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Resolution Minerals (ASX:RML) - Managing Director, Duncan Chessell
Managing Director, Duncan Chessell
Source: Resolution Minerals
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  • Resolution Minerals (RML) identifies 40 conductors via a versatile time-domain electromagnetic (VTEM) survey at the Wollogorang Project
  • The survey was undertaken to detect sub-surface conductive anomalies and the conductors have now been ranked on their characteristics
  • Four have been classified as strong late-time anomalies, 13 have been classified as good mid-time anomalies and 23 have been classified as moderate mid-time
  • Resolution is now prioritising drill targets and will update the market as work progresses
  • Shares in Resolution are steady on the market and trading at 2.7 cents at 10:32 am AEST

Resolution Minerals (RML) has identified 40 conductors via a versatile time-domain electromagnetic (VTEM) survey at the Wollogorang Project.

The Wollogorang Project lies in the northeast of the Northern Territory and is prospective for near surface sedimentary-hosted cobalt and copper mineralisation.

While it is underexplored, it lies in the highly prospective McArthur Basin and is surrounded by area held by Rio Tinto (RIO), South 32 (S32) and BHP (BHP).

The VTEM survey was undertaken to detect sub-surface conductive bodies and the conductors have now been ranked on their characteristics.

Four of the conductors have been classified as strong late-time anomalies, 13 have been classified as good mid-time anomalies and 23 have been classified as moderate mid-time anomalies.

Resolution is now prioritising drill targets and will update the market as work progresses.

Managing Director Duncan Chessell said these results are better than expected and is excited to see what drilling could find.

“Resolution’s geology team has taken a fresh approach to the project using a wide-spaced, powerful VTEM max geophysical survey. It’s paid off with these better-than-expected VTEM geophysics results,” Mr Chessell said.

“What has us most excited now, is that the VTEM has generated dozens of untested new targets. This has created an opportunity for Resolution to undertake a first pass assessment on the potential for the Wollogorang Project to host sediment-hosted stratiform copper mineralisation associated with VTEM derived anomalies.”

Shares in Resolution were steady on the market and trading at 2.7 cents at 10:32 am AEST.

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