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Miramar Resources (ASX:M2R) has launched maiden drilling for nickel copper and cobalt in WA’s north with the help of a state government Exploration Incentive Scheme (EIS) grant.
Located in the Gascoyne region, the company’s Bangemall project has won partial funding from Perth due to its focus on critical minerals nickel and cobalt.
RC drill rigs will be arriving on-site to test two prospect areas of interest: Trouble Bore and Mount Vernon respectively. Both targets were selected due to electromagnetic survey data suggesting potential underground mineralisation.
Miramar stated on Friday it’s the first company to target “Norilsk-style mafic intrusion-hosted nickel, copper, cobalt and PGE mineralisation within WA’s Capricorn Orogen.”
That’s a reference to Russia’s polar Norilsk-Talnakh Mining District. The city of Norilsk remains a closed city which foreigners must seek special permission to visit, a throwback from its Soviet era.
“The Edmund and Collier Basins are recognised by the GSWA, Geoscience Australia and the CSIRO as displaying all the key ingredients for Norilsk-style mineralisation: major deep crustal-scale structures, Warakurna-age dolerite sills and extensive sulphide and/or sulphate-rich sedimentary units,” Miramar EC Allan Kelly said.
“In addition to providing financial assistance, the EIS funding is further endorsement of the merits of Miramar’s geological model and targeting to date.
“We’ve spent the last 3 years gathering data and developing these targets, so we’re excited to be commencing our maiden drill campaign and testing our concepts.”
M2R last traded at 0.7cps.
