ASSAYS AND OPERATIONS UPDATE 64NORTH PROJECT (SEPTEMBER 10)

64North Auora Hole3

 

EXECUTIVE SUMMARY:

• Drilling has reached 422m on hole ID: 20AU07 at the 2km x 5km Aurora Prospect, the hole is designed to test a high priority target with a planned depth of 600m.
• Assays from Aurora drill holes 20AU03 and 20AU04 have indicated minor gold mineralisation is present in the system. The results will assist in vectoring in on additional targets.
• Geophysics results and initial ground follow up at the Boundary Prospect to be released next week.
• Fully funded exploration on multiple drilling targets with news flow for the remainder of 2020 after the recent $5.1m placement and SPP.

"The team and I are encouraged by the geological story unfolding at the Aurora, Reflection and Echo Prospects of strong alteration, presence of gold mineralisation, para-gneiss host rocks and presence of sulphides indicating the strong fertility of the system. While the team is disappointed by todays’ gold numbers, we are still encouraged that these holes intersected thick alteration zones that we interpret as the fluid pathways for a large mineralising system and further drilling will get us closer to potential high-grade “trap sites" of gold mineralisation. The team is working hard in the field to gather structural information from the drill core and this is crucial in unlocking the structural controls on mineralisation. We are only just starting on this project and I think there is a lot of upside to go and I look forward to the results of the rest of this years drilling programs."
-Managing Director, Duncan Chessell

 



Resolution Minerals is pleased to update investors with assays results from phase two of drilling on the Aurora Prospect and that the third phase of drilling for 2020 is well underway on the West Pogo Block adjacent to Northern Star’s (ASX:NST) Pogo Gold Mine, Alaska.

Status of Phase Three of Drilling West Pogo Block – Aurora, Echo and Reflection Prospects

Drilling production rates have improved throughout the year and high-quality structural data has been collected from orientated HQ core. The structural information learnt from the drilling is crucial in unlocking the structural controls on mineralisation and will be combined with assay data when it becomes available to enhance drill targeting. A surge in gold exploration in North America has resulted in longer time frames on return of assays from laboratories, the Company has taken steps to minimise time frames and will look to fast track the core from the Reflection Prospect.

Hole ID: 20AU07 – Aurora Prospect – currently drilling

A track mounted diamond core drilling rig has commenced the third diamond core hole at the Aurora Prospect for this phase of drilling (hole ID:20AU07). The hole is currently at 422m depth and is designed to a depth of ~600m and will test a NE trending structural zone. The hole is located on the central-northern edge of the Aurora prospect, proximal to an outcropping diorite intrusive and coincident with conductive rocks identified by the ZTEM geophysics survey. The Aurora Prospect is road accessible, which allows for year-round drilling.

Assay Results Hole ID’s 20AU03 and 20AU04

Assays from Aurora drill holes #3 and hole #4 indicate minor gold mineralisation as detailed below. The alteration observed in the drill core matched the CSAMT and ZTEM geophysics anomalies. The Company is encouraged by the strong alteration, presence of minor gold mineralisation, para-gneiss host rocks and presence of sulphides indicating the strong fertility of the system. We interpret that correct structural “dilation” event, or opening of “space”, to allow thick high-grade gold mineralisation did not occur at these locations. We conclude these holes intersected thick zones that were clearly the fluid pathways for a large mineralising system and further drilling will target potential high-grade zones of gold mineralisation.

Intervals Hole 20AU003
• 0.86m @ 0.35 g/t Au from 19m depth
• 0.86m @ 0.44 g/t Au from 423m depth

Intervals Hole 20AU004
• 0.78m @ 0.41 g/t Au from 522m depth
• 1.19m @ 0.76 g/t Au from 762m depth 

 

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