Resource Base Limited has commenced trading on the ASX today with plans to kick off a geophysics program across its flagship Black Range project in Victoria’s highly prospective Stavely volcanics corridor. 

The aim is to identify the source in a known volcanic-hosted massive sulphide (VHMS) system found in historic work programs completed by Navarre Resources (ASX:NML) – a major shareholder in the company.

RBX’s (ASX:RBX) is excited about the prospectivity of the project area, which covers multiple, largely untested targets including the Eclipse, Lexington, Glenlyle and Pollockdale prospects.

“It’s an exciting jurisdiction, an exciting asset, and we’ve got the known system plus 100km of untested volcanics,” the company said.

The company is focused on quickly establishing an initial inferred JORC compliant resource from existing geological data within six months of listing.

Advanced asset in prime jurisdiction

The Stavely Arc is host to some of the world’s largest known porphyry copper deposits, with the Black Range project in a prime position, just north of the recent Thursdays Gossan copper discovery by Stavely Minerals (ASX:SVY).

“What’s exciting about the project is the location and the advanced nature of the asset,” the company said.

“Navare have done some drilling, they’ve located a VHMS system with anomalous copper-gold-zinc grades which all point to there being a larger source system somewhere in the vicinity – and we’re hoping to locate that source.”

Geophysics program planned

Navarre previously conducted an induced polarisation (IP) geophysical survey at the Eclipse, as well as a series of reverse circulation drill holes and a small diamond drill program (three drill holes for 1,497m) which intercepted anomalous gold, copper and other base metals.

RBX now aims to determine the potential size and scale of the entire project area and is in the advanced stage of planning a large-scale geophysics program which it hopes to begin shortly.

“The geophysics program will further map out the Black Range Eclipse prospect – which is the VHMS system – and then we will fly that across the whole package looking for the source of all this anomalous mineralisation,” the company said.




This article was developed in collaboration with Resource Base Limited, a Stockhead advertiser at the time of publishing.


This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.