Miramar Resources granted new WA tenement that includes Whaleshark Gold Project

Miramar Resources Ltd (ASX:M2R) has been granted exploration licence E08/3166, which includes the highly prospective Whaleshark Gold Project near Onslow in Western Australia. The project, characterised by a large folded Banded Iron Formation (BIF) complex intruded by granite and buried under around 100 metres of sediments of the northern Carnarvon Basin, was targeted by WMC Resources Ltd for IOCG mineralisation in 1994. Spectrum Metals Limited then acquired the project in 2017 and completed a limited moving loop ground EM survey over the main Whaleshark magnetic anomalies. Follow-up EM and other work was planned, but not completed due to a change in Spectrum’s priorities. Proposed work program Miramar believes the project has unrealised potential for the discovery of BIF-hosted gold and/or IOCG mineralisation and has identified a number of key targets including the apparent 'pressure shadow' to the southwest of the granite intrusion. The company plans to conduct grid surface geochemical sampling using partial or selective leach analysis and, given the apparent relationship between the gold mineralisation and sulphides, examine possible options for further ground EM surveys. Miramar will also look at the potential to conduct further gravity surveys to assist in the identification of potential IOCG targets.