64North Project - ASSAYS HOLE 1

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“These assays increase our confidence that we are drilling in the right neighbourhood and confirm a Pogo- style mineral system is present at Resolution’s Aurora Prospect. The large 2km x 5km scale potential of the target is compelling and we look forward to drilling across more areas of the target zone in the coming summer season and testing our highest priority drill targets.

“Our next task is to vector in on the zones that contain higher grade gold.”

- Managing Director Duncan Chessell


Executive Summary:

The company is highly encouraged by these first results from a green fields exploration program. The results confirm the exploration model and will be invaluable in determining future drilling.

  • Initial assays and logging of drill core increase confidence of a Pogo-style IRGS mineral system present at the Aurora Prospect, 64North Project Alaska.

  • Encouragingly the gold present is associated with strong alteration, with arsenopyrite (As) and bismuthinite (Bi) sulphide-bearing quartz veins with elevated tellurium (Te) and is present in the same host rock as the nearby Northern Star (ASX: NST) Pogo Gold Mine.

  • These are the first results from the previously undrilled Aurora Prospect, which is a 2km x 5km high priority target zone, with host rocks, surface geochemistry, structures and geophysical signature that make it a look- alike to Northern Stars Goodpaster Discovery and Pogo Gold Mine.

  • Resolution plans to resume drilling on the Aurora Prospect in the second half of May after spring thaw.

  • Access will then be possible, enabling the drilling of the highest priority target on the Aurora Prospect.

  • Assays pending downhole from 323m to 462m (Hole#1) and for Hole #2 are due in 2 weeks.

  • Resolution is fully funded for the next drill program.

Resolution Minerals has received (partial) assays from surface to 323m of recently completed hole #1 at the Aurora Prospect. In March 2020 drilling was completed at the Company’s first diamond drill hole (20AU001) to a depth of 462m. The first hole was designed to test structural and geophysical signatures as an orientation to the project geology. Encouragingly the rock type, quartz veining, intense alteration and very high levels of arsenic and bismuth correlating to gold in assays intersected, support the sulphide mineralisation typical of a Pogo-style mineral system.

Due to spring thaw, drilling was halted and scheduled to recommence on the compelling Aurora Prospect in the second half of May. The Aurora Prospect is adjacent to Northern Star’s world class high grade operating Pogo Gold Mine. RML’s continued drilling will pick up on the initial program that, due to logistical considerations, did not test our highest priority target, see Figure 1.

Hole1: 20AU001

The hole was designed test multiple structural targets and magnetic features not shown on the CSAMT section as well as the margin of the more conductive rock unit. Due to logistics it was drilled first while access to the next planned hole to the north was established. From surface the hole drilled through 5m of overburden and intersected predominantly biotite-quartz-feldspar paragneiss through to the end of hole. Logging indicates multiple zones of quartz veining with various orientations, thickness and vein density, as well as barren zones. The paragneiss is interpreted to be the same host rock as the Northern Star Pogo Gold Mine.

Assays and visual logging of drill core confirms a Pogo-style mineral system is present at Resolution’s Aurora Prospect area. Strong sericite and dolomite alteration are present in the biotite-quartz-feldspar paragneiss and are associated with sulphide-bearing quartz veins including arsenopyrite, pyrite, bismuthinite and pyrrhotite. Assays with high levels of arsenic (As) and bismuth (Bi) support the geological logging and correlation between Au-As-Bi is demonstrated on the strip log (see Figure 5) and is typical of a Pogo-style mineral system.