Miramar Resources Confirms New Nickel-Copper Province, Raises $1.8M for 2025 Exploration

Exploration Breakthrough at Bangemall

Miramar Resources Limited (ASX: M2R) has reported a pivotal advancement in its quest for critical minerals with the confirmation of disseminated nickel and copper sulphides at its Bangemall Ni-Cu-Co-PGE Projects. Micro-XRF analysis of samples from the Mount Vernon drilling campaign identified pentlandite and chalcopyrite within mafic cumulate rocks of the Kulkatharra Dolerite sills. This discovery marks Bangemall as a new nickel-copper province, drawing parallels to the renowned Noril’sk-style mineralisation known for its rich deposits.

The presence of sulphate minerals such as gypsum, assimilated from evaporitic sediments intruded by the dolerite sills, further supports the potential for Noril’sk-style deposits, which require external sulphur sources. This geological setting aligns with the characteristics of major global nickel-copper-PGE deposits, positioning Miramar’s Bangemall tenure as a compelling exploration frontier.

Strategic Advances in Gold and Base Metals Exploration

Alongside its nickel-copper focus, Miramar has refined its gold exploration strategy at the Gidji Joint Venture (80% interest). A comprehensive re-interpretation of over 3,200 drill holes, including recent aircore drilling, has classified lithology, stratigraphy, alteration, and pathfinder anomalies. This data-driven approach aims to prioritise and generate new drill targets in the prolific Eastern Goldfields region, situated strategically between the Kalgoorlie Super Pit and the Paddington gold deposit.

Miramar also expanded its Randalls project landholding along the Randall Fault, a major structural corridor with significant historical drill intersections. The addition of two new tenements enhances the company’s exposure to prospective gold and base metal mineralisation in this underexplored area.

Capital Raising Fuels Ambitious 2025 Work Program

To underpin its exploration ambitions, Miramar successfully completed a placement raising approximately $1.8 million before costs. The funds will support drilling, geophysical surveys, and geochemical sampling across key projects including Gidji JV, Bangemall, Whaleshark, and Chain Pool. The company ended the quarter with $459,000 in cash, supplemented by a refund related to prior drilling activities, positioning it to advance its pipeline of targets.

Planned activities for 2025 are comprehensive: aircore and bedrock drilling at Gidji, passive seismic surveys at Glandore to map basement topography, diamond drilling at Trouble Bore within Bangemall, and detailed magnetic and EM surveys over newly granted Bangemall tenements. Additionally, follow-up soil and rock chip sampling at Chain Pool and expanded aircore coverage at Whaleshark aim to delineate further mineralisation.

Financial Discipline and Corporate Governance

Miramar continues to maintain a disciplined approach to expenditure, with exploration costs averaging 71% of cash outflows since listing in 2020. Related party payments during the quarter, including director salaries and fees, were disclosed transparently in compliance with ASX requirements. The company’s board, led by Executive Chairman Allan Kelly, remains focused on delivering shareholder value through systematic exploration and strategic asset management.

While the recent discoveries and capital raise provide momentum, Miramar’s projects remain at an early stage. The company’s ability to convert geological potential into defined resources will depend on forthcoming drilling results and ongoing technical evaluation.