Miramar identifies uranium targets at Bangemall

Miramar Resources has identified several big uranium targets at its flagship Bangemall project, located in Western Australia's Gascoyne region. 

The South Perth-based company - which specialises in mineral exploration - said regional radiometric data indicated several significant and high-amplitude uranium anomalies.

These anomalies and subsequent energy waves cover more than 100km of strike and are across a number of Miramar's tenements at the site.  

Uranium mining was banned in WA by the state government in 2017, with only four existing projects across the state receiving ministerial permission to continue mining activities. 

Miramar's executive chairman Allan Kelly said Bangemall's location was ideally suited for a variety of mineral commodities.

“Proterozoic orogens throughout Australia and worldwide host many large base and precious metal deposits, and we believe the Capricorn Orogen should be no exception,” Mr Kelly said.

“Whilst our current focus is on exploring for Norilsk-style (Russian) nickel, copper and platinum group elements at our Mount Vernon and Trouble Bore projects, we have a very long list of attractive exploration targets we aim to systematically explore." 

The Capricorn Oregon is a region approximately 1000km and 500km wide, comprised of deformed rocks, ranging from Archean to Proterozoic. It is situated between both Pilbara and Yilgarn cratons. 

It's been a busy fortnight for Australian uranium companies, following news from Kazakhstan that the world's largest producer, Kazapromtom, has downgraded its annual production guidance, due a shortage in sulphuric acid.

This announcement resulted in share price rises, along with the uranium spot price remaining above $US100 per pound. 

On Thursday, stocks in Bannerman Energy reached $3.95 per share, their highest price since 2011, while Deep Yellow gained 3 per cent, to $1.67 per share. 

The current uranium spot price is $US103 per pound. 

On January 2, Miramar announced it would expand its Bangemall project, following the granting of exploration licence E52/4301.