Miramar Resources has validated the presence of Noril’sk-style copper-nickel-PGE mineralisation at its Bangemall Project in Western Australia, despite ending its joint venture with Sumitomo Metal Mining. The company plans to continue exploration in 2026, seeking new partners and government co-funding.
- Noril’sk-style mineralisation confirmed at Bangemall through drilling and VTEM survey
- Exploration JV with Sumitomo Metal Mining Oceania terminated
- Miramar to continue Bangemall exploration and seek new JV partners in 2026
- Significant potential linked to world-class Noril’sk-Talnakh deposit analogues
- Focus also on Gidji JV Gold Project with deeper drilling planned
Exploration Breakthrough at Bangemall
Miramar Resources Limited has delivered a significant update on its Bangemall copper-nickel-platinum group element (PGE) project located in Western Australia's Gascoyne region. Since starting exploration in 2021, Miramar has successfully demonstrated the presence of Noril’sk-style mineralisation, a highly sought-after deposit type known for its world-class value and scale.
The company’s recent reverse circulation drilling and a detailed Versatile Time Domain Electromagnetic (VTEM) survey, co-funded by the Western Australian Government’s Exploration Incentive Scheme, have identified multiple large late-time conductors. These geophysical signatures are consistent with Noril’sk-style Cu-Ni-PGE sulphide mineralisation, reinforcing the project's potential to host a major discovery.
JV with Sumitomo Ends, But Optimism Remains
Despite this promising progress, Miramar announced it will not proceed with the previously proposed exploration joint venture with Sumitomo Metal Mining Oceania Pty Ltd. While the termination of this JV might raise questions, Miramar’s Executive Chairman Allan Kelly emphasized the company’s continued commitment to the Bangemall Project. He highlighted the enormous value potential, referencing the Noril’sk-Talnakh deposits in Siberia, which are among the world’s largest and most valuable mineral camps.
Kelly noted that even a small Noril’sk-style discovery at Bangemall could be worth billions, positioning the project as a potential new frontier for copper, nickel, and PGEs in Australia. The geological setting, including 1,230 square kilometres of Proterozoic basins intruded by 1.07 billion-year-old dolerite sills, shares key characteristics with other major deposits like Nebo-Babel in the West Musgraves region.
Looking Ahead, Exploration Plans for 2026
Miramar plans to maintain momentum by continuing exploration at Bangemall in 2026. The company intends to apply for further government co-funding and actively seek new joint venture partners to accelerate discovery efforts. Additionally, Miramar will focus on its Gidji JV Gold Project near Kalgoorlie, where deeper drilling is planned to identify the source of previously discovered shallow gold mineralisation.
This dual approach underscores Miramar’s strategy to leverage its portfolio across both base metals and gold, aiming to create substantial shareholder value through high-quality mineral discoveries.
Strategic Significance and Market Implications
The confirmation of Noril’sk-style mineralisation at Bangemall places Miramar in a unique position within the Australian exploration landscape. The project’s geological parallels to globally significant deposits could attract considerable investor interest, especially as demand for copper, nickel, and PGEs continues to grow amid the global energy transition.
While the JV termination introduces some near-term uncertainty, Miramar’s proactive plans to secure new partnerships and government support suggest a resilient outlook. The company’s ability to translate these early exploration successes into a substantial resource will be closely watched by the market in the coming months.
Bottom Line?
Miramar’s Bangemall project remains a high-potential copper-nickel-PGE frontier, with exploration poised to intensify despite JV setbacks.
Questions in the middle?
- What are the financial and strategic reasons behind the termination of the Sumitomo JV?
- How soon can Miramar secure a new joint venture partner to accelerate Bangemall exploration?
- What are the expected timelines and milestones for confirming a significant resource at Bangemall?