Miramar Resources (ASX:M2R) mobilises for first Chain Pool drilling since 1964

Miramar Resources is preparing to begin the first drilling campaign at its Chain Pool Project in Western Australia’s Gascoyne region since 1964, with an auger drilling team mobilising to the Joy Helen prospect following delays caused by Cyclone Narelle and recent fuel restriction issues.

The programme will test high-grade copper, lead, silver and gold mineralisation identified at Joy Helen, where historic workings extend across approximately 300m of strike and recent sampling has highlighted potential strike extensions and additional parallel mineralised zones.

Highlights

• Auger drill rig mobilising to site to conduct the first drilling at Chain Pool since 1964
• Joy Helen hosts historic high-grade Cu-Pb-Ag mineralisation over approximately 300m of strike
• Miramar’s rock chip sampling confirmed and extended the strike length of mineralisation
• Sampling identified potential strike extensions and additional parallel mineralised zones
• Chain Pool is located approximately 275km northeast of Carnarvon in Western Australia’s Gascoyne region
• The project consists of a single 100% owned exploration licence, E08/3676

The Joy Helen prospect contains historic workings with high-grade Cu-Pb-Ag mineralisation over a strike length of approximately 300m, with similarities to the high-grade Lady Loretta Sedimentary Exhalative Pb-Zn-Ag deposit in Queensland.

Rock chip sampling undertaken by the company confirmed and extended the strike length of high-grade mineralisation, returning results including 40.34g/t Ag, 3.34% Cu and 54.5% Pb from CP001, 36.16g/t Ag, 5.42% Cu and 36.7% Pb from CP002, 73.48g/t Ag, 5.48% Cu and 42.0% Pb from CP003, and 59.49g/t Ag, 7.23% Cu, 26.7% Pb, 65.34ppm Sb, 856ppm Zn and 0.81g/t Au from CP007.

Further rock chip sampling and grid soil sampling identified the potential for a further extension to the historic mineralisation along strike and the potential for additional parallel mineralised zones to the east and west as a result of folding post mineralisation.

Miramar said soil sampling at Joy Helen exhibits the same zoned carbonate alteration halo seen at the Lady Loretta deposit, with increasing base metal values towards the proximal siderite zone.

Miramar Managing Director Marion Bush said the upcoming campaign marks the company’s first opportunity to drill the project since receiving approvals last year.

“It’s exciting to finally be heading back to the Chain Pool project after the delays caused by Cyclone Narelle and recent fuel restriction issues. It’s our earliest opportunity to drill at this project since we were granted drilling approval in October last year.”

Bush said the programme will follow up high-grade rock chip samples collected in 2024 and aims to outline the extent of high-grade mineralisation beneath shallow cover.

Miramar said drilling is expected to begin toward the end of this week and estimates the programme will take approximately two weeks to complete.

The company also stated that this will be the first drilling of any kind at the project since rotary air blast holes were completed in 1964, with investors set to receive further updates as the programme progresses.

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