Miramar Resources uncovers high-grade copper, lead and silver from Chain Pool

• High-grade results from further rock chip sampling at Joy Helen
• Awaiting results from recent auger drilling program
• Geophysics and bedrock drilling planned

Miramar Resources (ASX:M2R) has received further high-grade results from rock chip sampling completed at the high-grade Joy Helen copper-lead-silver prospect during the recent auger drilling campaign.

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Joy Helen is located within Miramar’s 100%-owned Chain Pool project in the Gascoyne region of WA and contains high-grade copper-lead-silver (Cu-Pb-Ag) mineralisation with similarities to sedimentary exhalative (SEDEX) deposits in Queensland and the Northern Territory.

“The Chain Pool project has all the key ingredients for the formation of a large base metal deposit, including the right age, geology and structural settings, along with evidence of high-grade Cu-Pb-Ag mineralisation at Joy Helen,” MD, Marion Bush, said.

“These new rock chip results, along with the recent detailed gravity survey, indicate that the opportunity at Chain Pool could be significantly larger than indicated by the historic workings at Joy Helen.

“We’re “keen to receive the assay results from last month’s auger drilling so we can progress our plans for further work, including our first deeper bedrock drilling campaign.”

A limited number of rock chip samples were collected during the recent auger drilling campaign. Samples MR0012 and MR0013 were collected almost 200m east of the historic workings and close to an interpreted basin- margin fault highlighted in the recent gravity survey and a copper-in-soil anomaly.

MR0013 shows relict textures like the breccia ore observed at the main Joy Helen workings, including weathered iron-carbonate nodules and contains strongly anomalous barium (Ba).

Ms Bush said that in the halos around large SEDEX deposits like Mount Isa and Abra, barium values are commonly in the 1000’s of parts per million (ppm).

“The high Ba values in the weathered samples indicates that MR0013 could represent a halo to additional SEDEX mineralisation away from the main Joy Helen workings.”

Further modelling of the detailed gravity data has highlighted multiple basin-margin faults with similarities to Mount Isa.

The company is currently waiting on the results from auger drilling recently completed at the project and has been advised by the laboratory that results are expected in mid-July.

Once all results have been received, the cvompany will finalise plans for further work program including a passive seismic HVSR survey to aid in mapping the basement topography and faulting, and the first dedicated bedrock drilling campaign at the project.

M2R was steady at 0.3¢ with a Mkt cap $6.328M.

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