Resource Base Limited (ASX:RBX) has received positive results from the initial 1,800m of shallow air-core drilling at its Black Range project situated within the well-known and highly prospective Stavely Volcanics corridor 50km south of Horsham in western Victoria.
Results represent the first phase of systematic shallow drill testing of geophysical targets generated from its IP/Resistivity survey undertaken late last year.
“We are very encouraged with these initial early-stage results, the identification of commonly associated VHMS indicator elements at such shallow depths provides us further confidence that there is the high potential for discovering a major VHMS system at depth,” Executive Chairman and CEO, Shannon Green, said.
“Air-Core drilling is a relatively low-cost method to test targets, defined by geophysics or other exploration methods, to determine if the bedrock contains anomalous concentrations of indicator elements or has been affected by hydrothermal alteration, both of which are important to the development of gold and base metal deposits.
“Geochemical anomalism of mineralized structures can be extremely subtle so trace to ultra-trace level analysis of relevant elements is conducted at the assay laboratory to give reliable results to very low concentrations.
“Once identified, anomalous structures and stratigraphic horizons are systematically explored at depth by RC and diamond core drilling.”
The Nebula prospect has returned anomalously high trace levels of a suite of indicator elements including the following: Silver (Ag); Arsenic (As); Barium (Ba); Thallium (Tl); Tellurium (Te); and Copper (Cu)
Mr Green said these indicator elements are commonly associated with VHMS or epithermal style mineralisation which are similar to the association present in the Eclipse VHMS mineralization, some 700m to its West.
Next Steps
• Ongoing air-core drilling work at Nebula will track this horizon along strike and at depth in an attempt to vector toward Cu and Au deposition sites adjacent to the black shale horizon and within the volcanic footwall zone beneath it.
• Elsewhere across the tenement air-core drilling will continue to test geophysical targets and more regionally a combination of IP/Resistivity and air-core drilling will continue the search for additional targets along trend from Nebula and Eclipse and across the broader EL4590 tenement.
For further information please visit: https://resourcebase.com.au/
