Strong EM Conductors Identified at Mount Vernon Ni-Cu-PGE Project

Miramar Resources Limited (ASX:M2R, “Miramar” or “the Company”) in pleased to advise that ground electromagnetic (EM) surveys have identified additional conductors at the Company’s large 100%-owned Mount Vernon Project in the Gascoyne region of Western Australia.

• Ground EM survey identifies more strong conductors at Mount Vernon
  
• Bangemall Projects share regional, project and target-scale similarities to Norilsk

Miramar’s Executive Chairman, Mr Allan Kelly, said the Company was excited about the potential district- scale opportunity at Bangemall and looked forward to progressing towards a maiden drilling campaign.

“At Mount Vernon and Trouble Bore, we are seeing all the ingredients needed for the formation of a large- scale mafic intrusion hosted Ni-Cu-PGE deposit such as Nova or Nebo-Babel,” he said.

“These types of deposits can be large and very valuable due to the mix of metals present which makes them mostly immune to short-term fluctuations in the nickel price,” he added.

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

Mount Vernon – Target C

Geophysical surveying contractor, Wireline Services Group, has now completed the Fixed Loop EM (FLTEM) survey over Target C, within the Mount Vernon Project, which shows a strong late-time EM anomaly where two dolerite sills are crosscut by several northeast trending faults (Figure 2).

Modelling of the data (Figure 3) indicates:

• a large, strongly conductive (~1600S), shallow (<100m) plate dipping towards the SSE; and
• a poorly-defined secondary anomaly located north of the main response

The Target C anomaly is covered by recent sediments and is the strongest EM conductor seen at Mount Vernon to date.

There is no previous drilling or geochemical sampling in the vicinity of this target.

The geophysical crew have now moved to Target D, the final airborne EM anomaly to be tested as part of this initial programme.

Following completion of the EM survey, Miramar plans to conduct systematic rock chip sampling and mapping at Mount Vernon, including field checking of the various airborne and ground EM anomalies.

Following this, the Company will plan for the maiden drill programme at Mount Vernon and Trouble Bore.

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