The nickel snowball at Gidji is gaining speed and Miramar is racing with it

Re-analysis of multiple aircore holes has increased the nickel sulphide potential of Miramar’s Gidji joint venture in Western Australia’s eastern Goldfields region.

The return of further significant platinum and/or palladium assays associated with high nickel and/or copper results adds weight to the company’s previous discovery of significant platinum group elements which appeared to be related to higher nickel and copper results back in early December 2022.

Here’s why this is potentially very lucrative for Miramar Resources (ASX:M2R).

The combination of PGE with nickel and copper are suggestive of nickel sulphide mineralisation hosted in ultramafic rocks.

And there’s about 15km of strike of multiple ultramafic units such as the Highway Ultramafic that hosts the historic Scotia nickel mine and Auroch Minerals’ Saints nickel deposit at Gidji, which is plenty of room for a nickel find of considerable substance.

Not bad at all when experts are tipping heady days ahead for nickel.

“The local geology of the Gidji JV Project is very similar to that seen at Scotia, with a steep westerly dipping sequence of mafic and ultramafic rocks, including the Highway Ultramafic unit, above a footwall sequence of sediments and/or basalt,” executive chairman Allan Kelly said.

He added that while high nickel results were by themselves not a good indicator of nickel sulphide mineralisation, elevated nickel and copper with elevated PGE results were strongly suggestive of a relationship between the higher nickel results and a nickel sulphide source.

Getting off the beaten track

With this highly encouraging result in mind, the company is now looking to increase its activity at the Gidji project tenements, which have seen little nickel exploration due to the extensive surficial cover and the lack of any outcrop.

Two prospective basal contact targets have been outlined, one on the eastern side of the Highway Ultramafic unit and a second ultramafic unit further to the west.

Miramar intends to cover these highly prospective nickel targets with a ground electromagnetic survey followed by reverse circulation and possibly diamond drilling of the basal contact targets.

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.