Miramar Resources Limited provided an update on exploration activities planned for its extensive Gascoyne region project portfolio. The Company has a number of 100%-owned projects in the rapidly emerging Gascoyne Mineral Province which are prospective for a range of commodities including: iron oxide copper-gold (IOCG), REE's hosted in carbonatites and Ni-Cu-PGE's associated with Proterozoic dolerite sills. Whaleshark: Modelling and inversion of detailed gravity data collected during 2022 has identified a discrete gravity anomaly within the neck of the Whaleshark granite which is cross-cut by a NW-trending structure interpreted from aeromagnetic data. The gravity anomaly, which may be caused by an accumulation of dense hematite +/- IOCG mineralisation, is coincident with the surface geochemical anomalism seen in mobile metal ion (MMI) soil analysis carried out in 2021 and geochemical anomalism seen in the "interface" aircore drilling conducted during 2022, including the higher copper assay received from the project to date. The gravity anomaly is also adjacent to a bulge and increase in the magnetic anomaly in the surrounding banded iron formation (BIF) which may be caused by an accumulation of magnetite +/- IOCG mineralisation. Modelling indicates the source of the gravity anomalies could be as shallow as 80-100m below surface and therefore just beyond the reach of the shallower aircore drilling. The juxtaposition of a gravity and magnetic anomaly is a classic signature of many large IOCG deposits, whilst the scale of the combined geochemical and gravity target is similar to the large Ernest Henry IOCG deposit in Queensland. The Company has recently received Programme of Work approval for a drill programme to test the gravity anomaly with 1-2 diamond holes and has also submitted an Application to be considered for the current round of co-funded drilling under the WA government's "Exploration Incentive Scheme". Drilling will commence following completion of a heritage survey over the proposed drill sites. Dooley Downs: The Dooley Downs target is one of several large projects held by the Company that make up the larger "Bangemall Project" within the Proterozoic Capricorn Orogen, between the older Archean Yilgarn and Pilbara Cratons. The Dooley Downs tenements were originally acquired to examine the potential for Proterozoic Ni-Cu- PGE mineralisation related to the numerous Proterozoic dolerite sills, based on a number of large regional geochemical and geophysical anomalies in the area. Following the discovery of several REE-bearing carbonatite intrusions by neighbouring companies, Miramar flew a detailed magnetic and radiometric survey over the Dooley Downs target in late 2022. As previously reported to the market, the survey highlighted several radiometric anomalies that were coincident with magnetic anomalies that could represent unmapped and/or buried intrusions, including potential carbonatites. The most compelling of these is the "Eden Bore" target where a large circular magnetic anomaly at the contact between Edmund and Collier Basin rocks is coincident with a strong Thorium and Uranium anomaly. Miramar plans to test this target with systematic soil and/or auger sampling, followed by drilling. Mount Vernon: The Mount Vernon target covers a series of Proterozoic Kulkatharra Dolerite sills where regional data
highlighted a number of large geophysical and geochemical anomalies, and where limited historical exploration work identified anomalous Ni-Cu and PGE's in soil sampling and drilling. Miramar flew a detailed magnetic and electromagnetic (EM) survey over the target in early 2022 which highlighted a number of late-time EM anomalies associated with one particular dolerite sill towards the northern edge of the project area. The previous drilling targeted Cu-Pb-Zn mineralisation within the various sedimentary units meaning none of the EM anomalies related to the dolerite sills have been specifically targeted. Significantly, hole RC97TM01 collared in a southerly dipping dolerite sill and intersected elevated nickel, copper and PGE's at the base of that sill, whilst RC97TM12 intersected sulphides in a dolerite sill which prompted the geologist to record a "sulphur smell" from the drill chips. Neither of these holes tested an EM anomaly, but the previous drilling confirmed the presence of sulphidic sediments which have been intruded by the various dolerite sills. Most major magmatic nickel sulphide deposits are associated with sulphur-bearing country rocks. The Company is planning a reconnaissance site visit and a systematic sampling programme testing each of the EM anomalies with the aim of identifying Ni-Cu-PGE sulphide mineralisation.