Resolution Minerals (ASX: RML) has begun its maiden drilling program at the Benmara project in the Northern Territory with the campaign designed to test targets prospective for copper, silver, lead, zinc and cobalt.
The project is along strike of Aeon Metals’ (ASX: AML) Walford Creek deposit which has a resource of 40 million tonnes at 2% copper equivalent and contains 50,300t of cobalt.
In addition to copper, silver, lead, zinc and cobalt, Resolution noted the region was also prospective for uranium, with Benmara along strike of Laramide Resources’ (ASX: LAM) Westmoreland uranium deposit.
Resolution plans to evaluate uranium potential in its upcoming activities at Benmara.
Managing director Duncan Chessell said the project was underexplored and the company was “very excited” to now be drilling.
Maiden drilling program
The maiden drilling program at Benmara will comprise 2,500m and is expected to take three weeks to complete.
A recent versatile time-domain electromagnetic (VTEM) survey at Benmara identified large scale targets across 4km of strike that could potentially host copper mineralisation.
Resolution is testing the highest priority targets across this strike.
“With virtually no prior drilling conducted into these large-scale targets, we look forward to the results of this exciting opportunity and accelerating exploration,” Mr Chessell said.
Benmara project
Benmara covers 663 square kilometres of tenements on the Fish River Fault. It is close to Resolution’s other main project Wollogorang where major OZ Minerals (ASX: OZL) has the right to earn an initial 51% interest by spending $4.9 million on exploration over five years.
Resolution executed an agreement to acquire Benmara from Strategic Energy Resources (ASX: SER) late last year.
The company has the right to purchase the project outright by 14 December this year for $250,000 in cash or scrip.
As well as Walford Creek and Westmoreland, Benmara is close to other majors operating in the region including Teck Resources (NYSE: TECK), BHP Group (ASX: BHP), Rio Tinto (ASX: RIO), Redbank Copper (ASX: RCP), and South 32 (ASX: S32).
