Miramar Resources

Gold and Nickel Exploration Update

Miramar Resources Limited (ASX:M2R, “Miramar” or “the Company”) is pleased to provide an update on exploration programmes planned for its Eastern Goldfields and Gascoyne region projects.


  • Working towards maiden Bangemall Ni-Cu-Co-PGE drill campaign
  • Targets outlined for RC drill testing at Gidji JV gold project north of Kalgoorlie
  • New tenement application over 11 kilometre long aircore gold anomaly with similarities to +2Moz Invincible gold deposit
The Company is currently working toward the maiden drilling campaign within the Bangemall Ni-Cu-Co- PGE projects and has expanded its strategic 480 km2 Eastern Goldfields tenement portfolio (Figure 1).

Miramar’s Executive Chairman, Mr Allan Kelly, said the Company’s Eastern Goldfields exploration project portfolio had significant value not recognised in the current share price.

“Since listing in 2020 with a portfolio of highly prospective early-stage gold, nickel and copper projects in Western Australia, we have systematically advanced our key projects up the exploration value chain, added to our land position through strategic tenement applications and relinquished those tenements which lacked significant discovery potential,” Mr Kelly said.

“In a record gold price environment, the inherent value of our gold projects, including our flagship Gidji JV Project, where we have made multiple new gold discoveries immediately along strike from one of the richest patches of earth on the planet, is significant,” he added.

“We’ve also advanced our Bangemall Projects from the initial concept to high priority drill targets which could define a new style of nickel mineralisation in a new mineral province,” he said.

Figure 1. Miramar’s Eastern Goldfields projects in relation to existing gold mining operations.

Bangemall Ni-Cu-Co-PGE Projects

Miramar holds a strategic land position within the Edmund and Collier Basins where it is targeting nickel- copper-cobalt-PGE mineralisation related to Kulkatharra Dolerite sills, part of the Warakurna Large Igneous Province and the same age as the Giles Complex intrusions which host the large Nebo and Babel nickel-copper deposits in the West Musgraves of WA.

Miramar’s initial aim is to show “proof of concept” of its Norilsk-style deposit model by discovering Ni-Cu- Co-PGE sulphide mineralisation.

Over the previous 24 months, the Company has progressed from regional-scale area selection to collection of project-scale datasets and, more recently, to delineation of individual drill targets at the Mount Vernon and Trouble Bore Projects (Figure 2).

The Company is now working towards the first drill programme targeting this style of mineralisation within the region and has already received Programme of Work (POW) approval from the Department of Energy, Mines, industry Regulation and Safety (DMEIRS).

Upcoming work includes completion of a heritage survey, systematic rock chip sampling and/or further ground geophysics to help refine the initial RC drill targets.

Pending receipt of all relevant approvals, the Company hopes to complete the maiden drill programme during mid-2024.


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.

M2R:AU
Miramar Resources

Miramar Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Miramar Resources (ASX:M2R)

Miramar Resources


Keep reading...Show less
True North Copper

Entitlement Offer Prospectus

True North Copper Limited (ASX: TNC) has released its Prospectus announcement.
Keep reading...Show less
True North Copper

Investor Presentation

True North Copper Limited (ASX: TNC) is pleased to present its investor presentation.

Keep reading...Show less
True North Copper

Launch of Underwritten $24.3M Equity Raising

True North Copper Limited (ASX: TNC) is pleased to announce a fully underwritten $24.3 million equity raising (Equity Raising) to fund TNC through to steady state production at the Cloncurry Copper Project (including contingency, working capital, and other corporate expenses), strengthen its financial position and fund exploration to grow resources and reserves at Cloncurry and target new discoveries at its Mt Oxide Project in 2024.

Keep reading...Show less
True North Copper

True North Copper Limited (ASX: TNC) – Trading Halt

Description

The securities of True North Copper Limited (‘TNC’) will be placed in trading halt at the request of TNC, pending it releasing an announcement regarding the outcome of the institutional component of the accelerated entitlement offer. Unless ASX decides otherwise, the securities will remain in trading halt until the commencement of normal trading on Monday, 27 May 2024.

Keep reading...Show less
Iran on a map with a red push pin.

Iran Earmarks US$38 Million for Mining Infrastructure Development

The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) has allocated 19 trillion rials (around US$38 million) to develop infrastructure and electricity supply for the country's mines.

As part of the country’s initiative to capitalize on its rich mineral resources and stimulate economic growth, IMIDRO has signed 28 agreements aimed at improving the infrastructure of private mines across the country.

These projects include 21 road construction initiatives and seven electricity supply projects, all of which come after US$32 million worth of investment from IMIDRO over the last 11 months.

Keep reading...Show less

Hudbay Announces Upsize to Bought Deal Equity Offering to US$350 Million

Hudbay Minerals Inc. ("Hudbay" or the "Company") ( TSX: HBM) (NYSE: HBM) announced that the Company has agreed with the syndicate of underwriters led by RBC Capital Markets and BMO Capital Markets (collectively, the "Underwriters") to increase the size of its previously announced equity offering. The Underwriters have agreed to purchase, on a bought deal basis from the Company, a total of 36,840,000 common shares of Hudbay ("Common Shares") at a price of US$9.50 per Common Share for aggregate gross proceeds of US$349,980,000 (the "Offering").

Hudbay has also granted the Underwriters an over-allotment option (the "Over-Allotment Option") to purchase, on the same terms and conditions of the Offering, up to an additional 15% of the Common Shares issued in connection with the Offering. The Over-Allotment Option is exercisable, in whole or in part, by the Underwriters at any time until and including 30 days after closing of the Offering. The maximum gross proceeds raised under the Offering will be US$402,477,000 in the event the Over-Allotment Option is fully exercised.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Miramar Resources

Miramar Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×