HIGH PRIORITY GOLD DRILL TARGETS DEFINED - 64NORTH PROJECT, ALASKA
WATCH Interim-CEO, Christine Lawley discuss the exploration update
- New ground geophysics (ELF-EM) results at Tourmaline Ridge support high priority, drill targets along 1km strike length of an interpreted Pogo-style shear system
- Five targets have been prioritised based on a structural interpretation for a Pogo-style shear and cross cutting north-south faults, considered most prospective for focussing high-grade gold mineralisation
- All drillholes fall within a significant 1800m x 750m gold-in-soil anomaly and drill targets are further supported by proximal rock chips up to 118 g/t Au and trenching results up to 4.8 g/t Au
- Five diamond holes are planned, each ranging between 200-550m in length with drilling to commence in late June and take approximately six weeks
- Resolution is fully funded to complete the 2022 Alaskan field season after the recent $1.9m capital raise and announcing a 2nd significant ($4m) farm-in agreement with OZ Minerals on Projects in Australia*
"Tourmaline Ridge is a must drill, stand out gold target, motivating our team to continue working hard in the lead up to executing the planned 5 hole, 2200m diamond drilling program set to start in only a few weeks. Logistics and planning are now in the final stages and we can’t wait for the drill to start turning.
We are very pleased to see that the ELF-EM ground geophysics survey results support our geological model for hanging wall gold mineralisation positioned above a Pogo-style gold system. The geophysics has allowed us to refine our drill hole design, which will cover a 1km strike and 600m change in elevation across the targeted dilational Pogo-style shear, which underlies the 1800m x 750m gold-in-soil anomaly.
Our understanding of the mineral system has continued to grow with further data analysis. The numerous north-south dilational faults, which cross-cut the shear are interpreted to be a primary focus for the gold bearing fluids at Tourmaline Ridge."
- Interim-CEO / Exploration Manager, Christine Lawley
Resolution Minerals (RML) is pleased to announce that the Company has completed the ELF-EM ground geophysical survey at Tourmaline Ridge. Furthermore RML has processed the results, refining and supporting compelling drill targets that are highly prospective for high-grade gold mineralisation adjacent and along trend from the Pogo Gold Mine and Goodpaster Deposit owned by Northern Star (ASX:NST) at RML’s 64North Project in Alaska.
The ELF-EM modelling further support previous trenching results (RML ASX announcement 28 April 2022), in which gold mineralisation links have been observed between the trenching assays and historical drill data. The trenching assay results confirm Resolution’s 3D geological model for the surface expression at Tourmaline Ridge, representing antithetic hanging wall veins, which RML believes to sit directly above the interpreted dilational northwest dipping Pogo-style shear, with a high probability of hosting significant gold mineralisation.
Resolution is very pleased with the outcome of the ELF-EM ground geophysical survey and the implications for potential high-grade Pogo-style mineralisation. Resolution looks forward to drill testing this highly prospective Tourmaline Ridge Prospect, scheduled to commence in a matter of weeks.
Earthworks are about to commence to access and install drill pads ahead of a late June start to the ~2,200m, 5-hole diamond core drill program. In addition, a regional exploration at the East Pogo claims will be undertaken to refine drill targets at the Miranda and Last Chance prospects to drill ready status.
The planned drill program at Tourmaline Ridge will take approximately 6 weeks to complete, and selective samples will be cut and transported to laboratories outside of Alaska for optimised turn-around times. As part of the drilling program, Resolution will upgrade access tracks to enable follow up winter drilling, in anticipation of the summer season results. Once the tracks are completed in June, the Tourmaline Ridge Prospect can then be progressed all year round, using Resolution’s tracks and the all-weather Pogo Gold Mine road maintained by the operator Northern Star (ASX:NST). This provides a significant infrastructure advantage over the majority of Alaskan mineral exploration projects, which are unable to operate continually due to seasonal access constraints.
The Company will provide an update to the market upon the commencement of drilling in late June.
READ THE FULL ASX RELEASE HERE