Miramar Resources has identified several new Iron Oxide Copper-Gold targets at its Whaleshark Project in Western Australia, supported by advanced geophysical modelling and encouraging drilling results.
- Multiple new IOCG targets identified via Magnetisation Vector Inversion modelling
- Recent diamond drilling intersected copper sulphide mineralisation and IOCG-style alteration
- Whaleshark’s shallow basement rocks offer exploration advantages over other IOCG provinces
- Project benefits from proximity to key infrastructure including highways and ports
- Further geophysical surveys and drilling planned to refine and test targets
Advanced Modelling Reveals New IOCG Targets
Miramar Resources Limited (ASX, M2R) has announced the identification of multiple new Iron Oxide Copper-Gold (IOCG) targets at its 100%-owned Whaleshark Project, located about 40 kilometres east of Onslow in Western Australia’s Ashburton region. This breakthrough comes from the application of a novel geophysical technique known as Magnetisation Vector Inversion (MVI), which offers a more accurate representation of subsurface geology by accounting for magnetic remanence effects often overlooked in traditional modelling.
Encouraging Drilling Results Support Targets
Recent diamond drilling completed in 2023 intersected copper sulphide mineralisation and IOCG-style alteration zones within structures that crosscut a granodiorite pluton beneath approximately 100 metres of sediment cover. These findings build on earlier aircore drilling in 2022 that detected strong geochemical anomalies indicative of IOCG mineralisation. The combination of geochemical, geophysical, and drilling data strengthens the prospectivity of the Whaleshark Project.
Strategic Location and Geological Advantages
One of the key advantages highlighted by Miramar’s Executive Chairman Allan Kelly is the relatively shallow depth of prospective basement rocks at Whaleshark compared to other IOCG provinces such as the Stuart Shelf in South Australia. This shallower cover potentially reduces exploration costs and complexity. Additionally, the project is favourably positioned near significant infrastructure, including the North West Coastal Highway, the Dampier-Bunbury Natural Gas Pipeline, the port at Onslow, and existing magnetite iron mining operations, which could facilitate future development.
Next Steps in Exploration
Miramar plans to continue refining and prioritising the newly identified IOCG targets through further geophysical surveys, including gravity and magnetotelluric methods, as well as infill ground surveys. Additional diamond drilling is scheduled to test these targets more thoroughly. The company remains active across other projects as well, including ongoing drilling at its Gidji Gold Project and geophysical surveys at the Bangemall Ni-Cu-PGE Project.
Technological Innovation Driving Discovery
The use of MVI modelling represents a significant advancement in exploration technology, addressing limitations of previous magnetic susceptibility models by incorporating the direction of remanent magnetisation. This approach has enabled Miramar to delineate hydrothermal alteration zones, structural features, and fluid pathways critical to IOCG deposit formation, thereby enhancing target definition and discovery potential.
Bottom Line?
Miramar’s integration of cutting-edge geophysical techniques with promising drilling results sets the stage for a potentially transformative phase at Whaleshark.
Questions in the middle?
- How will upcoming assay results from diamond drilling influence the prioritisation of IOCG targets?
- What scale of mineralisation might be expected given the shallow basement and geophysical signatures?
- Could Miramar’s approach at Whaleshark serve as a model for IOCG exploration in other regions?