QUARTERLY ACTIVITIES REPORT (SEPTEMBER 2023)
Resolution Minerals has been busy over the September Quarter.
The Geology Team was engaged in a major drilling campaign on the Benmara Project in the Northern Territory with the assistance of our partner BHP Limited. The team must be congratulated on the completion of the drilling in a very remote location without any incident. Performing exploration safely and in an environmentally sensitive manner is a critical element of our culture and how we work. We look forward to receiving and evaluating the results of the drilling before the end of 2023.
Although a relatively small transaction, the completion of the sale of the Wollogorang Project in the Northern Territory to NT Minerals represents an important step for the company. As an exploration company Resolution needs to manage its portfolio of projects in the most efficient manner to maximise its capital and focus the time of its team on the projects most likely to deliver a discovery, and hence value to shareholders. It was considered that the Wollogorang Project was not the highest priority, so it was time to seek an exit and deploy the company’s resources elsewhere.
The Allegra Nickel Project in Alaska is a major addition to the Company’s critical energy metals portfolio. The Company has strong experience working in Alaska and the Allegra Project is a great addition to the portfolio with its prospectivity for lower grade but high tonnage nickel sulphides. The Cararra Project in the Northern Territory also provided some exciting rock chip results for Manganese following some preliminary early stage work on the granted tenements.
I look forward to sharing the next steps in our journey to discovery success with you.
- Chris McFadden