Initial Assays from Hole 1 - 64North Project Alaska
Adelaide, April 27, 2020 AEST (ABN Newswire) - Resolution Minerals Ltd (
ASX:RML) is highly encouraged by these first results from a green fields exploration program. The results confirm the exploration model and will be invaluable in determining future drilling.
Summary:
- Initial assays and logging of drill core increase confidence of a Pogo-style IRGS mineral system present at the Aurora Prospect, 64North Project - Alaska.
- Encouragingly the gold present is associated with strong alteration, with arsenopyrite (As) and bismuthinite (Bi) sulphide-bearing quartz veins with elevated tellurium (Te) and is present in the same host rock as the nearby Northern Star (ASX:NST) Pogo Gold Mine.
- These are the first results from the previously undrilled Aurora Prospect, which is a 2km x 5km high priority target zone, with host rocks, surface geochemistry, structures and geophysical signature that make it a look-alike to Northern Star's Goodpaster Discovery and Pogo Gold Mine.
- Resolution plans to resume drilling on the Aurora Prospect in the second half of May after spring thaw.
- Access will then be possible, enabling the drilling of the highest priority target on the Aurora Prospect.
- Assays pending downhole from 323m to 462m (Hole#1) and for Hole #2 are due in 2 weeks.
- Resolution is fully funded for the next drill program.
Resolution Minerals Ltd (RML, Resolution or the Company) has received (partial) assays from surface to 323m of recently completed hole #1 at the Aurora Prospect. In March 2020 drilling was completed at the Company's first diamond drill hole (20AU001) to a depth of 462m (Figure 6* and Figure 7*). The first hole was designed to test structural and geophysical signatures as an orientation to the project geology. Encouragingly the rock type, quartz veining, intense alteration and very high levels of arsenic and bismuth correlating to gold in assays intersected, support the sulphide mineralisation typical of a Pogo-style mineral system.
Due to spring thaw, drilling was halted and scheduled to recommence on the compelling Aurora Prospect in the second half of May. The Aurora Prospect is adjacent to Northern Star's world class high grade operating Pogo Gold Mine, see Figure 7* and Figure 8*. RML's continued drilling will pick up on the initial program that, due to logistical considerations, did not test our highest priority target, see Figure 1* and Figure 7*.
Managing Director Duncan Chessell commented:
"These assays increase our confidence that we are drilling in the right neighbourhood and confirm a Pogo-style mineral system is present at Resolution's Aurora Prospect. The large 2km x 5km scale potential of the target is compelling and we look forward to drilling across more areas of the target zone in the coming summer season and testing our highest priority drill targets.
"Our next task is to vector in on the zones that contain higher grade gold."
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/77360Z6B
About Resolution Minerals Ltd
Resolution Minerals Ltd (ASX:RML) is a mining company engaged in the acquisition, exploration and development of precious and battery metals - such as gold, copper, cobalt, and vanadium.
The company is led by Managing Director Duncan Chessell and an experienced team with proven success in corporate finance, marketing, metallurgy and geoscience. This equips Resolution Minerals with the tools to meet the changing demands of the mining markets.
Resolution Minerals Ltd Listed on the ASX in 2017 with a focus on the exploration of the Wollogorang Copper Cobalt Project. It has since aquired the Snettisham Vanadium Project and more entered into a binding agreement witth Millrock Resources to earn up to 80% of the highly prospective 64North Gold Project.
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