Miramar Resources Ltd (ASX:M2R) will soon begin preparing for a maiden drilling program at the Mount Vernon Nickel-Copper-Platinum Group Element (PGE) Project in the Gascoyne region of Western Australia, where an electromagnetic (EM) survey has identified more strong conductors.
In particular, a fixed loop EM survey over Target (NYSE:TGT) C within Mount Vernon generated two points of interest – a strongly conductive, shallow play dipping toward the south-southeast, and a poorly-defined secondary anomaly north of the main response.
The conductor plate is covered by recent sediment and represents the strongest EM response seen at the project to date.
Potential for large and valuable deposit
Miramar resources executive chair Allan Kelly said the company was excited about the potential district-scale opportunity at its Bangemall projects and looked forward to progressing towards a maiden drilling campaign.
“At Mount Vernon and Trouble Bore, we are seeing all the ingredients needed for the formation of a large-scale mafic intrusion hosted nickel-copper-PGE deposit such as Nova or Nebo-Babel,” he said.
“These types of deposits can be large and very valuable due to the mix of metals present which makes them mostly immune to short-term fluctuations in the nickel price.”
Miramar will now conduct one final airborne EM survey over the target D area before planning and executing a rock chip sampling and mapping program over Mount Vernon, including field checking of its EM anomalies in preparation for a maiden drilling campaign at both Mount Vernon and Trouble Bore.