Resource Base to begin aggressive exploration program at Black Range this month
Resource Base plans to release an inferred JORC resource for Black Range based on previous data before the end of the year.
Resource Base (ASX: RBX) has started the process for its aggressive exploration program at the Black Range copper-gold and base metals project within weeks of its ASX listing last month.
Fender Geophysics has been engaged to undertake a geophysics campaign at Black Range which is located in what the company describes as the “well known and highly prospective” Stavely Volcanic corridor in Victoria’s northwest.
It is anticipated Fender will be on site to begin the survey by mid-month with the program expected to be completed in two weeks.
Resource Base executive chairman Shannon Green said securing Fender’s services places the company in an “enviable position” regarding its aggressive exploration plans.
“We look forward to working with Fender and establishing our drill targeting from this geophysical program for our priority target area between the Eclipse and New Moon prospects,” Mr Green said.
The geophysics program at Black Range will comprise resistivity/induced polarisation and gravity surveys.
Black Range project
Resource Base’s initial geophysical program will cover 4km of strike between Eclipse and New Moon prospects, with the aim of starting an aircore drilling program in the December quarter.
This will be followed with reverse circulation and diamond drilling in the March quarter next year.
Exploration will then expand to include other areas within the wider Black Range project including further geophysical and drilling campaigns.
Resource Base debuted on the ASX in mid-July after a $5.5 million oversubscribed IPO and acquiring Black Range from Navarre Minerals (ASX: NML).
Black Range covers 124sq km and hosts multiple, largely untested targets.
Navarre’s previous exploration concluded that a 4km long volcanic basin at the project has the potential to host copper-gold and base metal sulphide mineralisation.
Resource Base plans to release an initial inferred JORC resource for Black Range before the end of the year.
The resource will be based on existing geological data.