V-Ray Next Mixed Materials

I am currently trying to create a mixed material using a black and white image to differentiate between the text/symbols and the rest of the surface. However I am unsure what material to use in V-Ray Next to achieve this (such as Multi Material, Blend etc). As well as how to match the material to the UV Map applied to the solid object so the text/symbols align correctly in place.

You could use two basic Vray Mtl layer and use your map at the opacity slot of the upper layer like at my example.

And I apply a planar mapping over all buttons (select all during adding the mapping).

Thank you for taking the time to respond to this topic.

Would this method work the same way if I wanted to use one single material but differentiate between two different colours ? (Such as the text and exterior surface).

Sorry, I don’t understand the question. My example shows one single material with two different colors - blue text and yellow exterior.