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Miramar Resources Limited (ASX:M2R, “Miramar” or “the Company”) is pleased to advise that it has expanded its 100%-owned Bangemall Project in the Gascoyne Region of WA with the recent grant of Exploration Licence E52/4301, adjacent to the high-priority Mount Vernon Ni-Cu-PGE Project (Figure 1).
- New Exploration Licence granted adjacent to Mount Vernon Project
- Historic EM data highlights multiple anomalies and potential feeder dykes
- Ground EM and RC drilling planned for high-priority Mount Vernon targets
Miramar has a substantial landholding in the Bangemall region and believes there is potential for nickel (Ni), copper (Cu) and platinum group element (PGE) mineralisation related to Kulkatharra Dolerite sills, part of the Warakurna Large Igenous Province and the same age as the Nebo and Babel Ni-Cu deposits.
The new “Trouble Bore” Project contains a number of these dolerite sills, and potential feeder dykes, intruding into sediments of the Collier Basin but has never been effectively explored for Ni-Cu-PGE’s.
Miramar’s Executive Chairman, Mr Allan Kelly, said the Company was aiming to show “proof of concept” at Bangemall through the discovery of Ni-Cu-PGE sulphides, either in outcrop and/or through drilling.
“If we are successful at Mount Vernon, it opens up the entire Bangemall region as a new nickel province, one in which we have built a commanding land position,” he said.
Figure 1. Exploration Licence E52/4301 (“Trouble Bore”) in relation to Mount Vernon.
Trouble Bore
Exploration Licence E52/4301 (“Trouble Bore”) is located mostly within the Collier Basin and straddles the contact with the older Edmund Basin sediments within the Pingandy Shelf (Figure 1).
Across the southern two thirds of the tenement, the local geology is dominated by Kulkatharra Dolerite sills which intrude into sediments of the Collier Basin (Figure 2). The northwestern portion of the tenement is underlain by sediments of the Edmund Basin, also intruded by a dolerite sill.
Previous exploration is limited and sporadic and focussed mainly on exploration for sediment-hosted copper, lead and zinc during the 1990’s and early 2000’s. More recent exploration since 2009 focussed on the search for channel iron deposits (CID) by Rio Tinto Exploration in the period 2012-2014.
Rio Tinto flew a SkyTEM electromagnetic survey in 2013, with N-S survey lines and a relatively broad line spacing of 1000m, and subsequently drilled three RC holes within the area now covered by E52/4301.
The RC drilling failed to intersect CID mineralisation and Rio Tinto subsequently surrendered the tenements (WAMEX reports a100526, a104395 and a106023).
The SkyTEM data highlights EM anomalies coincident with the EW-trending sub-horizontal dolerite sills as well as two N-S trending anomalies which may represent sub-vertical feeder dykes linking the sills.
Feeder dykes are an important component of the “plumbing systems” associated with Ni-Cu-PGE deposits, as shown in Figure 3.
There is minimal reported surface geochemical data across the Project.
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M2R:AU
Cyprium Metals: Advancing Western Australia’s Nifty Copper Mine for Near-term Production, Long-term Growth
Cyprium Metals (ASX:CYM), an Australian copper-focused exploration and development company, is committed to revitalizing brownfield assets, with a primary focus on redeveloping the Nifty Copper Complex—a historically significant copper mine in Western Australia. Well-positioned for near-term production and long-term growth, Cyprium is set to play a key role in the copper industry.
The company is progressing toward full-scale copper production, targeting an annual output of over 38,000 tons through a combination of cathode and concentrate production.
The Nifty Copper Mine is Cyprium’s flagship project, featuring a well-defined resource and existing infrastructure that substantially lowers the capital requirements for restarting operations. With a resource base of 1.04 million tons of contained copper, the project offers a mine life exceeding 20 years, along with promising brownfield expansion opportunities.
Company Highlights
- Cyprium Metals is redeveloping the Nifty Copper Complex, a historically significant copper operation with both oxide and sulphide resources, offering a low-risk pathway to production.
- The flagship Nifty copper mine has a mineral resource estimate of 1.04 million tons of copper and an additional 91,000 tons in leach pads, the project has substantial near-term revenue potential.
- The reprocessing of existing heap leach pads at Nifty offers a low-cost, high-margin opportunity to generate early-stage revenue and fund further project development.
- Macmahon Holdings is leading the bankable feasibility study under an early contractor involvement model, contributing internal resources to optimize the project’s execution.
- Offtake and financing agreements secured with Glencore, providing financial stability and downstream integration for copper sales.
- Led by executive chairman Matt Fifield, Cyprium’s team includes seasoned mine builders and financial strategists with extensive experience in copper development and operations.
- Trading at a fraction of its asset value, Cyprium presents a compelling investment opportunity, with limited equity research coverage despite its strong fundamentals and near-term production timeline.
This Cyprium Metals profile is part of a paid investor education campaign.*
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Cyprium Metals
Investor Insight
Cyprium Metals presents a compelling investment opportunity as a near-term copper producer with a well-defined strategy to generate early cash flow while scaling up production. The company’s brownfield assets, strategic partnerships, and disciplined capital management position it as an undervalued player in Australia’s growing copper market.
Overview
Cyprium Metals (ASX:CYM,OTC:CYPMF) is an Australian copper-focused exploration and development company dedicated to reviving brownfield assets with a clear path to production. The company’s primary focus is on the redevelopment of the Nifty copper complex, a historically productive copper mine in Western Australia, positioned for near-term production and long-term growth.
Nifty’s robust resource base, combined with strategic partnerships and a disciplined execution strategy, provides Cyprium with a strong foundation for scaling copper production. Advancing towards full copper production is the next strategic step, with plans to produce over 38,000 tons per annum through both cathode and concentrate production.
The company is also advancing the Maroochydore copper-cobalt project, located 70 km from Nifty, which further strengthens its asset portfolio in Paterson Province.
By prioritizing capital efficiency, operational excellence and commercial partnerships, Cyprium aims to deliver sustained value to shareholders while addressing the growing demand for copper in the global energy transition. Cyprium Metals is guided by a seasoned leadership team with deep experience in mine development, corporate strategy, and financial execution.
Company Highlights
- Cyprium Metals is redeveloping the Nifty Copper Complex, a historically significant copper operation with both oxide and sulphide resources, offering a low-risk pathway to production.
- The flagship Nifty copper mine has a mineral resource estimate of 1.04 million tons of copper and an additional 91,000 tons in leach pads, the project has substantial near-term revenue potential.
- The reprocessing of existing heap leach pads at Nifty offers a low-cost, high-margin opportunity to generate early-stage revenue and fund further project development.
- Macmahon Holdings is leading the bankable feasibility study under an early contractor involvement model, contributing internal resources to optimize the project’s execution.
- Offtake and financing agreements secured with Glencore, providing financial stability and downstream integration for copper sales.
- Led by executive chairman Matt Fifield, Cyprium’s team includes seasoned mine builders and financial strategists with extensive experience in copper development and operations.
- Trading at a fraction of its asset value, Cyprium presents a compelling investment opportunity, with limited equity research coverage despite its strong fundamentals and near-term production timeline.
Key Projects
Nifty Copper Complex
The Nifty copper mine is Cyprium’s flagship project, boasting a well-defined resource and established infrastructure that significantly reduces the capital intensity of restarting operations. With a resource base of 1.04 million tons of contained copper, the project offers a 20+ year mine life with brownfield expansion opportunities.
A key advantage of Nifty is the near-term revenue potential from reprocessing 91,000 tons of copper in existing heap leach pads. Macmahon Holdings is leading the bankable feasibility study execution. The company is also working in collaboration with strategic partner Glencore to secure offtake agreements and financial support.
Nifty heap leach pads
The production strategy involves an initial focus on heap leach processing, followed by a full-scale restart of open-pit mining and concentrator operations with plans to produce over 38,000 tons per annum through both cathode and concentrate production. The asset is projected to generate AU$4 billion EBITDA over its lifecycle, with a five-year payback period.
Maroochydore Copper-Cobalt Project
The Maroochydore copper-cobalt project is positioned as Cyprium’s next growth asset, complementing Nifty and enhancing the company’s regional production capacity. This asset holds a resource base of 712,000 tons of copper, with recently updated mineral resource estimates confirming further expansion potential. Located just 70 km from Nifty, Maroochydore benefits from shared infrastructure and operational synergies, strengthening its strategic value within Cyprium’s portfolio.
Management Team
Matt Fifield – Executive Chairman
Matt Fifield is a proven leader in corporate turnarounds and resource development, instrumental in repositioning Cyprium as a growth-focused copper producer. He is the managing director of Pacific Road Capital, a leading resource investment firm that has managed over $1 billion in funds raised to develop and enhance resource companies around the world. Fifield has participated in over $10 billion of capital raising and M&A transactions across his career and is a leading voice on responsible resource investing. He is a frequent speaker and contributor around issues of sustainable development practices.
Colin Mackey – Chief Operating Officer
Colin Mackey has extensive experience in mine operations and development, overseeing the Nifty restart strategy. A mining engineer by background, Mackey has worked with Goldfields, BHP and Theiss, before joining Rio Tinto in 2003, where he led the construction, development and operational improvement of multiple mining operations within the company’s portfolio. His most recent role was as managing director of Jadar and European operations for Rio Tinto. Mackey is a member of the Institute of Materials, Minerals and Mining and the Australian Institute of Company Directors.
Louis Chait – Chief Commercial Officer
Louis Chait is the former CFO of Glencore Copper, bringing deep financial and commercial expertise. He is a highly experienced corporate executive with more than 25 years’ experience in the global resources industry, having worked across senior business development and finance positions at Xstrata and Guildford Coal. He brings extensive commercial experience and skills in establishing successful, highly efficient operations in multiple jurisdictions. Chait is a member of Chartered Accountants, Australia and New Zealand.
Manu Trivedi – Interim CFO
Manu Triverdi is a chartered accountant and a CPA with 16 years of experience in financial and business strategies, controllership, compliance and leadership across various industries covering mining, power generation and retail, hospitality, commodities trading and education. Trivedi previously worked as group financial controller for tungsten miner Masan Resources, and has held other senior finance positions for mining projects in South Africa.
Peter van Luyt – Chief Geologist
Peter van Luyt is a geologist with 30 years’ experience in mining, development and exploration geology. He commenced his career as a mine geologist working in gold mines. Since 2004, he has been a contract and consultant geologist specialising in the development of and exploration for base metals and gold projects in Australia, Papua New Guinea and Canada.
