain Pool auger drilling programme, combined with upcoming geophysical surveys, provides a systematic approach to evaluating SEDEX-style mineralisation, while the project’s largely unexplored status offers an opportunity to define a substantial new base metals occurrence in the Gascoyne region.

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