Junior explorer Resource Base (ASX: RBX) has completed its first geophysical survey program at the Black Range copper-gold project within the highly-prospective Mt Stavely Volcanic Complex in southwest Victoria.
The gravity and induced polarisation (IP) / resistivity survey was designed to test a priority target area between the Eclipse and New Moon prospects, over a 4 kilometre strike of defined volcanic graben.
The area has been confirmed to hold the geochemical and mineralogical characteristics of volcanic-hosted massive sulphide (VHMS) systems.
Preliminary results have identified a number of IP and resistivity features which will be targeted in the company’s search for copper, zinc, lead, gold and silver.
The results will be combined with previous geological work and used to establish priority targets for a maiden diamond drilling program at Black Range.
Resource Base executive chairman and chief executive officer Shannon Green said the survey was a milestone event for the company.
“The completion of our first geophysical survey program is a tremendous step forward for us,” he said.
“It has identified numerous prospective drill targets as we move forward [at Black Range] and our team [deserve recognition for] planning and executing this program so quickly.”
Mr Green said plans were now underway for initial aircore drilling to confirm the bedrock geology hidden below shallow transported cover and Grampians Sandstone units.
The work will also aim to identify the presence of slight geochemical anomalies over geophysical targets; and determine vital geological and mineralogical data to be used in planning the maiden program.
IP surveys are used in the search for VHMS and porphyry-style deposits as they are able to map the distribution of metal-sulphide minerals hundreds of metres below the ground surface.
Mr Green said preliminary gravity data from the survey had helped Resource Base understand the geology of the Eclipse prospect area.
Combined interpretation of IP / resistivity, gravity and magnetic geophysical datasets has identified a new zone of interest on the western margin of the Eclipse Basin which has been considered “extremely interesting”.