DETAILED RESEARCH REPORT BY PAC PARTNERS
Pac Partners recently published a detailed analysis of Resolution Minerals and the 64North project.
You can read the full 19 page report here or if you are short on time then the key take-aways are:
- RML has entered into an agreement to earn 60% of the highly prospective 64North Project in the shadows of the world class and high grade Pogo Gold Mine in Alaska. The earn-in agreement with Canadian explorer Millrock Resources Incorporated (MRO.TSXV) allows for a staged earn-in to 60% ownership of the full 660 square kilometre tenement package by fully funding exploration activities until the end of 2024. RML have the option of increasing ownership up to 80% of a single project within the 64North tenement package should an economic resource become a gold producing asset.
- A genuine nearology play. The 64North project lies within the Tintina gold province with a gold endowment exceeding 70moz andcompletely encircling Northern Star Resources Limited’s (NST) Pogotenement package. The Pogo mine is the 8th largest gold mine in the United States and boasts a production history of 4moz since commercial production commenced. Pogo produces 200-240kozpa and has an estimated JORC resource of 5.95moz with a grade of 9.6g/t.
- Targets identified. Soil sampling and magnetic surveys have identified potential and promising pogo style mineralisation down strike from the recently discovered Goodpaster deposit by NST. Goodpaster is 2.5km from the 64North tenement boundary and 5km from the identified Aurora prospect. The Goodpaster deposit remains open in all directions and recent intercepts as announced by NST of 2.1m @44.5g/t, 2.2m @28.1g/t and 8.1m @5.0g/t are sure to provide excitement and encouragement to RML. A further prospect, Echo has been identified along trend of Pogo/Goodpaster.
- Enough cash to test the waters. RML have recently raised $6m viashare placements, enough to fund the majority of 2020’s explorationactivities at the Aurora prospect. Drilling is expected to commence in March 2020 with assay results from the first phase of drilling set to be announced in Q2 2020.