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Miramar Resources Limited ( (AU:M2R) ) has issued an update.
Miramar Resources has begun mobilising an auger drilling team to the Joy Helen prospect at its Chain Pool project in Western Australia, marking the first drilling on the site since 1964. The programme will test high-grade copper-lead-silver-gold mineralisation identified through historic workings and recent rock chip sampling, which suggest at least 300 metres of SEDEX-style mineralisation with potential strike extensions and parallel zones.
The initial two-week drilling campaign aims to define the extent of mineralisation beneath shallow cover and capitalise on the lack of recent systematic exploration at Chain Pool. Success could significantly enhance Miramar’s base metal portfolio by confirming a new high-grade deposit, improving the company’s exploration credentials and offering upside for investors seeking exposure to underexplored Australian base metal projects.
More about Miramar Resources Limited
Miramar Resources Limited is an Australian mineral exploration company focused on base and precious metals, including copper, lead, silver and gold. The company is advancing projects in Western Australia’s Gascoyne region, targeting sedimentary exhalative-style deposits with potential for high-grade, near-surface discoveries.
Technical Sentiment Signal: Sell
Current Market Cap: A$5.27M
Find detailed analytics on M2R stock on TipRanks’ Stock Analysis page.