Resolution Minerals Ltd. (RML, Resolution or Company) announced that all key conditions precedent set out in the Benmara Project binding heads of agreement have been met. The Farm-in agreement will allow RML and OZ Exploration Pty Ltd. (OZL) to fast-track the search for copper and other battery metals discoveries on Resolution's Benmara Project (Project), located in the South Nicholson Basin in the Northern Territory. RML is a first mover in the underexplored South Nicholson Basin, which has recently been identified as containing age-equivalent rocks to those that host several giant deposits in the region and possess great potential for the discovery of significant battery metal deposits.

RML's Benmara Project covers ~60km length of the prospective regional-scale Fish River Fault at the northern margin of the South Nicholson Basin, where the sediments onlap onto the Murphy Inlier. This is an ideal location for mineralized fluids to focus and precipitate metals in reductive trap sites, as evidenced by the formation of the Walford Creek Deposit held by Aeon Metals Limited, located some ~100 km to the east, within host rocks of the same age and similar structural setting. Exploration by RML has included an airborne VTEM Max survey that detected conductive zones consistent with a pyritic carbonaceous shale geophysical signature, an excellent trap site for copper or base metal mineralisation.

Follow-up RC drilling in 2021 intersected a 3km long, 1km wide, and up to 194m thick (open at depth) package of highly prospective pyritic carbonaceous shales and siltstone rock units. These rocks are considered Benmara Group, equivalent to host rocks for world-class regional deposits, such as the McArthur River (HYC Deposit), Lady Loretta, Walford Creek and Century Deposits. Assay results from the drilling also revealed anomalous Fe-Mn carbonate alteration and elevated thallium (Tl) trace element within the Benmara Group that is increasing in tenor eastwards towards the Fish River Fault.

There is a similar characteristic alteration halo around the HYC, Lady Loretta and Century deposits which is a strong indicator of proximity to base-metal mineralisation. With heritage clearances of the proposed drill regions recently completed, the geology team will be continuing desktop review and planning in preparation for drill testing in the 2023 field season. The technical team is a collaboration between Resolution Minerals and OZ Minerals geologists and geophysicists.