Multiple EM Conductors Outlined at Mount Vernon

Miramar Resources Limited (ASX:M2R, “Miramar” or “the Company”) is pleased to advise that the electromagnetic survey currently underway at the Mount Vernon Project, in the Gascoyne region of WA, has identified multiple strong conductors indicating the potential for nickel-copper sulphide mineralisation.

• Multiple ground EM conductors identified at Mount Vernon
• Miramar has dominant land position in a potential new Ni-Cu-PGE province

A fixed loop electromagnetic (FLTEM) survey is currently underway within the Mount Vernon and Trouble Bore project areas which aims to refine EM anomalies outlined by previous airborne surveys (Figure 1).

The FLTEM survey at Mount Vernon has identified multiple late-time conductors at the first two targets tested to date (Figure 2) with modelling of the data suggesting south dipping conductive plates near the base of the dolerite sill where nickel-copper sulphides may have accumulated.

Target A shows three large south-dipping plates with moderate conductances of approximately 600 Siemens (Figure 3 and Table 1), whilst Target B shows five large south-dipping plates with conductances ranging from 250 up to 1200 Siemens (Figure 4).

There is no previous drilling in the vicinity of either target and all plates are interpreted to be within 70m of surface, i.e. within reach of RC drilling.

Aside from the new EM data, evidence that the dolerite sill targeted at Mount Vernon has undergone differentiation, and could therefore host Ni-Cu-PGE sulphide mineralisation, includes the following:

• Variation in grain size from very fine-grained chill margins at the extremities to coarse-grained gabbro in the centre of the sill.
• Increasing magnesium oxide (MgO) contents towards the bottom of the sill
• Nickel-Chromium-Titanium (Ni-Cr-Ti) ratios suggesting the presence of mafic cumulate rocks

Miramar’s Executive Chairman, Mr Allan Kelly, said the Bangemall Project had the potential for a style of Ni-Cu-PGE mineralisation not previously seen in WA, and similar to the giant Norilsk nickel-copper deposits in Siberia.

“We are the first company to explore for this style of deposit in the Bangemall region,” he said.

“At Mount Vernon, we identified multiple anomalies from our airborne EM survey and now, the first targeted ground EM surveys have confirmed and refined those large anomalies, any one of which could represent an accumulation of nickel-copper sulphide mineralisation,” he said.

“This is the tip of the iceberg for the Bangemall region, with the next step involving the first targeted drilling of the best airborne and/or ground EM anomalies,” he said.

“We are very excited about the Project as, if we can show proof of concept of the Norilsk-style deposit model at Mount Vernon and/or Trouble Bore, it opens up the entire Bangemall region as a new nickel- copper province, one where we have built a dominant landholding,” he added.

Figure 1. Mount Vernon and Trouble Bore showing airborne EM anomalies and planned ground EM.

Figure 2. Mount Vernon Project showing FLTEM conductors over magnetic image (TMI-RTP).

Figure 3. Target A (Vernon Gap) cross section showing conductive plates in relation to dolerite sill.

Figure 4. Target B cross section showing conductive plates in relation to dolerite sills.

Table 1. Mount Vernon FLTEM conductive plates.

Rock Chip Sampling

During the previous Quarter, the Company conducted a reconnaissance site visit in preparation for the current EM surveys.

As part of the site visit, field crews collected a total of 51 rock chip samples from various locations across the Mount Vernon Project.

All but one sample, MV031, was of material taken from outcropping dolerite sills.

As discussed in the ASX Announcement on 2 January 2024, and in the Quarterly Activities Report on 25 January 2024, several of the samples contained coarse-grained pyrite, in some cases up to 10%, both in the fine-grained chill margin and in coarser gabbro in the centre of the dolerite sill (Figure 5 and Table 2).

Note: Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations.

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.