Miramar Resources (ASX: $M2R) announces identification of strong EM conductors at Mount Vernon project

Miramar Resources Limited (ASX: $M2R) has announced the identification of additional strong conductors at its 100%-owned Mount Vernon Project in the Gascoyne region of Western Australia. The ground electromagnetic (EM) surveys have revealed the presence of strong late-time EM anomalies, indicating the potential for intrusion-hosted nickel, copper, and platinum group element (Ni-Cu-PGE) mineralisation related to 1070Ma aged Kulkatharra Dolerite sills.

Executive Chairman's commentary on the potential district-scale opportunity

The Executive Chairman, Mr Allan Kelly, expressed the company's excitement about the potential district-scale opportunity at Bangemall and the prospect of progressing towards a maiden drilling campaign. He highlighted the presence of all the necessary ingredients for the formation of a large-scale mafic intrusion hosted Ni-Cu-PGE deposit at Mount Vernon and Trouble Bore, similar to Nova or Nebo-Babel. Mr Kelly emphasized the potential value of these deposits due to the mix of metals present, making them mostly immune to short-term fluctuations in the nickel price.

Summary of Miramar Resources (ASX: $M2R) announcement

Miramar Resources' ground EM surveys at the Mount Vernon Project have identified strong conductors, indicating the potential for intrusion-hosted Ni-Cu-PGE mineralisation. The upcoming work programme includes drilling at Trouble Bore, systematic rock chip sampling, and RC drill testing. The company aims to confirm the presence of Ni-Cu sulphide mineralisation and progress other existing tenement applications to grant. Miramar's strategic land position in the Bangemall region focuses on areas with high prospectivity for Ni-Cu-PGE mineralisation, similar to the Norilsk-Talnakh deposits in Russia. The company's Board aims to create shareholder value through the discovery of high-quality mineral deposits in the Eastern Goldfields and Gascoyne regions of WA.