Miramar Resources and Sumitomo Metal Mining Oceania form a joint venture for Bangemall nickel-copper-platinum group element projects in Western Australia’s Gascoyne region. The project covers 1,230km² intruded by Kulkatharra Dolerite sills, showing potential for significant mineralization. Sumitomo will invest A$2.5m over three years to earn a 60% interest.

The JV includes five exploration licenses, with Sumitomo reimbursing Miramar around A$275,000 for ongoing surveys. Miramar will manage exploration activities, targeting mafic intrusion-hosted Ni-Cu-PGE deposits similar to Noril’sk deposits. Detailed magnetic and VTEM surveys at Bangemall are almost complete, paving the way for further exploration work.

Miramar is also advancing geophysical surveys and drilling at the Gidji JV Gold Project while initiating a sale process for non-core projects. The company aims to unlock the potential of the Edmund and Collier Basins for world-class mineral deposits. Sumitomo, a seasoned mine developer, commits to significant investment in the JV for long-term success.

Read more at finance.yahoo.com: Miramar and Sumitomo Metal Mining to form JV for Bangemall deposits