Wollogorang COPPER Project
The Wollogorang project is prospective for near surface sedimentary hosted copper and cobalt resources. It covers over four thousand square Kilometres in the North-East of the Northern Territory and is located located within the McArthur Basin which hosts the world class McArthur River lead-zinc Mine and is surrounded by mid-tier and major companies including BHP, Rio Tinto and Teck.
OZ MINERALS FARM IN AND AGREEMENT
In August 2021, Resolution entered into a significant Farm-in and JV agreement on the Wollogorang Copper Project with Oz Minerals (ASX: OZL). The agreement will allow RML and OZL to fast-track the search for new copper discoveries.
Resolution’s 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. Previous explorers focussed on discrete breccia pipes, such as the Stanton Cobalt Deposit, which demonstrated the presence of copper and cobalt in the system. However, these breccia pipes are not of sufficient scale to warrant further attention on RML’s tenements currently.
Resolution recently completed a ~2,000 line-kilometre airborne VTEM geophysics survey on the eastern half of the project and identified 40 conductors, 37 untested by drilling (see this ASX announcement for the full VTEM results). 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 40 conductors identified, have been ranked on the VTEM geophysics characteristics on a scale from 1 to 3. Combining the VTEM results (conductors) with a new litho-structural interpretation will allow Resolution to rank the geophysical results against geological context and logistical considerations.
Resolution Minerals has also undertaken extensive aeromagnetic surveys, Induced polarisation surveys, and drill testing to define a number of other cobalt-copper targets - including the prospective cobalt-copper systems at the Running Creek and Gregjo prospects.
STANTON COBALT RESOURCE
In 2017 the company has completed an extensive drilling program to update the known resource at the Stanton Cobalt Deposit to a JORC 2012 compliant resource of 1200 tonnes of contained cobalt.
|Key Commodity||Copper, Cobalt|