Drilling Commenced at Echo and New Director Appointment
Adelaide, Aug 17, 2020 AEST (ABN Newswire) - Resolution Minerals Ltd (
ASX:RML) is pleased to announce the appointment of Mr Craig Farrow as an independent non-executive Director.
Summary Operations
- Drilling has commenced on the Echo Prospect (West Pogo Block) adjacent to Northern Star's Pogo Gold Mine and Goodpaster Prospect
- First Echo drill hole to test a 180m to 300m deep target zone (Figures 1 and 2*), as part of a planned 950 metre, helicopter supported, diamond drilling program
- Recently completed Hole #3 and #4 at the Aurora Prospect - assays due end of August
- A regional field program is underway during the current Alaskan summer field season with objectives of delineating drill targets at the Boundary and E1 Prospects, results pending
Corporate
- Appointment of new non-executive Director, Mr Craig Farrow, planned transition to Chair
- Fully funded exploration on multiple drilling targets and prospects with news flow for the remainder of 2020 after recent successful $3.6m placement and $1.5m SPP
Mr Farrow brings to Resolution a strong commercial background spanning multiple industry sectors over a 30 plus year career. Mr Farrow was a founding director of telecommunications business M2 Group, Chair since 2006, was instrumental in the merger between Vocus Communications and M2 Group Ltd in 2016 and continuing as Deputy Chair of Vocus until February 2018 (ASX:VOC). He has also served as Chair of ASX listed Companies Bulletproof Group (ASX:BPF) and Murray River Organics (ASX:MRG) and multiple unlisted board roles as both a non-executive Director and Chair.
Mr Farrow joins the Board and will transition to the role of Chair in the coming months as current Chair Mr Len Dean intends to retire after 50 years in the mining and exploration industry and will not stand for re-election at the AGM in November this year.
Mr Farrow is a Fellow of the Chartered Accountants Australia New Zealand (CAANZ), Australian Institute of Company Directors (AICD) and Australian Institute of Management (AIM) and holds a Diploma of Financial Services and Bachelor of Economics.
His appointment will be put to shareholders for ratification as an ordinary resolution at the 2020 Annual General Meeting of the company to be held in November.
The board would like to thank Mr Dean for his service as the founding Chair of Resolution Minerals, for guiding the Company through the IPO in 2017 (as Northern Cobalt) and then through the acquisition of the 64North Project in Alaska in 2019.
E2 Drill Hole - Echo Prospect
The Echo Prospect is located NW of Northern Star's (ASX:NST) Goodpaster Prospect (Figure 2*). The planned drill hole position has been optimised to test a CSAMT conductor, located on the periphery of an interpreted intrusive (i.e. coincident resistive and magnetic high) flanking a major structure. The CSAMT conductor is interpreted as a zone of potentially mineralised, hydrothermally altered country rock and the underlying intrusive as the causative heat and fluid source forming the alteration zone. The magnetic anomaly is likely due to a diorite intrusion, the presence of which is known to be spatially associated with gold mineralisation at the adjacent Pogo Gold Mine.
Managing Director Duncan Chessell commented:
"Very pleased to see the rig turning on the prospective Echo Prospect with the Pogo Gold Mine in the background."
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/905SL2NI
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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