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Miramar Resources Limited (ASX:M2R, “Miramar” or “the Company”) advises it has identified potential for lithium-bearing pegmatites at the Company’s 100%-owned Randalls Project (“Randalls” or “the Project”), located approximately 70km east of Kalgoorlie in the Eastern Goldfields of WA.
- Comparable geological setting to the Bald Hill and New Dawn Lithium Projects
- No previous exploration for lithium within Randall Project tenements
- New applications consolidate land position over prospective geology
The Randalls Project is located on the northeastern margin of the “Randall Dome”, a folded sequence of black shales, banded iron formation (BIF) and other sediments of the Mt Belches Formation, underlain by a central granitoid core (Figure 1).
According to the Geological Survey of WA, the Randall Dome was formed by the combination of granite emplacement and east-west compression resulting in a doubly-plunging anticline with a NNW-SSE- trending central axis (Figure 2).
As such, Miramar’s tenements are diagonally opposite and in a similar stratigraphic position to several significant lithium-bearing pegmatites on the southwestern margin of the Randall Dome including:
- Bald Hill – the subject of a takeover by Mineral Resources Ltd (ASX Release 4 Sept 2023)
- New Dawn – recently purchased by Torque Metals Ltd (ASX Release, 5 Sept 2023)
- Cowan - multiple lithium-bearing pegmatite occurrences
Regional radiometric data shows significant potassium anomalism associated with these known lithium pegmatites. Similar potassium anomalism is seen within the Randalls Project tenements north of Lake Randall (Figure 3).
Pegmatites are common south of Lake Randall however a review of historical open file data reveals no evidence of exploration for lithium over the Randalls Project tenements, with previous work mostly limited to gold exploration within the folded BIF which hosts the Mt Belches gold deposits operated by Silver Lake Resources Limited.
Miramar’s Executive Chairman, Mr Allan Kelly, said that, given the strong similarities between Randalls and the Bald Hill area and the lack of previous exploration, there was significant potential for the discovery of lithium bearing pegmatites within the Company’s tenements.
“Our Randalls Project is basically a mirror image of the Bald Hill and New Dawn areas, on the other side of the Randall Dome,” Mr Kelly said.
“The regional radiometric data strongly suggests that there could be lithium bearing pegmatites hidden under thin surficial cover within our tenements but they could be easily missed even when specifically targeted,” he added.
“We are excited about the opportunity to discover lithium bearing pegmatites on our ground,” he added.
The Company will complete a soil geochemical survey over the granted tenement, E25/596, and undertake reconnaissance sampling over its existing tenement applications.
Miramar has also increased its land position over the most prospective geology by submitting applications for four new Exploration Licences.
Figure 1. Randalls Project regional geology showing lithium projects and pegmatites.
Figure 2. Interpreted geology of the Mount Belches 1:100,000 sheet (Painter and Groenewald, 2001).
For more information on Miramar Resources Limited, visit the Company’s website at www.miramarresources.com.au, follow the Company on social media (Twitter @MiramarRes and LinkedIn @Miramar Resources Ltd) or contact:
| Allan Kelly | Margie Livingston |
| Executive Chairman | Ignite Communications |
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
Overview
With the explosive growth of the electric vehicle market and the global push for sustainability, demand for battery metals is skyrocketing. This has created significant upside potential for exploration, particularly where copper and nickel are concerned.
Miramar Resources (ASX:M2R) intends to leverage that potential to the fullest. Led by an experienced board with a proven track record of successful exploration, discovery, development and production, the company has acquired multiple projects with the potential to host world-class mineral deposits. These discovery opportunities lie in Western Australia's Eastern Goldfields and Gascoyne regions, including the Capricorn Orogen, a rapidly emerging yet largely underexplored mineral province.
Proterozoic orogens are well-established as hosting major mineral deposits. Capricorn is no exception. It's highly prospective for multiple commodities and deposit types.
Recognizing this opportunity, Miramar has acquired two large and highly prospective landholdings within the Capricorn Orogen: the Whaleshark copper-gold project and the Bangemall nickel-copper-PGE projects. In addition to these, Miramar maintains two gold projects in the Eastern Goldfields, one of which — Gidji JV — has the potential to become a new gold camp in the region.
Miramar's strategy is simple — to create shareholder value through the discovery of world-class mineral deposits. It's well-positioned to do exactly that, with active exploration programs, a tight share register and low enterprise value.
Company Highlights
- Australian exploration company Miramar Resources is well-positioned to take advantage of the battery metals opportunity.
- The current focus on battery metals creates significant upside opportunities for exploration, particularly on copper and nickel.
- Led by an experienced board with a track record of successful discovery, development and production, Miramar has acquired multiple projects with the potential to host world-class deposits, including:
- Large, shallow copper-gold targets at Whaleshark
- Multiple nickel-copper-PGE targets at Bangemall
- Multiple strategic Eastern Goldfields projects, including one with the potential to become a new gold camp
- Miramar is an active explorer with regular news flow, a tight share register and low enterprise value.
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Aiming to create shareholder value through the discovery of world-class mineral deposits