OUTCROPPING GOLD SYSTEM IDENTIFIED AND ASSAY RESULTS 2020
EXECUTIVE SUMMARY:
- Extensive outcropping gold system, Sunrise Prospect, returns 93m @ 0.29 g/t Au in surface trenching.
- Shallow RAB drilling can commence in March on the road-accessible fully permitted Sunrise Prospect.
- Aurora Prospect drilling intersected multiple quartz veins with no significant gold mineralisation.
- E1 & Sunrise Prospects trenching results are consistent with typical Fort Knox style mineral systems.
- The focus of drilling for 2021 will be the shallow high-grade potential East Pogo Block targets (previously announced)and the road-side shallow Sunrise Prospect intrusion hosted gold system.
SUMMARY OF RESULTS:
Sunrise Prospect, West Pogo Block
- Positive assay results as entire 137m of road-cutting samples return elevated gold, demonstrating a shallow intrusion hosted Fort Knox style gold system - typically a 0.1g/t Au cut-off grade is used for large Alaskan Deposits: highlights of RML’s 2020 surface trench sampling
- 93m @ 0.29g/t Au - including 27m @ 0.53g/t Au; max 1m interval of @ 1.89g/t Au; and
- 38m @ 0.14g/t Au.
- Fort Knox* gold mine currently produces 200k oz Au/year from a 2.8M oz Au @ 0.3g/t Au proven & probable mineral reserve, is owned by Kinross - located at the nearby city of Fairbanks.
- The Sunrise mineralisation falls within a broad 1100m x 400m, >25ppb Au historic soil anomaly adjacent to drill hole AGGP-1: 32m @ 0.28g/t Au from 9m including 0.5m @ 5.26g/t Au from 33m.
- Gold mineralisation is interpreted to be derived from a large-scale granite that extends 1km southwards. It is poorly exposed, partially covered by surface geochemistry and untested by drilling.
- Road-side shallow RAB drilling on an initial 25 hole, 3000m program will test the large-scale potential system and isplanned to commence in March 2021.
Aurora Prospect, West Pogo Block
- The last two (2) diamond drill holes (20AU08 and 20AU09) intersected multiple quartz veins following up the 7m thick quartz vein in hole #7. No significant assays were encountered.
E1 Prospect, Eagle Block
- Four trenches (716m) across highest priority structures intersected numerous gold mineralised zones consistent with a typical Fort Knox style mineral system (large tonnage, low grade)
- 12m @ 0.20 g/t Au in Trench ID: 20E1004 - including 3m @ 0.56 g/t Au; and
- 26m @ 0.10 g/t Au in Trench ID: 20E1002
- Further field work in the summer season to be undertaken to derive drill targets and explore the huge 10km2anomalous surface geochemical footprint and historic drilling of up to 14g/t Au.
"The solid work and extensive new data sets collected in 2020 has set RML up to drill test multiple highly prospective large scale gold drill targets on the 64North Project Alaska this year.
During 2020, we focussed on road accessible high-grade Pogo style gold targets on the West Pogo Block adjacent to the Pogo Gold Mine with a 5,000m diamond drill core program. Our team utilised advanced modern geophysics, achieving technical success - intersecting the target quartz vein on each of the last three diamond core drill holes. Disappointingly we ended 2020 without high-grade Pogo style success on West Pogo. Late in the season, when working along the Aurora Prospect access road we took the opportunity to assess the Fort Knox style, intrusion hosted gold potential, of outcropping granites on the Sunrise Prospect. The entire 137mof road-cutting samples containelevated gold consistent with an intrusion hosted gold system,which are typically mined with a 0.1g/t Au cut-off grade in large scale Alaskan Deposits, such as at the nearby 11.5M oz Au endowed Fort Knox Mine.
Today’s positive results at the Sunrise Prospect should not take away focus from the standout drill targets developed at the East Pogo Block, which has emerged as shallow (<150m) potential high-grade Pogo style mineralisation to be drill tested in Summer 2021.
The focus of drilling for 2021 on the 64North Project will be the shallow high-grade potential East Pogo Block targets (previously announced) and the road-side shallow Sunrise Prospect intrusion hosted gold system using cost effective RAB drilling."
- Managing Director Duncan Chessell
