Wedoany.com Report-Aug. 27, Miramar Resources has partnered with Sumitomo Metal Mining Oceania, a subsidiary of Sumitomo Metal Mining, to form an exploration joint venture for the Bangemall nickel, copper, and platinum group element projects in Western Australia’s Gascoyne region. The project area spans 1,230 square kilometers across the Edmund and Collier basins, which contain Kulkatharra Dolerite sills from the Warakurna Large Igneous Province.

Miramar Resources is partnering with Sumitomo for exploration in WA.

The joint venture includes five exploration licenses held by MQ Minerals, a Miramar subsidiary. Sumitomo will reimburse Miramar approximately A$275,000 for its share of an ongoing magnetic versatile time domain electromagnetic survey, co-funded by the Exploration Incentive Scheme. Sumitomo is committed to investing at least A$600,000 within 36 months and plans to contribute A$2.5 million over three years to earn a 60% stake. Further investments could increase Sumitomo’s interest through phased expenditures and a feasibility study.

Jiro Uesugi, managing director of Sumitomo Metal Mining Oceania, stated: “We believe the Bangemall project has significant potential for Ni-Cu-PGE 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.”

Miramar’s executive chairman, Allan Kelly, stated: “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 oversee exploration activities and remain free-carried until Sumitomo opts for pro-rata contributions after the earn-in phases. If either party’s interest falls below 10%, it converts to a 2% net smelter return royalty. A detailed magnetic and electromagnetic survey is nearing completion, with plans for mapping, rock chip sampling, and ground surveys following data analysis. In February 2025, Miramar reported discovering nickel and copper sulphides at Mount Vernon through co-funded drilling.

Sumitomo, with over 300 years of mining experience, operates Japan’s Hishikari Mine and holds global mining interests. The partnership leverages Miramar’s regional exploration efforts and Sumitomo’s expertise to target valuable mineral deposits. Miramar is also advancing geophysical surveys at its Gidji JV Gold Project and exploring the sale of non-core gold projects in Western Australia, supporting its focus on high-potential resources.