Miramar Advances Chain Pool Targets with Auger Copper-Lead Results

Auger Drilling Boosts Joy Helen Prospects

Miramar Resources Limited (ASX:M2R) has upgraded its bedrock drill targets at the Joy Helen copper-lead-silver prospect within the 100%-owned Chain Pool Project, following a comprehensive auger drilling campaign. The results, which include copper values up to 0.1% and lead up to 0.8%, align closely with gravity survey anomalies, sharpening the focus for upcoming deeper drilling.

The Joy Helen prospect, situated in Western Australia's Gascoyne region, exhibits characteristics akin to Sedimentary Exhalative (SEDEX) deposits, a globally significant style of base metal mineralisation. Miramar’s Managing Director Marion Bush highlighted the combination of geological age, structural setting, and direct mineral evidence as compelling reasons to pursue further exploration.

Alteration Halos and New Targets Expand Opportunity

Auger traverses, comprising 116 holes averaging 4 metres in depth, identified coincident copper and lead anomalism adjacent to key gravity anomalies. Notably, a silicified dolomite zone overlying a major gravity anomaly; impenetrable to auger drilling; has emerged as a prime target for reverse circulation (RC) or diamond drilling.

Geochemical indices derived from the auger data reveal extensive alteration halos extending northeast of the known mineralisation, potentially guiding the discovery of additional high-grade zones. Adding to the project’s prospectivity, Miramar has pinpointed a fresh target approximately 4 kilometres northwest of Joy Helen, featuring surface silicified dolomite but lacking prior sampling, which the company plans to investigate through rock chip sampling, soil sampling, and passive seismic surveys.

SEDEX Deposit Model Underpins Exploration Strategy

Technical Director Allan Kelly explained that Joy Helen’s geological setting adjacent to a major growth fault and its zoned carbonate alteration halo closely mirror typical SEDEX deposit models, such as the Lady Loretta deposit in Queensland. The observed secondary copper mineralisation near surface, with lead and zinc mineralisation potentially deeper or more distal, fits established zonation patterns in these deposits.

This alignment with SEDEX characteristics, combined with limited prior drilling and geophysical work, suggests the current mineralisation may represent only the upper expression of a larger system. The presence of a buried intrusion indicated by magnetic and gravity anomalies could have provided the heat and fluids necessary for mineral deposition.

Next Steps and Broader Project Update

Miramar is advancing plans for a passive seismic HVSR survey to refine basement topography and fault mapping ahead of its first dedicated bedrock drilling campaign at Joy Helen. Concurrently, the company is reviewing drilling data from its Gidji JV gold project, aiming to define shallow gold resources and progress towards mining lease applications.

With Chain Pool’s tenement granted in August 2024 and initial rock chip sampling confirming high-grade copper-lead-silver mineralisation, these latest auger results provide a timely upgrade to drill targets that could unlock significant value if deeper drilling confirms the scale and grade of the deposit.