Resolution Minerals Ltd (ASX:RML) (FRA:NC3) is pleased to announce that it has commenced drilling on the highest priority battery metal targets (4km & 2km strike length) on the Benmara Project, Northern Territory (see RML ASX announcement 1/9/21). The compelling shallow drill targets are derived from Resolution’s VTEM geophysics survey and new Geoscience Australia research which identified prospective rock type previously mis-mapped. The drill targets are on the margin of the South Nicholson Basin and Murphy Inlier perched on the Fish River Fault and is analogous and along strike from the Walford Creek Deposits (*40Mt @ 2% Cu Eq) and nearby to the Westmoreland Uranium deposits. The uranium potential for unconformity style hard rock uranium is being assessed given the recent strengthening of uranium spot prices.
Duncan Chessell – Managing Director Resolution Minerals commented:
We are very excited to announce drilling has started on our maiden drill program at the under-explored Benmara Battery Metals Project in the Northern Territory. The program follows up large scale targets derived from our recent VTEM geophysics survey for sediment hosted stratiform copper and other battery metals. With virtually no prior drilling conducted into these large-scale targets, we look forward to results of this exciting opportunity and accelerating exploration.
Benmara Project (Cu-Ag-Pb-Zn-Co, U)
– Covering 663km2 positioned on the Fish River Fault west of the polymetallic Walford Creek Deposit (Cu-Ag-Pb-Zn-Co) and Westmoreland Uranium Deposits
– Two large scale drill targets (4km and 2km strike) identified by VTEM survey
– Resolution has the right to purchase from ASX SER outright for AUD$250k cash or scrip until 14/12/21
– 2,500m RC drilling program commenced September 2021
Wollogorang Project (Cu, Co, U) – subject to Farm-in Agreement with OZ Minerals
– Covering 3,825km2 in the McArthur Basin prospective for sedimentary hosted battery metals: copper, cobalt and hard rock uranium
– Wollogorang is positioned on Geoscience Australia’s newly identified base metal corridor – (Hoggard et al 2020)
– Proven mineralisation with the Stanton Cobalt Deposit (942kt @ 0.13% Co, 0.06% Ni, 0.12% Cu) (ASX N27 9/8/18)
– 40 conductors identified in recent VTEM geophysical survey highlighting the sediment hosted copper potential
– Drill targets at the Gregjo Copper Prospect to test chargeable IP geophysical anomaly underlying copper mineralisation intersected in shallow RAB drilling – up to 4% Cu
– 100% owned by RML, with mid-tier copper producer OZ Minerals sole funding Farm-in $5m to earn 51% interest, after which RML can retain 49% by participating or at RML’s election OZL has option to earn 75% interest by sole-funding to a final positive decision to mine; RML appointed as Operator
About Resolution Minerals Ltd:
Resolution Minerals Ltd (ASX:RML) is a mining company engaged in the acquisition, exploration and development of precious and battery metals – such as gold, copper, cobalt, and vanadium.
The company is led by Managing Director Duncan Chessell and an experienced team with proven success in corporate finance, marketing, metallurgy and geoscience. This equips Resolution Minerals with the tools to meet the changing demands of the mining markets.
Resolution Minerals Ltd Listed on the ASX in 2017 with a focus on the exploration of the Wollogorang Copper Cobalt Project. It has since aquired the Snettisham Vanadium Project and more entered into a binding agreement witth Millrock Resources to earn up to 80% of the highly prospective 64North Gold Project.
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