DRILLING COMMENCED AT WOLLOGORANG COPPER PROJECT
- Reverse Circulation drilling has commenced at the Wollogorang Project, Northern Territory, with up to 6,500m planned to test a plethora of prospective copper targets over the next six weeks
- Drilling is funded by OZ Minerals (ASX: OZL) as part of an earn-in and joint venture agreement
- Wollogorang is highly prospective for sediment-hosted copper mineralisation and contains known copper and cobalt mineralisation at several prospects and the Stanton Cobalt-Copper Deposit
- Drillholes have been designed to test significant geophysical anomalies in favourable stratigraphic and structural positions for hosting mineralisation
- Assay results are expected to be available in January
Resolution Minerals (ASX: RML) is pleased to announce that the Company has commenced a planned 6,500m reverse circulation (“RC”) drilling program at the Wollogorang Project in the Northern Territory. The project is highly prospective for sediment-hosted copper, cobalt and other base metals and is a key project in RML’s search for new energy metals.
A total of 6,500m of drilling has been designed and the Company plans to drill as much of this as possible before the onset of the wet season. Should targets remain after this program is conducted then consideration will be given to further drilling in 2023. Delays in completing the heritage survey were encountered, but all planned drill sites are now approved for drilling activities.
Drilling is funded by OZ Minerals as part of their first-year commitments as outlined in the earn-in and joint venture agreement between the two companies (ASX Announcement 24/8/2021).
"We are extremely excited to finally be able to drill test the outstanding targets that the RML team has generated at Wollogorang. This is a highly copper-fertile area, as evidenced by the copper and cobalt mineralisation at the Stanton Deposit and nearby Redbank Mine and has the potential to host large-scale, sediment-hosted mineralisation where copper-bearing fluids have interacted with suitable reductive host rocks which are abundant on the property. The number and quality of drill targets at Wollogorang is quite astounding, and the potential of the area has been recognised by our joint venture partner, OZ Minerals, who is funding the drill program."
- Managing Director Steve Groves