QUARTERLY ACTIVITIES REPORT (SEPTEMBER 2020)
Exploration 64North Project, Alaska
• Resolution Minerals Ltd (ASX:RML, Resolution or Company) focused drilling efforts on the West Pogo Block at the Aurora, Echo and Reflection Prospects, announcing results for five (5) diamond core drill holes.
• Encouraging results included an intersection of a 7m thick Pogo-style quartz vein in hole #7 (20AU07) at the compelling Aurora Prospect, adjacent to Northern Star’s (ASX:NST) high- grade Pogo Gold Mine and Goodpaster Discovery.
• Follow up drilling is planned to commence in early November on the Aurora Prospect to test grade variability along-strike and up-dip of the 7m thick Pogo-style quartz vein intersected at 20AU07.
• Airborne ZTEM geophysical surveys were completed over RML’s West Pogo Block (Aurora, Reflection and Echo Prospects) and Northern Star’s Goodpaster Prospect for comparison analysis and refining of drill targets.
• Airborne magnetic and radio-metric geophysical surveys were completed on a shared costs basis in collaboration with the Alaska Division of Geological & Geophysical Surveys over Resolutions West Pogo, LMS-X and Eagle Blocks.
• CSAMT & ZTEM geophysical surveys and surface geochemical surveys were conducted over the East Pogo Block, Boundary Prospect, with geochemistry assays and final processing of the ZTEM survey pending.
• At the Eagle Block, E1 Prospect: an access track was constructed and trenching work undertaken with assays expected in December.
• Further regional exploration, including geochemical surveys and mapping, with assays pending.
Exploration Australia• A desktop review of copper potential of the RML’s Wollogorang Project in the NT, which hosts the Stanton Cobalt Deposit, has commenced with results expected in November.
• Completion of a successful share placement and SPP which raised $5.1 million at 7 cents per share with 1:1 Option, including a strategic investment by Palisades Goldcorp, a North American gold fund, with experience in Alaskan projects.
• The Company has now deployed sufficient funds to complete the first year earn-in expenditure of US$5M and lock in a 30% interest in the 64North Project, Alaska.
• Appointment of new non-executive Director, Mr Craig Farrow, planned transition to Chair after the 2020 AGM.
• Fully funded exploration with news flow for the remainder of 2020.
• Virtual AGM to be held at 10:30am (ACDT) on 27 November 2020.