NEW HIGH PURITY SILICA SAND & URANIUM PROJECT

 READ THE FULL ASX RELEASE

 HIGHLIGHTS:

• Recently granted large land holding of 3,609km2 at the George Project is prospective for High Purity Silica Sands (HPSS) and Kazakhstan-style roll-front Uranium mineralisation
• High-purity silica sand Etadunna Prospect:
  • defined over 1km2 by historical drilling and remains open in all directions
  • ~34m thick, with hole D-6 intersecting 34m @ 99.87% SiO2 from 2m and open at depth
  • requires further drill sampling and a Scoping Study including metallurgical test work
• High-purity silica sand is in demand for an increasing number of industrial and technological products, with high-purity sand end-uses including the electric vehicle sector and solar panels
• Uranium: Rock chips up to 215ppm Uranium (U) demonstrate the potential for underlying Kazakhstan-style roll-front uranium mineralisation
• The region hosts Heathgate Resources’ operating Four Mile East Uranium mine in the Beverley region and other active explorers, including Alligator Energy and Tri-Star Minerals
• Further assessment of historical data and securing of land access is underway to advance the 2023 work programs for a high-purity silica sand Scoping Study and uranium exploration
• The 100% Company owned George Project complements Resolution’s new energy metals portfolio and provides RML with a low-cost opportunity to maximise

Chairman, Duncan Chessell commented

Resolution Minerals is delighted with the addition of the recently granted SA George Project with dual in-demand commodities of uranium and high-purity silica sands, complementary to the Company’s critical energy metals portfolio in a favourable mining jurisdiction.

Resolution generated the George Project in response to the looming energy crisis. We believe uranium will become a critical part of the solution to a net zero emissions future, as it will provide a clean, affordable and reliable baseload power source. The opportunity of near-surface HPSS was identified subsequently, by RML geologists as they assessed the George Project with a broader view of mineral prospectivity. The team recognised the significance of the HPSS in the context of increased commodity prices and the essential role played in the renewable energy sector.

Our Geology Team, alongside other exploration activities, will undertake a low-cost Scoping Study this year to assess the HPSS potential with drilling, laboratory test work and marketing to evaluate the economic potential. As HPSS is classified as an extractive mineral in South Australia, this could offer a relatively short timeframe for low-cost production.

READ THE FULL ASX RELEASE

 George Project, South Australia, with Etadunna Silica Sands Prospect and neighbouring Uranium mines.