Encouraging Gold Assays from Tourmaline Ridge
HIGHLIGHTS:
- Multiple gold bearing veins intersected in recent drilling at Tourmaline Ridge assay up to 6.7g/t Au and highlight the potential for discovery success on the 64North Project
- At Tourmaline Ridge Prospect, drill holes targeted a high-grade gold system similar to the 12 million oz Pogo Gold Mine, ~5km along strike
- All remaining assay results have now been received for all five (5) diamond drill holes for a total of 2,324m, completed in Q3, 2022 at the Tourmaline Ridge Prospect
- Best intervals include:
- Hole ID 22TR005: 1.0m @ 6.7g/t Au from 93m
- Hole ID 22TR003: 0.4m @ 4.6g/t Au from 414m
- Hole ID 22TR002: 7.0m @ 1.1g/t Au from 169m; and
- 0.9m @ 1.2g/t Au from 403m; and
- 0.6m @ 2.8g/t Au from 537m; and
- 2.1m @ 1.7g/t Au from 551m
- An Independent Geologist Review is underway on the 64North Project and is due for completion in early 2023 (announced 14 September 2022). Outcomes of the review, which will incorporate the latest drilling results, will drive the future strategy for advancement of the 64North Project
DETAILS:
Resolution Minerals Ltd (RML or Company) (ASX:RML) has received all outstanding (84%) gold assay results from the 2022 diamond drilling program at Tourmaline Ridge on the 64North Project in Alaska (ASX:RML Announcement 6/9/2022). The RML exploration team identified Tourmaline Ridge as prospective for hosting high-grade gold mineralisation and lies approximately 5km along strike from Northern Star’s (ASX: NST) 12Moz (*total endowment) Pogo Gold Mine and Goodpaster Deposit.
Tourmaline Ridge was identified as a high priority drill target after a thorough re-interpretation of the geological and structural models for the area, which showed that surface gold mineralisation represented narrow, antithetic hanging wall veins directly above a dilational, northwest-dipping Pogo-style shear (ASX: RML Announcement 8/6/2022). The five (5) completed drill holes are the first holes oriented to intersect the northwest-dipping shear at Tourmaline Ridge and ranged in depth from approximately 270m to 650m for a total of 2,324m. The holes span a strike length of over 1.2km of the Tourmaline Ridge gold geochemical anomaly. They are considered a preliminary test of the geological and structural model and gold mineralisation potential of the prospect.
Exploration Manager Christine Lawley commented:
"We are highly encouraged to see gold mineralisation up to 6.7g/t Au, with additional intersections exceeding 1g/t Au for widths of up to 7m, associated with flat lying (shear hosted) and high angled (antithetic) quartz veins, supporting our geological model for Tourmaline Ridge.
Based on these results, the technical team has now further improved its understanding on the controls for gold mineralisation, which, in conjunction with outcomes from the Independent Geological Review due to be completed in early 2023, will be applied to future drill targeting.
The presence of significant gold mineralisation across 4 of 5 drill holes indicates that a gold-bearing hydrothermal event has occurred across a wide area at Tourmaline Ridge. We know from our neighbour’s results, Northern Star, the first holes at the Goodpaster Deposit had similar grades and thickness to ours, followed up by the discovery hole only 140 metres away, running 4.7m @ 67.5g/t.
Potential still exists for even higher grades to occur within the Tourmaline Ridge Prospect and given the wide >300m spacing of drill holes, the exploration space remains for significant mineralisation."
