Resolution Minerals Ltd Mr Duncan Chessell Managing Director T. +61 414 804 055 E. duncan@n27.com.au
To find out more about Investment Attraction in the Northern Territory contact the:
Investment Attraction Minerals and Upstream Energy Investment Australia’s Northern Territory Government Department of Trade, Business and Innovation T: +61 8 8999 1385 E: resources.investment@nt.gov.au
Located on the Northern Territory-Queensland border near the Gulf of Carpentaria, the multi-mineral Wollogorang project offers a potential source of battery metals from a supportive mining jurisdiction in a developed economy.
In addition to growing the project area by more than 340% through additional granted exploration licenses since it acquired the project in 2017, Resolution Minerals has expanded the project’s potential through an active drilling and geophysics program.
In 2018 the company announced an 88% increase to the JORC resource at Stanton, bringing the Indicated and Inferred Mineral Resource estimate to 942,000 t @ 0.13% Co, 0.06% Ni and 0.12% Cu, for 1,200 t contained cobalt.
The 100%-owned project area covers 4,986km2 of pastoral land, and includes numerous untested exploration targets as well as the Stanton deposit, the Running Creek prospect and the GregJo prospect.
The Wollogorang project lies within the extensive Palaeo–Mesoproterozoic McArthur Basin in the northeastern Northern Territory. The sedimentary basin forms the western extension of the Carpentaria Zinc Belt, which includes the Mount Isa region in Queensland. The Stanton and Running Creek deposits at Wollogorang comprise manganese-cobalt oxides such as asbolane, transitioning to cobalt-copper-nickel sulphides such as siegenite, within a matrix of the brecciated basalt of the Gold Creek Volcanics in the Basin.
Mineralisation in the area was first discovered by Mount Isa Mines Ltd which mined secondary copper from a small open pit in the 1930s. The prospects at Stanton and Running Creek were identified in the 1970s, and the area was subject to extensive drilling (257 drill holes for 21,468m) and exploration in the 1990s by CRA.
Since acquiring the project in 2017 Northern Cobalt has completed 127 reverse circulation and 10 diamond drill holes for 11,083m and 773m respectively. Significant results included 20m @ 0.31% Co from 27m.
2017 drilling intersected mineralisation outside the current Stanton resource boundary, and mineralisation remains open to the NW and S – SE. A second, deeper zone of mineralisation has also been defined. The company has acquired 3685 line-km of high quality magnetic and radiometric data.
Wollogorang is located 180km to the south-east of the town of Borroloola and 150km from the world-class McArthur River mine. Bing Bong, the major port servicing the McArthur River mine, lies approximately 200km from the project area. Access to the project is via a network of maintained unsealed roads.
The cobalt-dominant mineralisation at Wollogorang occurs from surface. This feature, and the project’s flat-lying sediment-hosted mineralisation offer the potential for low capex low opex open pit mining methods.
Resolution Minerals is seeking to add resources close to the existing Stanton deposit, building multiple assets to support the demand for copper, cobalt and nickel for batteries and emerging technologies.
A planned 2019 drilling program will build on promising 2018 copper and cobalt assays from the Running Creek and GregJo prospects, while employing low-cost techniques to evaluate numerous other targets.
Resolution Minerals has commenced work on a scoping study, with consultants engaged to prepare baseline environmental studies. Metallurgical testing is underway to investigate possible processing options.
The company is open to discussions with potential equity investors, farm-in or joint venture partners to progress the Wollogorang project to development.
