64North Gold Project
Watch a 90sec Explainer and get the headlines of the 64North Project.
Resolution Minerals Ltd (ASX: RML) has entered into a binding term sheet with Millrock Resources Inc (Millrock or MRO) to acquire, via sole funding earn-in, a 60% interest over 4 years with a conditional pathway for up to 80% interest of the 64North Gold Project (formerly known as the Goodpaster Project).
The project lies within the Tintina gold province, Alaska, which hosts more than 100Moz in gold, including the massive 39Moz Donlin Creek deposit. The 64North Project surrounds Northern Star’s Pogo Mine which has a total endowment of 11 million ounces of gold and is currently operating. The Pogo Gold Mine has produced over 4M oz of gold to date at a rate of 300,000 ounces per annum at an impressive 13.6g/t Au.
A CSAMT geophysical survey has detected a high conductivity response directly along strike from a recent gold discovery on Northern Star's adjacent claims. The conductor appears consistent with a low-angle regional shear zone that is known to host the adjacent Pogo Gold Mine. This will be the immediate focus for Resolution Minerals, with drilling proposed to begin in the Q1, 2020.
The Initial exploration program for year 1, will aim to deploy 7,500m of diamond core drilling and utilise Lidar, field mapping, geochemical sampling and CSAMT geophysics surveys to unlock the structural controls and focus in on gold mineralisation on the West Pogo Prospect; as well as conduct regional work to identify further drill targets in this district scale system.
Watch MD Duncan Chessell discuss the 64North Gold Project (formerly the Goodpaster Project) with Small Caps.