Adelaide, May 17, 2021 AEST (ABN Newswire) - Resolution Minerals Ltd (
ASX:RML) (Resolution or the Company) is pleased to announce significantly thick gold mineralisation results from the recent Sunrise Prospect RAB drill holes at the Company's 64North Project in Alaska under an earn-in arrangement with project partner Millrock Resources (CVE:MRO).
Assay results have been received for all 27 holes from the Sunrise RAB drill program testing a 1400m east-west fence line of holes across the Sunrise Prospect to assess the scale and grade. The drilling identified a zone of thick gold mineralisation approximately 280m wide, open at depth and open to the north & south. Follow up "boots on ground" geology to commence shortly to identify potential further drilling targets and/or geophysics program(s).
Resolution's Managing Director - Duncan Chessell commented:
Resolution's Sunrise Prospect drilling results confirming the Fort Knox style of mineralisation has cast a new light on the 64North Project. It has highlighted the potential for the district to host multiple deposits of not only high grade Pogo-style, but the more classic Alaskan giant-size low-grade intrusion hosted Fort Knox style.
The current drill program only tested of the northern edge of the granite intrusion and we are now considering the best way to approach follow up drilling and/or trenching and geophysics across this large target area, as well as prioritising the sampling of multiple interpreted Fort Knox systems nearby that are very encouraging in light of these results. Fortunately, the Pogo Mine Road allows year-round access to these targets.
While we are planning the next move at the Sunrise prospect, our team in the field will make use the Alaskan summer to drill test the highest ranked prospect at the 64North Project - the East Pogo high-grade gold targets - in June.
Assay results
In April 2021 Resolution drilled 27 shallow (30m-75m deep) RAB holes along a 1400m long "fence-line" across the main surface geochemical anomaly to follow up the positive trenching results obtained in late 2020 at the Sunrise Prospect. See Page 3 and Page 4 representative section view and plan view diagrams of the Sunrise Prospect. A full list of significant assays is presented in Appendix 1a. Granite, the target rock type, was intersected in all holes and is illustrated on Page 3* in the section view diagram.
280m wide mineralised corridor
The assay results show eight (8) intersections >10m thickness of Fort Knox style mineralisation across a 280m wide corridor, open at depth and open to the north and south.
A total of 9 holes were drilled for 483m into this 280m corridor with 353m (73%) of assays reporting above cut-off grade of 0.1g/t Au. The same 0.1 g/t Au cut-off grade is used for the Fort Knox gold mine.
There is also a strong association of bismuth (Bi) with gold (Au) and the presence of Arsenic (As) is further corroboration that the gold is a Fort Knox style system. As RAB drilling was undertaken for this program, no drill core was produced so no structural information on vein thicknesses or orientation is available.
Next Steps
Sunrise
Resolution is planning to comprehensively review these results and conduct site visit(s) as the basis for planning future exploration activity including consideration of geophysics surveys, further trenching and/or follow up RC or Diamond Core Drilling at the Sunrise Prospect.
The new exploration space identified with these assay results in the immediate vicinity of the recently drilled Sunrise Prospect for potential further examples of Fort Knox mineralisation proximal to the Sunrise Prospect is highly encouraging. The Sunrise drilling results warrant a "boots on ground" response to undertake rock chipping and mapping and review of a number of historic prospects close to the Pogo Mine Road. Utilising modern geochemical analysis of the rock chips in the area will help identify other potential examples of Fort Knox style mineralisation on the 64North Project.
East Pogo RC Drilling
Drilling at the Company's highest priority target at the East Pogo Prospect will commence in early June, following up significant geophysical targets identified in 2020. The extensive CSAMT, ZTEM and Magnetics geophysical surveys were run over both East and West Pogo blocks in addition to overflying Northern Star's (ASX:NST) Goodpaster Discovery for comparison to East Pogo. See Figure 1* for location of East Pogo, Sunrise Prospect and the Pogo Gold Mine. A 2,000m helicopter supported drilling program has been planned and will continue throughout June 2021.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/A9S4NXJJ
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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