Miramar Resources Limited (ASX) has disclosed promising assay results from its initial reconnaissance field trip to the newly acquired “Chain Pool” Project, situated in Western Australia’s Gascoyne region.
The standout results, focused on the “Joy Helen” prospect, highlight significant concentrations of copper, lead, and silver. Samples extracted from this area returned assays as high as 5.49% copper, 42.0% lead, and 73.48 grams per tonne silver (CP003). Additionally, another notable assay yielded 5.43% copper, 36.7% lead, 36 grams per tonne silver, and 0.27% zinc (CP002).
Miramar’s Executive Chairman, Mr. Allan Kelly, underscored the potential of the Gascoyne projects, noting they encompass various commodities and deposit types, historically under-explored until now.
“The Joy Helen Prospect, despite its known high-grade base metal mineralization, has not undergone modern systematic exploration or drilling,” Mr. Kelly remarked. “We eagerly anticipate advancing this project upon tenement approval to unlock its full potential.”
Located approximately 275 kilometers northeast of Carnarvon, the Joy Helen occurrence spans a strike length of roughly 400 meters within the Gascoyne region. Mineralization is hosted in fine-grained dolomite of the Irregully Formation, positioned towards the base of the Proterozoic Edmund Basin, with an interpreted sub-horizontal orientation. The mineralization style is likened to “Mississippi Valley Type,” reminiscent of the nearby Abra Pb-Zn-Ag deposit, also hosted within the Irregully Formation.
Despite the absence of surface exposure, the geological structure of the Joy Helen occurrence remains poorly understood, owing to the lack of outcrop. Historical data from the 1960s reported lead and copper mineralization intersected by drilling, including notable intervals such as 1.5 meters at 13.7% lead and 1.6% copper, although specific drill hole locations were not documented (WAMEX report a567).
Previous exploration efforts in the 1990s by CRA Exploration and subsequently by Quadrio Resources Pty Ltd from 2006 to 2009 provided limited rock chip samples, revealing substantial copper, lead, and silver results around the Joy Helen workings.
Miramar’s recent site visit to the Joy Helen prospect, part of a broader field trip across the Gascoyne region, involved the collection of a select number of samples showcasing various minerals such as malachite, azurite, galena, sphalerite, cerussite, and potentially barite.
The announcement coincides with Miramar’s Non-Renounceable Entitlement Offer, closing today at 5:00 pm (WST), aimed at bolstering further exploration and development initiatives across its portfolio.
Dailygoldprice provides you with live gold prices so that you can always understand the changes in the price of gold and better invest in gold.