Join our daily newsletter At The Bell to receive exclusive market insights
Miramar Resources Ltd (ASX:M2R) believes data yielded from its exploration at Mt Vernon in Western Australia shows the wider project to which it is attached – Bangemall – represents a significant new nickel-copper province.
Samples taken from reverse circulation (RC) drilling) done at Mt Vernon were subjected to mineralogical analysis of samples, with these confirming the presence of disseminated nickel (Ni) and copper (Cu) sulphides (pentlandite and chalcopyrite respectively) in numerous drill holes.
‘Micro-XRF’ analysis was first trialled on a small number of samples from the August 2024 drilling program – which had been funded by EIS (Exploration Incentive Scheme) – before systematic analysis was run on 159 samples of mafic cumulate rocks across 7 out of 9 holes drilled at the site.
This – according to Miramar executive chairman Allan Kelly – shows Bangemall to be a major province for nickel and copper, potentially hosting large mafic-hosted magmatic Ni-Cu-Co-PGE sulphide deposits.
Crucially, Miramar has first-mover status and a dominant land position, through its 100% control of granted Exploration Licences and Applications over 2,190 square kilometres of territory comprising the Bangemall Project.
“We targeted the Bangemall region on the basis of several regional-scale data sets which indicated the potential for Norilsk-style mafic intrusion hosted magmatic Ni-Cu-Co-PGE mineralisation,” Mr Kelly said.
“We now have proof that an extensive volume of mafic magma carrying nickel and copper has assimilated sulphate minerals and then undergone differentiation to produce mafic cumulate rocks containing disseminated nickel and copper sulphides.
“Now that we have proven our initial concepts, the aim is to find out where those sulphides have accumulated to form an economic mineral deposit.”
Miramar has been trading at 0.4 cents.
Join the discussion: See what HotCopper users are saying about Miramar Resources and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
-1200x645-380x200.jpg)