Multi-commodity potential: Miramar picks up a new copper and uranium play in WA

Miramar Resources applies for exploration licences over copper and uranium prospects in Gascoyne region of WA
Prospects in same rocks as Yangibana and Yin REE projects and historical copper-lead-silver mine
Tenements also prospective for uranium mineralisation

Special Report: Miramar Resources has submitted an exploration licence application over promising copper and uranium prospects in the northern Gascoyne region of WA.

The company is already on the hunt for iron oxide copper gold (IOCG) deposits at its prospective Whaleshark project in the Northern Carnarvon Basin.

This new tenement application will add more multi-commodity potential to the company’s portfolio, with the exploration licence covering the Durlacher Supersuite granite – host to Hastings Technology Metals’ (ASX:HAS) Yangibana and Dreadnought Resources’ (ASX:DRE) YIN rare earth elements (REE) deposits – and the historical high-grade Joy Helen copper-lead-silver mine. 

The ground is also along strike from Dreadnought’s Mangaroon nickel-copper-PGE prospect.

Miramar Resources’ (ASX:M2R) executive chairman Allan Kelly says the Gascoyne region provided the opportunity for the discovery of multiple commodities and deposit types.

“This new application is prospective for base metal mineralisation hosted in sediments of the Edmund Basin, uranium and/or REE mineralisation associated with the Durlacher Supersuite granitoid, and potentially also nickel-copper-PGE mineralisation associated with Mundine Well dolerite dykes.

“We look forward to progressing the tenement to grant and getting out on the ground.”

Uranium, rare earths and a historical lead-copper-silver mine

Notably, the exploration licence contains the ‘Chain Pool’ uranium occurrence.

Chain Pool was first identified as being prospective for uranium mineralisation hosted within veins within the granites, similar to Namibia’s Rössing deposit (one of the longest continually operating uranium mines in the world) in the 1970s.

Between 2009-2011, Raisama conducted limited reconnaissance rock chip sampling and RC drilling, returning 1,898ppm from what’s now known as the Chain Pool prospect.

Only two rock chip samples, approximately 1.4km apart, were ever taken within the 5km long radiometric anomaly.

Given the areal extent of the uranium anomalism, the similarities in geology to Yangibana, and the lack of any systematic sampling or drilling, M2R is confident the area remains prospective for uranium and/or REE mineralisation – and potentially nickel-copper-PGE mineralisation.

Pic: Regional geology of the Northern Gascoyne region showing location of application E08/3676. Source: M2R.

At the historical Joy Helen mine, intersections up to 1.5m at 13.7% lead and 1.6% copper have been recorded. According to WAMEX report a075044, the prospect workings include samples of 33.98% lead, 8.85% copper, and 22.95ppm silver.

No further work was completed and the prospect has not been subjected to any modern and/or systematic exploration, including drilling.

Once granted, the company intends to verify the previous sampling and design a drilling campaign to test the potential of the prospect.

 

This article was developed in collaboration with Miramar Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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