OPERATIONS UPDATE AT 64NORTH PROJECT
“We are very pleased that Resolution Minerals has achieved the aim of our maiden drilling program, which was to successfully identify a Pogo-style mineral system on our side of the fence, pending assay results for final confirmation.
“From these very early visual signs, it’s exciting to see we have intersected the right host rocks, with strong alteration and sulphide-bearing quartz veins - demonstrating we have potentially drilled into a large Pogo- style system.”
Managing Director Duncan Chessell
- Initial visual observations and logging of drill core confirms a Pogo-style mineral system is present at Resolution’s Aurora target area.
- Strong alteration associated with typical sulphide-bearing quartz veins are present in the same host rock (paragneiss) as per the Northern Star Pogo Gold Mine (assays pending.)
- The geology found in hole 1 aligns well with geophysical interpretation used to develop the targets
- Drilling has been completed at the Company’s first diamond drill hole (20AU001) to a depth of 462m and has
- reached 194m (planned depth 600m) on the second drill hole (20AU002).
- Detailed logging, cutting and sampling is currently underway. Logging and sample preparation for assay has been completed to ~303m on hole 20AU001.
- The USA has deemed assays laboratories as part of “essential infrastructure” allowing RML to reasonably expect assay results in approximately 4 weeks utilising ALS Laboratories in Alaska and Nevada.
- Our drilling contractor has staff based in the lower 48 states of the USA and has elected to remove their crew from site due to travel bans and COVID-19 related concerns.
- Resolution plans to resume drilling in mid-May after spring thaw and the COVID-19 situation becomes clearer, this is most likely to be with an Alaskan drill contractor to minimise travel restrictions and costs.
- Resolution is fully funded for multiple drill programs following the recently completed $4.5 million capital raise, with strong demand from institutional and sophisticated investors.
Resolution Minerals is pleased to announce that the Company has completed hole #1 to 462m depth and has drilled to 194m on hole #2. Due to COVID-19 restricting movements of drilling contractors a decision has been made to bring forward the planned spring thaw break and suspend drilling. RML has rescheduled the drilling program until mid-May on the compelling Aurora Targets located close to the claim boundary with Northern Star (ASX:NST) and with significant geophysical similarities to NST’s Goodpaster Discovery and the Pogo Gold Mine.
Hole ID 20AU001 (hole 1) boxes 59 and 60 whole core; depth 126.42m to 130.37m quartz veining in paragnesis.