Quarterly Activities Report
Adelaide, April 30, 2020 AEST (ABN Newswire) - Resolution Minerals Ltd (
ASX:RML) announced that it had commenced drilling on the compelling Aurora gold targets (Alaska) at the 64North project during the quarter.
The maiden drilling program commenced testing targets located close to the claim boundary with Northern Star (ASX:NST) and with significant geophysical similarities to NST's Goodpaster Discovery and the Pogo Gold Mine.
Highlights
- A 2,000m initial drilling program commenced during the quarter on high priority drill targets immediately adjacent to Northern Star's Goodpaster Discovery "2.3km strike open in all directions" (ASX NST Announcement 16/9/2019) within 450m of the RML claim boundary.
- The 64North Project surrounds Northern Star's Pogo Mine, which has produced 4 Moz gold @ 13.6g/t with an annual average of 300koz and a reserve/resource of over 6 Moz gold (ASX NST Announcement 19/9/2019).
- Completion of a successful share placement to raise $4.5 million for the 64North Project allowing for funding of exploration programs.
- Initial drilling results confirm the exploration model and will be invaluable in determining future drilling.
During the quarter, Resolution announced that the Company completed hole #1 to 462m depth and drilled to 194m on hole #2. Due to COVID-19 restricting movements of drilling contractors a decision was made to bring forward the planned spring thaw break and suspend drilling. Drilling is planned to recommence on the compelling Aurora Prospect in the second half of May to test our highest priority target.
Resolution announced that it had completed a share placement, supported by Joint Lead Managers, PAC Partners and Taylor Collison, to issue approximately 91 million new shares at an issue price of A$0.05 per share to raise $4.5 million with strong demand - funds raised to be used to advance the 64North Project.
To view the quarterly report, please visit:
https://abnnewswire.net/lnk/1YK35WO7
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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