Total
0
Shares
Resolution Minerals (ASX:RML) - Managing Director, Duncan Chessell
Managing Director, Duncan Chessell
Source: Resolution Minerals
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Resolution Minerals (RML) receives less than encouraging results from drilling at the East Pogo gold prospect within the 64North Project in Alaska
  • RML hasn’t intersected any significant gold values, however it has identified a 2000 metre by 1600 metre zone that it thinks may host gold mineralisation
  • The company has also observed strong pathfinder geochemistry towards the base of a hole but it had to be abandoned due to poor ground conditions
  • Resolution plans to conduct further drilling to test the target’s potential for high-grade gold
  • Company shares are down 19.2 per cent to trade at 2.1 cents

Resolution Minerals (RML) has received less than encouraging results from a recently completed drilling program at the 64North Project in Alaska.

The reverse circulation (RC) program targeted the East Pogo gold prospect which sits on a trend that’s positioned between the 11 million ounce Pogo Gold Mine and the Tibbs discovery.

Resolution drilled 12 holes, for 1663 metres, to test gold targets at a depth of between 50 to 190 metres.

While drilling intersected quartz-sulphide veining, the quartz veins didn’t contain significant gold values. Positively, Resolution identified a 2000 metre by 1600 metre zone that may host gold mineralisation.

Managing Director Duncan Chessell commented on the results.

“We identified dilation zones critical for gold mineralisation to form and multiple quartz veins bearing minor sulphides were intersected,” he said.
“While we did not receive near-surface gold results, the valuable data collected means we can now focus our efforts on a deeper target zone of 2000 metre-by-1600 metres.”

The company also observed strong pathfinder geochemistry towards the base of hole 21EP008. RML believes this indicates the potential of gold zones at depth. Unfortunately, this hole had to be abandoned before reaching the target depth due to ground conditions.

Resolution plans to return to this hole to effectively test the target for potential high-grade ‘Pogo-style’ mineralisation.

Company shares were down 19.2 per cent to trade at 2.1 cents at 10:16 am AEST.

RML by the numbers
More From The Market Herald
Future Metals (ASX:FME) - Director, Justin Tremain

" Future Metals (ASX:FME) intersects high-grade mineralisation at Panton

Future Metals (FME) has intersected high-grade mineralisation at its Panton Platinum Group Metal (PGM) project in Western Australia.

" R3D Resources (ASX:R3D) completes third hole at Tartana

R3D Resources (R3D) has completed the third diamond hole on the Tartana mining leases in Queensland.

" Centrex Metals (ASX:CXM) eyes $4m for work at Ardmore and key hires

Centrex Metals (CXM) has received firm commitments to undertake a $4 million share placement.
Auroch Minerals (ASX:AOU) - Managing Director, Aidan Platel

" Auroch Minerals (ASX:AOU) raises $8m to accelerate nickel exploration

Auroch Minerals (AOU) has received firm commitments to raise $8 million via a share placement.