Resource Base all set to start Black Range exploration

ASX newcomer Resource Base is all set to start a large-scale geophysical program at its Black Range project in Victoria later this month.

This survey will test the priority target area between the Eclipse and New Moon prospects, a 4km strike of defined volcanic graben which hosts confirmed geochemical and mineralogical volcanic-hosted massive sulphide (VHMS) system characteristics.

Resource Base (ASX:RBX) expects the survey at the project within the well-known and highly prospective Stavely Volcanic corridor in northwest Victoria to take about two weeks to complete.

“We are excited to secure the services of a company of the calibre of Fender Geophysics and their ability to mobilise to site quickly places the company in an enviable position in regard to our aggressive exploration plans,” managing director Shannon Green said.

“We look forward to working with Fender Geophysics and establishing our drill targeting from this geophysical program for our priority target area between the Eclipse and New Moon prospects.”

Planning is underway for the company’s maiden drill program, which is expected to start in the fourth quarter of this year.

Black Range project

Black Range includes the recognised Eclipse copper-gold prospect where a supergene blanket of enriched copper mineralisation has developed above widespread copper, gold, and zinc mineralisation.

The company notes that this ore “blanket” along with the significant mineralogical, geochemical, petrological and geophysical anomalies noted within the Stavely Volcanic basal rocks, indicates the presence of a potentially significant VHMS within this specific location and surrounds.

Resource Base’s geophysical program consists of resistivity/induced polarisation and gravity work.

While VHMS mineralisation can be defined as generally more chargeable and less resistive than surrounding host rocks, historical data has indicated that no resistivity/IP work has been carried out in the area.

This survey has the capacity to be modelled with the previous works completed in 2009 and 2013 to the south and west of the area being tested so as to develop a full 3D model of this portion of the Staveley Volcanics.

VHMS deposits also have higher density than surrounding rocks and the gravity survey will be completed to accurately place any gravity disparities within the volcanic host rock sequence and to match this in with any Res/IP anomalies.

Besides the priority target area, Resource Base has also identified a number of targets across the full extent of the tenement that it will test part of its broader exploration strategy.

This article was developed in collaboration with Resources Base, 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.