Miramar Resources (ASX:M2R) drilling underway at Chain Pool Copper Lead Silver Project

Miramar Resources advised auger drilling has commenced at the Chain Pool Project in the Gascoyne region of Western Australia, with work focused on the Joy Helen prospect, where historic workings contain Cu-Pb-Ag mineralisation over a strike length of approximately 300m.

The auger programme aims to outline the extent of mineralisation beneath shallow cover by testing carbonate alteration halos outlined by Miramar’s soil sampling.

Highlights

• Auger drilling is underway at the Joy Helen Cu-Pb-Ag prospect.
• Miramar has planned about 100 shallow vertical holes across 3 main alteration halos.
• Historic workings contain Cu-Pb-Ag mineralisation over approximately 300m of strike.
• Rock chip sampling in 2024 confirmed and extended the strike length of mineralisation at Joy Helen.
• Grid soil sampling identified the potential for parallel mineralised zones to the east and west as a result of folding.

According to Blockley (1971), Joy Helen contains flat dipping irregular segregations of copper, lead and zinc minerals in silicified dolomite breccia of the Middle Proterozoic Irregully Formation in 3 lodes.

The prospect was previously tested with shallow pits and shafts over a strike length of approximately 150m, with the eastern lode shaft assaying 8 feet (2.4m) at 35% Pb and 5% Cu, while the middle lode assayed 30 feet (9m) @ 5 to 10% Pb, and a chip sample from a pit on the eastern lode reportedly assayed 23.6% Pb, 0.24% Zn, 0.15% Cu and 19.28g/t Ag.

In 1964, a programme of 91 shallow vertical air blast drill holes around the old workings intersected sub horizontal copper and lead mineralisation of up to 1.6% and 13.7% respectively in silicified dolomite breccia at depths up to 35 feet.

Rock chip sampling by Miramar in 2024 confirmed and extended the strike length of mineralisation at Joy Helen, including CP001 returning 40.34g/t Ag, 3.34% Cu and 54.5% Pb, CP003 returning 73.48g/t Ag, 5.48% Cu and 42.0% Pb, and CP007 returning 59.49g/t Ag, 7.23% Cu, 26.7% Pb and 0.81g/t Au.

Miramar said it has planned about 100 shallow vertical holes across the 3 main alteration halos at Joy Helen, with drilling expected to range from 2 to 20 metres.

The programme should take about 2 weeks to complete, with samples coming back to Perth for assay. Depending on results, next steps could include aircore and/or RC drilling.

The company referenced SEDEX deposits, stating sedimentary exhalative base metal deposits include Sullivan in Canada, Cannington, George Fisher, Mount Isa and HYC in Australia, Red Dog in Alaska and Rammelsberg in Germany.

Miramar Technical Director, Mr Allan Kelly said

“Joy Helen is hosted in carbonate rocks located adjacent to a major growth fault at the edge of the Edmund Basin, while soil sampling exhibits 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 is located approximately 275km northeast of Carnarvon and consists of a single 100%-owned Exploration Licence, E08/3676, which Miramar applied for in December 2023 and was granted in August 2024.

Initial reconnaissance rock chip sampling around the Joy Helen workings in July 2024, prior to the grant of the tenement, returned several high grade Cu-Pb-Ag results. Subsequent rock chip sampling confirmed and extended the known mineralisation.

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