Resolution Minerals (ASX:RML) has a 2,000m diamond drilling program scheduled to begin in early August 2023 at its Benmara Battery Metals Project in the Northern Territory.
Drill targets are designed to test the Fish River and Bauhinia Faults, which provide an ‘ideal’ location for mineralised fluids to focus and precipitate metals in reductive trap sites.
The planned 1,000m-deep holes are stratigraphic in nature and have been positioned to provide a conceptual understanding of the rock units present at depth.
Resolution says this new data will contribute to the company’s and BHP (ASX:BHP) exploration teams’ comprehension of the underlying geology and regional prospectivity of the Benmara Project.
The drilling program is fully funded through a 10-year farm-in and joint venture agreement with BHP for the expenditure of up to $4 million in stages over 5 years for BHP to earn an initial 51% interest.
Further, Resolution was recently awarded $150,000 to go towards the program costs through the Northern Territory Government’s Geophysics and Drilling Collaborations program.
Commenting on the drill program, Resolution Minerals Exploration Manager Christine Lawley says: “We’re excited to have finalised our drill targeting and have commenced earthworks ahead of the drill rig arriving on site shortly.
The drill targets have been developed based on our knowledge of other battery metal occurrences across the Queensland border, including the Century Mine and the Walford Creek deposit.
“We’re excited to have finalised our drill targeting and have commenced earthworks ahead of the drill rig arriving on site shortly”
The open-source northwest mineral province deposit 3D Atlas, developed by the University of Queensland, has proved to be a valuable comparative resource for assessing the structural controls on potential mineralisation within RML’s tenements.”
The Benmara Project is in the South Nicholson Basin and covers an area of about 50km-square.
Resolution Minerals is a minerals exploration company engaging in acquisitions, exploration, and the development of precious and battery metals. The company’s key projects include the 64North, George, and Benmara projects.
As of 31 March 2023, the company had $987,000 cash and cash equivalents, according to its latest quarterly report published on 27 April 2023.
Write to Aaliyah Rogan at Mining.com.au
Images: Resolution Minerals Ltd