Drilling Completed - Benmara Battery Metals Project
Adelaide, Oct 14, 2021 AEST (ABN Newswire) - Resolution Minerals Ltd (
ASX:RML) (NC3:FRA) is pleased to announce that it has completed the first round of drilling on large scale battery metal targets (up to 4km strike length) on the Company's Benmara Project, Northern Territory (see RML ASX announcement 1/9/21).
- Resolution's first drilling program has been completed at the Benmara Project, NT
- 15 RC drill holes for a total of 2,892 metres
- Testing large scale targets prospective for sediment hosted battery metals - copper, silver, lead, zinc and cobalt
- Along strike from the Walford Creek Deposit *40Mt @ 2% Cu Eq on the Fish River fault
- Assay results anticipated late November
- Resolution is well funded with recent $1.7m Placement
The drill targets were derived from Resolution's VTEM geophysics survey, new Geoscience Australia (GA) research which identified prospective rock type previously mis-mapped and GA-SEEBASE 3D basement modelling. The drill targets tested are on the margin of the South Nicholson Basin and Murphy Inlier perched on the Fish River Fault and are analogous to and along strike from the Walford Creek Deposits (*40Mt @ 2% Cu Eq). A total of 2,892m was completed in 15 drill holes. Samples have been submitted to ALS Laboratories for assay and we anticipate a 5-to-6-week turnaround on results.
Duncan Chessell - Managing Director Resolution Minerals commented:
We are pleased to have completed the first round of drilling on the under-explored Benmara Project, which has potential for sediment hosted stratiform copper and other battery metals as well as unconformity style uranium.
The program was designed to test large scale targets derived from the Company's VTEM geophysics survey earlier in the year. The VTEM survey identified conductive units which can act as traps sites for battery metal or uranium mineralisation.
The other aim of the drilling program was to test the VTEM survey modelling and prove that the reductive trap site rocks - pyritic shales are present in dimensions for large scale deposits to form. This would then open-up the potential along the entire margin of the South Nicholson Basin for battery metal deposits to form.
Our recent corporate activity to pick up more of the margin of the South Nicholson Basin gives Resolution a dominant 2,230km2 ground position in which to test for large scale battery metal and uranium deposits in the region.
Further drill programs and geophysics surveys are being considered.
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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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