Miramar Resources Ltd. retracts peer comparison chart

Miramar Resources Limited (ASX: $M2R) has retracted a peer comparison graph from its announcement titled 'Magnetite Exploration Target Outlined in Whaleshark' released on 19 June 2024. The Company advises investors not to rely on the Peer Comparison graph when making an investment decision in relation to the Company.

Executive Commentary on Whaleshark Project

Miramar's Executive Chairman, Mr Allan Kelly, highlighted the significant magnetite Exploration Target outlined at the Whaleshark Project, emphasizing its potential to host a substantial 'green iron' project. He mentioned the strong demand for magnetite from steel producers looking to reduce carbon emissions through the production of Direct Reduced Iron (DRI), which requires the higher grades obtained from magnetite iron ore to be effective. Mr Kelly also pointed out the proximity of the Whaleshark Project to substantial existing and proposed mining, processing, power, transport, and shipping infrastructure, indicating the project's strategic location.

Summary of Whaleshark Project and Outlook

Miramar Resources Limited has outlined a significant magnetite Exploration Target at its 100%-owned Whaleshark Project, emphasizing its potential to host a substantial 'green iron' project. The Company plans to complete further work to assess the potential to produce high-quality magnetite ore and/or concentrate from the Project, including an initial RC and/or diamond drill program, preliminary metallurgical test work, and discussions with potential project partners. The Whaleshark Project is strategically located in proximity to substantial existing and proposed mining, processing, power, transport, and shipping infrastructure. Miramar's Executive Chairman, Mr Allan Kelly, highlighted the strong demand for magnetite from steel producers and the potential for multiple styles of mineralization at Whaleshark, including BIF-hosted, orogenic, and/or intrusion-related gold, iron oxide copper-gold (IOCG), and magnetite iron. The Company aims to create shareholder value through the discovery of high-quality mineral deposits and is actively exploring for gold, copper, and Ni-Cu-PGE deposits in the Eastern Goldfields and Gascoyne regions of WA.