Resolution Minerals Ltd (ASX:RML) is able to update investors with assay results of selected high priority zones for hole ID's: 20EC05 (hole #5) Echo Prospect, hole ID: 20RE06 (hole #6) Reflection Prospect and hole ID:20AU07 (hole#7) at the Aurora Prospect.
This was the Company's third phase of drilling for 2020 on the West Pogo Block adjacent to Northern Star's (ASX:NST) Pogo Gold Mine, Alaska. The location of the holes drilled so far this year on the West Pogo Block are shown in Figure 1*, along with the locations of the Echo, Reflection and Aurora target areas. Also depicted is the location of the Pogo Mine and the Goodpaster deposit located on claims owned by Northern Star Resources Limited (ASX NST, "Northern Star"). Northern Star has recently indicated that it intends to perform delineation drilling at Goodpaster with a $21 million dollar budget in the coming year and has commenced that program recently.
Echo Prospect Hole ID: 20EC05
Hole 20EC05 was drilled to test a strong, gently northwest dipping CSAMT conductor in a prospect area that is down dip and 3.3km from Northern Star's Goodpaster deposit. Numerous fault zones with some pyrite and strong dolomite-sericite alteration were intersected from 224m to 293m down hole. No anomalous gold results were returned from these zones.
Reflection Prospect Hole ID: 20RE06
At the Reflection prospect, hole 20RE06 was drilled to test conductive rocks in an area where an intrusive rock body was interpreted from airborne magnetic data, 1.4km due east from Northern Star's Goodpaster deposit. A fault zone with pyrite and arsenopyrite, locally with quartz breccia clasts, was intersected from 279.4m to 289.1m. Also, a zone of stockwork quartz mineralisation was intersected over 0.6 metres starting at a depth of 324.9m. The sulphide mineralisation zones did not contain any anomalous gold.
Aurora Prospect Hold ID: 20AU07
Drilled directly along strike from the Goodpaster deposit, hole 20AU07 intersected a zone of shallow-dipping quartz veining over a seven-metre interval starting at 488m down hole. The zone of veining is hosted by paragneiss and is within a sericite - chlorite - dolomite altered zone measuring 22m thick from 476m to 498m. The alteration and veining contains pyrite, arsenopyrite and pyrrhotite. The assay results show only weakly anomalous gold values.
Oriented drill core measurements indicate the vein dips gently at approximately 25-35 degrees to the west. It appears that the structural dilational event which gives rise to the space required for thick sulphide bearing quartz mineralisation to occur has "popped open" in this "central zone" on the northern edge of the Aurora Prospect. This dilational event was the missing ingredient from the other zones tested to date on the Aurora Prospect. The nearest holes are 670m to the west (hole#4) and 950m to the south-east (hole#3) and we believe there is significant exploration space to warrant a concerted effort at this "central zone."
We understand that in a Pogo-style system there can be large variations in grade and vein thickness within short distances and it is important to drill more holes into this immediate area to test for: grade variation, lateral extents of the vein and possible stacked sets nearby. The Company firmly believes further drilling in the central zone of the Aurora Prospect is warranted. Drill pads have been prepared as indicated with red dots in Figure 2* to give the geology team optionality as structural data is reviewed from the current drill hole. The central zone is 1500m by 750m in size and has the scale potential to host a significant resource.
The Aurora Prospect is road accessible, which allows for year-round drilling. Once firm timelines are established the Company will update investors with an expected date of resumption of drilling and further pertinent details. At this stage we expect to be drilling in early November subject to final confirmation from the drilling contractor.
Managing Director, Duncan Chessell commented:
"Although these results are below expectations, we know from quartz vein hosted gold systems generally and the Pogo Mine and Goodpaster Prospect, that there can be large variations in grade and vein thickness within short distances", and "The geology team is encouraged by the presence of the 7m thick quartz vein at Hole #7 and it is important to drill more holes into this immediate area to test for grade variation, lateral extents of the vein and possible stacked vein sets nearby."
*To view tables and figures, please visit:
About Resolution Minerals Ltd:
Resolution Minerals Ltd (ASX:RML) is a mining company engaged in the acquisition, exploration and development of precious and battery metals - such as gold, copper, cobalt, and vanadium.
The company is led by Managing Director Duncan Chessell and an experienced team with proven success in corporate finance, marketing, metallurgy and geoscience. This equips Resolution Minerals with the tools to meet the changing demands of the mining markets.
Resolution Minerals Ltd Listed on the ASX in 2017 with a focus on the exploration of the Wollogorang Copper Cobalt Project. It has since aquired the Snettisham Vanadium Project and more entered into a binding agreement witth Millrock Resources to earn up to 80% of the highly prospective 64North Gold Project.
Resolution Minerals Ltd Duncan Chessell T: +61-8-6118-7110 E: email@example.com WWW: www.resolutionminerals.com
Resolution Minerals Ltd
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