- Resource Base (RBX) begins aircore drilling at its Black Range project in northwest Victoria
- The 4000-metre program is aimed at confirming bedrock geology below shallow transported cover and testing geochemical anomalies over geophysical targets
- This drilling is expected to take around three weeks and will be followed by diamond drilling of deep bedrock targets in the first quarter of next year
- Resource Base has ended the day trading 11.1 per cent higher at 20 cents
Resource Base (RBX) has begun aircore drilling at its Black Range project in the highly prospective Stavely Volcanic corridor in northwest Victoria.
The 4000-metre program is aimed at confirming bedrock geology concealed below shallow transported cover and Grampians Sandstone units. Drilling is also testing the presence of geochemical anomalies over geophysical targets generated by recent survey work.
These geophysical targets are situated across the Eclipse Basin which is known to host volcanic-hosted massive sulphide (VHMS) mineralisation with potential for porphyry mineralisation.
“I am very pleased to be able to say that we are doing exactly what we said we would do which is, commence drilling in late 2021 following our geophysics targeting program,” Executive Chairman and CEO Shannon Green said.
“This is cost effective reconnaissance drilling, designed to narrow focus before diamond drilling. It is an extremely busy time in our industry and securing an air-core rig in our required timeframe was no easy challenge to overcome, but our team worked tirelessly to make this happen.”
The aircore program is expected to take around three weeks and will be followed by diamond drilling of deep bedrock targets in the first quarter of next year.
Resource Base ended the day trading 11.1 per cent higher at 20 cents.