Miramar Resources hammers out long list of large uranium targets at Bangemall

  • Regional radiometric data identifies multiple very large and high-amplitude uranium anomalies
  • Miramar Resources says Bangemall has the potential for multiple commodities and deposit types
  • Work is progressing towards the grant of the tenement applications at Cheyne Springs, and the adjacent Blue Bar target

Special Report: Radiometric data across Miramar Resources’ Bangemall project in WA’s Gascoyne region has picked out multiple uranium anomalies stretching over +100km of strike.

While the main game for Miramar Resources (ASX:M2R) has been exploration for Norilsk-style nickel, copper and platinum group elements (PGEs) at Bangemall, the company says it now has a “very long list” of attractive uranium targets.

The Norilsk mining centre lies in the Russian high artic about 2,800km north-east of Moscow and is believed to host around 35% of the world’s known nickel reserves, as well as 10% of its copper, 15% of its cobalt and 40% of PGE metals.

In the past, M2R managing director Allan Kelly has laid claim to Bangemall potentially hosting mineralisation similar to the giant Norilsk deposits, which would open up an entirely new nickel province where the company holds a commanding land position.

But recent radiometric data has now outlined promising uranium prospectivity as well with very large and high amplitude uranium anomalies that stretch over at least 100km of strike and across several of M2R’s tenements.

Well-defined 60km anomaly

One of these is a well-defined, 60km long uranium anomaly within the Cheyne Springs target towards the northern edge of the Edmund Basin, at the contact with the older Ashburton Basin rocks.

M2R says the anomaly has been virtually unexplored except for a few wide-spaced rock chip samples that returned results up to 290ppm U3O8.

Miramar ASX M2R
Cheyne Springs tenement applications showing uranium in limited historic rock chip results. Pic: Supplied (M2R)

Kelly says Bangemall holds the potential for multiple commodities and deposit types.

“Proterozoic orogens throughout Australia and worldwide host many large base and precious metal deposits, and we believe the Capricorn Orogen should be no exception,” he says.

“Whilst our current focus is on exploring for Norilsk-style nickel, copper and platinum group elements at our Mount Vernon and Trouble Bore Projects, we have a very long list of attractive exploration targets we aim to systematically explore.”

What’s next?

M2R is currently awaiting the grant of tenement applications for Cheyne Springs and the adjacent Blue Bar target.

This article was developed in collaboration with Miramar Resources, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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