Resolution Minerals Ltd (ASX:RML) (FRA:NC3) is pleased to announce encouraging preliminary results from a ~2,000 line-kilometre VTEM Max geophysics survey and a litho-structural interpretation of the Wollogorang Project, NT (Australia) which is prospective for copper (Cu) and other base metals.
- Results from a recent VTEM geophysics survey has identified 40 conductors highlighting the copper potential of the Wollogorang Project, NT.
- VTEM surveys can detect sub-surface conductive bodies to 400m such as massive base metal sulfides directly and other potential trap sites for base metals.
- The underexplored Wollogorang Project is located in the highly prospective McArthur Basin, with surrounding ground held by Teck, BHP, Rio Tinto, Redbank and South 32.
- Prioritisation of drilling targets with modelling of VTEM results is underway.
- Drilling is planned for late August on VTEM targets and the Gregjo Prospect to allow for extra track preparation and permitting, subject to rig availability.
The VTEM survey has identified 40 conductors, including multiple late time conductors, which have been ranked on the VTEM geophysics characteristics on a scale from 1 (best) to 3 (See Figure 1*).
Combining the VTEM results (conductors) with the litho-structural interpretation will allow RML to rank the geophysical results against geological context and logistical considerations and this work is ongoing.
Ground verification of all the VTEM targets confirms no interference from human factors. It is highly likely further drill targets will be refined from this ongoing interpretation of the VTEM results and the Company intends to update investors once this has been completed over coming weeks.
Previous exploration has focussed on discrete breccia pipes, which demonstrated the presence of copper and cobalt in the system. However, these breccia pipes were not of sufficient scale to warrant further attention on RML's tenements. Resolution's new approach is to use modern geophysics to identify large scale sediment-hosted stratiform copper mineralisation within two McArthur Basin Formations (Wollogorang Formation & Gold Creek Volcanics Formation). Both Formations contain reductive units, which are prospective trap sites for sediment-hosted stratiform copper mineralisation.
Managing Director - Duncan Chessell commented:
Resolution's geology team has taken a fresh approach to the project using a wide-spaced, powerful VTEM Max geophysical survey, complemented with a new litho-structural interpretation. It's paid off with these better-than-expected VTEM geophysics results. The conductors identified could indicate the presence of massive sulfides or the presence of rocks that could be excellent trap sites for base metal mineralisation. Using the new litho-structural interpretation we also aim to identify additional areas prospective for disseminated sulfides, which we can deploy ground IP geophysics to chase. The project is now wide open for copper discoveries. What has us most excited now, is that the VTEM has generated dozens of untested new targets. This has created an opportunity for Resolution to undertake a first pass assessment on the potential for the Wollogorang Project to host sediment-hosted stratiform copper mineralisation associated with VTEM derived anomalies.
*To view tables and figures, please visit:
Duncan Chessell Managing Director firstname.lastname@example.org Julian Harvey Investor Relations email@example.com
News Provided by ABN Newswire