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

" Black Cat Syndicate (ASX:BC8) begins RC drilling at Coyote

Black Cat Syndicate (ASX:BC8) has begun reverse circulation (RC) drilling at the Coyote Gold Operation in…

" Sunshine Gold (ASX:SHN) begins RC drill program at Ravenswood West

Sunshine Gold (ASX:SHN) has begun a 4000-metre reverse circulation (RC) drilling program at the Ravenswood West…
Red Dirt Metals (ASX:RDT) - Managing Director, Matthew Boyes

" Red Dirt Metals (ASX:RDT) hits 214.55g/t gold at Mt Ida

Red Dirt Metals (ASX:RDT) has intersected up to 214.55g/t gold from its Mt Ida Lithium Gold…
The Market Herald Video

" Evolution Mining (ASX:EVN) downgrades FY22 group production guidance

Evolution Mining (ASX:EVN) has provided an updated on expected performance for the 2022 financial year and…