Resolution and OZ team up on Benrama

Resolution Minerals has entered into a Farm-in and Joint Venture agreement with copper-focussed producer OZ Minerals for the Benmara Project in the underexplored South Nicholson Basin in the Northern Territory.

Resolution said the agreement was a validation of the company’s exploration strategy, which identified the potential for large-scale base metal deposits.

Chief executive officer Christine Lawley said 2021 reverse circulation drilling program and air-borne VTEM geophysics survey had identified large scale untested conductors and thick packages of up to 200-metre thick reductive shale units.

“These results proved the Benmara Project has a geological setting equivalent to other regional deposits such as the McArthur River Mine, Walford Creek and the Century Mine,” she said.

“This development should excite Resolution’s shareholders. The agreement makes it possible for Resolution to advance three major projects simultaneously: two having external funding from copper producer OZ Minerals at both Wollogorang and Benmara Projects. This minimises dilution for Resolution shareholders and creates three major opportunities for shareholder upside.

“While all eyes will be on drilling activities in June on our flagship 64North Gold Project in Alaska, do not underestimate the value creation being undertaken in Australia with significant drilling activities planned closer to home on our Northern Territory projects in 2022.”

About Ray Chan

Editor of industrial titles and mastheads with Prime Creative Media. Publications include Rail Express and Australian Mining (web content).

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