Miramar’s Bangemall Project Poised for Breakthrough as JV with Sumitomo Nears Formalisation
Miramar Resources’ recent VTEM survey at Bangemall reveals multiple large electromagnetic conductors with promising Noril’sk-style nickel-copper-PGE potential, while a joint venture with Sumitomo Metal Mining moves closer to formalisation.
- Preliminary VTEM survey identifies multiple large EM conductors at Bangemall
- Conductors comparable in scale to Siberia’s Noril’sk-Talnakh deposits
- Exploration JV term sheet signed with Sumitomo Metal Mining Oceania
- Survey covered 4,499 line kilometres with detailed geophysical parameters
- Follow-up ground work and final data processing planned
Exploration Breakthrough at Bangemall
Miramar Resources Limited (ASX, M2R) has announced encouraging preliminary results from its recent magnetic and Versatile Time Domain Electromagnetic (VTEM) survey at the Bangemall Project in Western Australia. The survey, co-funded by the Exploration Incentive Scheme (EIS), has outlined multiple large electromagnetic conductors that may be indicative of Noril’sk-style nickel, copper, and platinum group element (PGE) mineralisation.
Executive Chairman Allan Kelly highlighted the significance of these conductors, noting their scale compares favourably with the world-renowned Noril’sk-Talnakh deposits in Siberia, which are among the largest and most valuable mineral deposits globally. This comparison underscores the potential value of the Bangemall Project, which Miramar has been systematically exploring since 2021.
Strategic Joint Venture with Sumitomo
In August 2025, Miramar signed a non-binding term sheet for an exploration joint venture with Sumitomo Metal Mining Oceania Pty Ltd (SMMO), a subsidiary of the Japanese mining giant Sumitomo Metal Mining Co. Ltd. This JV aims to leverage Sumitomo’s extensive mining expertise and financial resources to advance exploration at Bangemall, with SMMO able to earn a 60% interest through expenditure of $2.5 million over three years.
The partnership marks a significant step in Miramar’s strategy to unlock the value of its Bangemall tenure, which covers approximately 1,230 square kilometres of Proterozoic basins intruded by Kulkatharra Dolerite sills. These geological features are analogous in age and style to the intrusions hosting the large Nebo and Babel Ni-Cu-PGE deposits in Western Australia’s West Musgraves region.
Survey Details and Next Steps
The heliborne magnetic/VTEM survey comprised 4,499 line kilometres flown with 200-metre spaced lines oriented north-south. The survey employed a 35-metre transmitter loop and sensors flown at heights between 35 and 83 metres, designed to detect highly conductive massive sulphide deposits typical of Noril’sk-style mineralisation.
Miramar expects to receive the final processed data shortly, which will guide follow-up activities including detailed mapping, rock chip sampling, ground EM surveys, and heritage assessments. The company will also receive a $250,000 refund from the WA government and approximately $275,000 from SMMO towards survey costs once the formal JV agreement is executed.
Broader Exploration Portfolio Update
Beyond Bangemall, Miramar is advancing exploration at its Gidji JV Gold Project, with plans for further geophysical surveys and drilling at the 8 Mile prospect. Additionally, a site visit is scheduled to extend high-grade copper-lead-zinc-silver mineralisation at the Chain Pool Project. The company has also initiated a sale process for non-core assets including the Glandore and Randalls gold projects in the Eastern Goldfields.
Miramar’s focused approach on high-potential nickel-copper-PGE and gold projects, combined with strategic partnerships, positions it well to capitalise on emerging opportunities in Western Australia’s mineral exploration landscape.
Bottom Line?
As Miramar awaits final VTEM data and formal JV signing, the Bangemall Project’s potential to rival world-class deposits could soon reshape its growth trajectory.
Questions in the middle?
- What will the final processed VTEM data reveal about the size and grade of the conductors?
- How quickly will Miramar and Sumitomo formalise the JV and commence ground follow-up drilling?
- Could Bangemall’s Noril’sk-style mineralisation translate into a major new nickel-copper-PGE discovery?
