Miramar Resources Unveils High-Grade Copper-Lead-Silver at Chain Pool

High-Grade Mineralisation Extends Beyond Historic Workings

Miramar Resources Limited (ASX:M2R) has unveiled compelling new high-grade copper-lead-silver results from rock chip sampling at its Joy Helen prospect, part of the 100%-owned Chain Pool Project in Western Australia’s Gascoyne region. The samples, collected during a recent auger drilling campaign, include standout grades such as 6.72% copper and 47.8% lead, alongside notable silver concentrations, confirming the area’s reputation as a rich base metal target.

Crucially, samples MR0012 and MR0013 were taken nearly 200 metres east of the known historic workings, near a basin-margin fault identified in a recent detailed gravity survey. The elevated barium levels in MR0013 hint at a geochemical halo typical of large Sedimentary Exhalative (SEDEX) deposits, suggesting mineralisation may extend well beyond previously mapped zones.

Geophysical Data Supports Complex Structural Setting

The company’s gravity survey has highlighted multiple basin-margin faults around Joy Helen, drawing analogies to the Mount Isa SEDEX system where gravity anomalies correspond to mineralisation and alteration zones. The strongest gravity highs coincide with surface silicified dolomite, an alteration signature often associated with zinc, lead, and silver mineralisation. These geophysical insights reinforce the prospect’s potential scale and complexity.

Miramar’s Managing Director Marion Bush emphasised the project’s ingredients for hosting a large base metal deposit, noting the promising combination of geological age, structural setting, and high-grade mineralisation. She stressed the significance of the new rock chip results alongside the gravity data, which together suggest the Chain Pool opportunity could be considerably larger than historical workings imply.

Awaiting Auger Drilling Results and Planning Next Steps

The company is currently awaiting assay results from the recent auger drilling program, expected by mid-July. These results will inform upcoming exploration activities, including a passive seismic HVSR survey designed to map basement topography and fault structures more precisely. Miramar is also preparing for its first dedicated bedrock drilling campaign at Chain Pool, aiming to test the deeper mineralisation targets indicated by surface sampling and geophysical anomalies.

Gidji JV Gold Project Under Review

Meanwhile, Miramar is reviewing extensive drilling data from its Gidji JV Gold Project near Kalgoorlie. The focus is on assessing the potential for shallow gold resources that could be developed adjacent to the Goldfields Highway. This review, led by a resource geologist, could lead to applications for mining leases and further development steps pending positive outcomes.

The Chain Pool Project’s geological setting is notable for hosting multiple mineralisation styles, including SEDEX copper-lead-silver, Mississippi Valley Type lead-zinc-silver, and potential magmatic Ni-Cu-Co-PGE sulphides in nearby dolerite dykes. Miramar’s ongoing work aims to unlock this multi-faceted potential through systematic exploration and drilling.