Exploration Update - 64North Project Alaska
Adelaide, May 14, 2020 AEST (ABN Newswire) - Resolution Minerals Ltd (
ASX:RML) has received assays from the lower 1/3rd (323m to 462m) of recently completed hole #1; and all assays from hole #2 TD 194m (which is incomplete), at the Aurora Prospect.
The Company is pleased by the overall results from RML's first exploration drilling program, despite the program being cut short. Encouragingly the rock type, quartz veining, intense alteration and elevated arsenic, bismuth and tellurium correlating to gold in assays intersected in RML drilling, is typical of a Pogo-style IRGS mineral system.
Summary
- RML reports its results for the remainder of Hole #1 and all of Hole #2 completed at the Aurora Prospect, 64North Project, Alaska.
- Gold is reported from near surface and dispersed throughout the entire hole in Hole #1, and encouragingly the gold is associated with similar strong alteration in the same host rock as the nearby Pogo Gold Mine.
- The results of the first phase of drilling will be used to re-interpret our geophysics and assist in drill targeting and vectoring towards higher-grade gold zones.
- The Aurora prospect is a large-scale potential (2km x 5km) high priority target zone, with host rocks, surface geochemistry, structures and geophysical signature that make it a look-alike to the Goodpaster Prospect and Pogo Gold Mine.
- The Company will present the results of a highly encouraging regional review in the last week of May.
- RML plans to resume drilling on the Aurora Prospect in late May after spring thaw, with drilling expected to continue through to late July.
In March 2020 drilling was undertaken at the Company's first diamond drill hole (20AU001) to a depth of 462m. The holes were designed to test structural and geophysical signatures as an orientation to the project geology and potential flat lying Pogo-style mineralisation at depth.
Drilling was halted on the second diamond drill hole (20AU002) before reaching target depth of 600m (Figure 5) due to COVID-19 issues. Drilling is planned to restart on the compelling Aurora Prospect in late May on high priority targets, beginning with hole A6, which is located immediately north of 20AU001 (Figure 3 and Figure 4*). The Aurora Prospect is adjacent to the world-class high-grade operating Pogo Gold Mine.
The results of the drilling program confirm the exploration model and will be invaluable in determining future drill targets. The Company looks forward to the resumption of field operations and further drilling in the immediate future. The drill crew will quarantine on site and commence work, under a State of Alaska approved plan, as the mining industry has been declared an essential service.
Echo Prospect
RML's Echo Prospect in the north of the West Pogo Block is directly down dip from the Goodpaster Prospect and will be advanced in the coming summer field season (June-July) with infill geophysics to be drill ready for August (Figure 4* and Figure 6*).
Managing Director Duncan Chessell commented:
"These drill assays confirm a Pogo-style mineral system is present at RML's Aurora Prospect.
"We are pleased that on the first drill hole of the 64North Project our geology team has struck 11 gold-mineralised zones from near surface to the end of hole at 462m depth.
"The scale potential of both the Aurora and Echo prospects is compelling, and we look forward to drilling our high priority drill targets in the coming summer season."
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/1VDVL335
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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