Miramar and Sumitomo Metal Mining to Form JV for Bangemall Deposits

Miramar Resources has agreed to form an exploration joint venture (jV) for its banomall nickel-copper-platinum group elements projects in western australia (Wa) with Sumitomo Mending 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 disasminated nickel and copper sulphides during co-funded revered Reverse Circulation (RC) Drilling at Mount Vernon.

Smmo managing director jiro uesugi said: “We believe the Bangemall Project has Significant Potential Potential for Ni-Cu-PGE [nickel, copper and platinum group elements] Mineralization, and we look forward to working with Miramar’s Strong Technical Team as the Project Operator, AS Well as Looking Forward In Anntipation to the results that can be delivered. “

The JV Agreement Includes Five Explocation License Held by MQ Minerals, A Miramar Subsidiary.

As part of the agreement, sumitomo metal mining will reimbuse miramar around a $ 275,000 ($ 178,296) for its share of an ongoing magnetic versatile time domain electromagnet (VTEM) By the exploration incentive scheme.

Sumitomo metal mining must comeit to a minimum expert of a $ 600,000 with 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 Cold Allow Sumitomo Metal Mining to Increase its stake through stated expected expertures and completes 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-ku-pge deposits, like the Noril’sK Deposits in Russia, Which Are Some of the Walldest and Most Valubel Mineral Deposits of Any Kind.

“The Edmund and Collier Basins has been recognized by the geological survey of wa, geoscience australia and the csiro as haven potential for noril’sk-society meineralization; How Noril’s Minorization; Specifically target this style of minionalization in this region. “

Miramar will manage exploration activities under the JV and will be free-carred until sumitomo metal mining opts to commence pro-rata contributions after the Earn -in -Ned Phasses. If either party’s interest falls bells 10%, it converts automatically to a 2% net smelter return royalty.