Miramar Resouces

Approvals Received For Mount Vernon Drilling

Miramar Resources Limited (ASX:M2R, “Miramar” or “the Company”) is pleased to advise that it has received Programme of Work (POW) approval for drilling at the 100%-owned Mount Vernon Ni-Cu-PGE Project in the Gascoyne region of Western Australia.


The Mount Vernon Project is one of several granted or pending Exploration Licences which make up the Company’s 100% owned Bangemall Project.

The Company has received POW approval for RC and/or diamond drilling at Mount Vernon which will test Ni-Cu-PGE targets associated with Kulkatharra Dolerite sills and highlighted by historic geochemical sampling and Miramar’s 2022 airborne EM survey (Figure 1).

Miramar’s Executive Chairman, Mr Allan Kelly, said the Mount Vernon Project had several high-priority drill targets which could result in the discovery of a new style of nickel mineralisation in WA.

“Geoscience Australia and the GSWA both identified the potential for the Kulkatharra Dolerite sills to host significant Ni-Cu-PGE mineralisation such as the giant Norilsk deposits in Siberia,” Mr Kelly said.

“Despite this, very little relevant project-scale work has been completed to date,” he added.

“At Mount Vernon, our detailed magnetic and EM survey highlighted a number of highly conductive late- time EM anomalies inboard of the outcropping basal contact of a dolerite sill which has several significant historic nickel and copper results in soil and rock chip samples,” Mr Kelly said.

“The modelled plate over the highest priority target has a similar footprint to the ground EM anomaly outlined at Nova-Bollinger prior to the discovery drill hole,” he added.

Upcoming Work Programme

The Company is planning the following at Mount Vernon following completion of drilling at Whaleshark:

  • Rock chip and/or soil sampling along the basal contact
  • Orientation ground EM surveys over selected airborne EM anomalies
  • Finalising drill hole locations based on the above results

Figure 1. Mount Vernon Project showing EM anomalism in relation to the basal contact of dolerite sills

Figure 2. EM image showing modelled plates south of outcropping basal contact with elevated Ni and Cu results in historic rock chip samples.

Figure 3. EM profile showing late time EM anomaly (plate 1) south of the basal contact.

COMPETENT PERSON STATEMENT

The information in this report that relates to Exploration Targets or Exploration Results is based on information compiled by Allan Kelly, a “Competent Person” who is a Member of The Australian Institute of Geoscientists. Mr Kelly is the Executive Chairman of Miramar Resources Ltd. He is a full-time employee of Miramar Resources Ltd and holds shares and options in the company.

Mr Kelly has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity being undertaken to Qualify as a “Competent Person” as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.


Click here for the full ASX Release

This article includes content from Miramar Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

The Conversation (0)
Gold bar on top of gold nuggets.

Top 5 Canadian Mining Stocks This Week: O3 Mining Up 60 Percent on Agnico Eagle Takeover Deal

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 1.12 percent on the week to close at 607.84 on Friday (December 13). Meanwhile, the S&P/TSX Composite Index (INDEXTSI:OSPTX) posted a 1.71 percent decrease to hit 25,274.3, and the CSE Composite Index (CSE:CSECOMP) sank 2.68 percent to reach 131.45.

The US Bureau of Labor Statistics released November consumer price index (CPI) data on Wednesday (December 11).

The report shows the all-items index increased by 0.3 percent monthly, compared to the 0.2 percent recorded in each of the previous four months. Core CPI was also up 0.3 percent, steady compared to the previous three months.

Keep reading...Show less
Mine trucks at site.

Top Stories This Week: Gold Price Reacts to Inflation Data, Trump Makes Big Permitting Promise

The gold price rose early on this week, breaking US$2,700 per ounce on Wednesday (December 11).

The metal was reacting to the latest US consumer price index (CPI) data, which shows a 2.7 percent year-on-year increase for the month of November. That's up slightly from the 2.6 percent annual gain seen in October.

CPI was up 0.3 percent month-on-month, again higher than October's 0.2 percent rise. Core CPI, which excludes the more volatile food and energy categories, was up 3.3 percent year-on-year and 0.3 percent from the previous month.

Keep reading...Show less
larry lepard, gold, silver, bitcoin

Lawrence Lepard: "Big Print" Coming — Fully Expect US$5,000 Gold, US$200,000 Bitcoin

Speaking to the Investing News Network, Lawrence Lepard, managing director at EMA, voiced his thoughts on the outlook for gold and Bitcoin as the debt doom loop intensifies in the US.

"I call it a doom loop — it's a vicious circle in the wrong direction, which I believe will ultimately lead to the government having to say, 'Okay, this isn't going to work. We are going to institute yield curve control or QE, or we're going to buy the bonds,'" he explained on the sidelines of the New Orleans Investment Conference.

Lepard believes it's important to hold both gold and Bitcoin, noting that the only wrong allocation is zero.

Keep reading...Show less
Chris Temple, uranium symbol and gold bars.

Chris Temple: Gold's Next Leg Higher, Plus Uranium and Natural Gas in 2025

Chris Temple, founder, editor and publisher of the National Investor, outlined the main factors he sees impacting the gold price heading into 2025, saying the yellow metal will undoubtedly move higher.

In his view, its rise will come as market participants realize how many problems the US economy is facing.

"I think that once that reality sets in, gold will get its next big lease on life and the stock market is going to bog down. I think we're going to see a lot of rotation in the market that will start to favor real assets and real value — away from everybody chasing the same relative handful of stocks as we've seen," Temple explained.

Keep reading...Show less
Gold bars stacked in ascending order.

WGC: Gold to Face Complex Drivers in 2025, Price Likely to Cool After Record-Breaking Year

The World Gold Council (WGC) has released its 2025 gold outlook, highlighting various macroeconomic factors, geopolitical risks and central bank activity as pivotal forces influencing demand and prices.

While 2024 saw gold achieve a stellar performance with a 28 percent annual increase, the outlook for 2025 is characterized by a mix of opportunities and challenges stemming from both global and regional developments.

The yellow metal has benefited from its historical role as a hedge against uncertainty, but the WGC forecasts that its performance next year will depend on other key variables as well.

Keep reading...Show less
Brightstar Resources Managing Director Alex Rovira.

Increased M&A Activity a Win-Win for Gold Sector, Brightstar Resources Exec Says

Following the completion of its acquisition of Alto Metals, Brightstar Resources (ASX:BTR) plans to conduct 50,000 metres of reverse-circulation and diamond drilling, beginning next year, at Alto Metals' approximately 900 square kilometre Sandstone gold project in Western Australia.

In an interview with the Investing News Network, Brightstar Managing Director Alex Rovira outlined the next steps for merging Alto Metals with Brightstar’s assets and the strategy for moving forward.

“From an exploration perspective … it's really focusing on the Sandstone package. We will do near-mine brownfields exploration at our Menzies and Laverton gold projects. And really, the aspiration there is to take a number of those mines toward development decisions,” he said.

Keep reading...Show less

Latest Press Releases

Related News

×