Miramar Resources has agreed to form an exploration joint venture (JV) for its Bangemall nickel-copper-platinum group element projects in Western Australia (WA) with Sumitomo Metal Mining Oceania, a subsidiary of Sumitomo Metal Mining.
The Bangemall deposits are located in the Gascoyne region.
They cover approximately 1,230km² across the Edmund and Collier basins. These areas are intruded by Kulkatharra Dolerite sills from the Warakurna Large Igneous Province.
In February 2025, Miramar reported the discovery of disseminated nickel and copper sulphides during co-funded reverse circulation (RC) drilling at Mount Vernon.
SMMO managing director Jiro Uesugi said: “We believe the Bangemall project has significant potential for Ni-Cu-PGE [nickel, copper and platinum group elements] mineralisation, and we look forward to working with Miramar's strong technical team as the project operator, as well as looking forward in anticipation to the results that can be delivered.”
The JV agreement includes five exploration licences held by MQ Minerals, a Miramar subsidiary.
As part of the agreement, Sumitomo Metal Mining will reimburse Miramar around A$275,000 ($178,296) for its share of an ongoing magnetic versatile time domain electromagnetic (VTEM) survey, co-funded by the Exploration Incentive Scheme.
Sumitomo Metal Mining must commit to a minimum expenditure of A$600,000 within 36 months before it can withdraw. To earn a 60% interest, Sumitomo Metal Mining plans to invest A$2.5m over three years.
Further investments could allow Sumitomo Metal Mining to increase its stake through staged expenditures and completion of a feasibility study.
Sumitomo Metal Mining, with more than 300 years of experience in mine development and operation, manages the Hishikari Mine in Japan and has interests in various global mining ventures.
Miramar executive chairman Allan Kelly said: “We are looking for mafic intrusion-hosted Ni-Cu-PGE deposits, like the Noril’sk deposits in Russia, which are some of the world’s largest and most valuable mineral deposits of any kind.
“The Edmund and Collier Basins have been recognised by the Geological Survey of WA, Geoscience Australia and the CSIRO as having potential for Noril’sk-style mineralisation; however, Miramar is the first company to specifically target this style of mineralisation in this region.”
Miramar will manage exploration activities under the JV and will be free-carried until Sumitomo Metal Mining opts to commence pro-rata contributions after the earn-in phases. If either party's interest falls below 10%, it converts automatically to a 2% net smelter return royalty.
