Resolution Minerals (ASX: RML) has advanced its Horse Heaven antimony-tungsten-gold-silver project in Idaho through a quarter of high-grade results, infrastructure acquisition, metallurgical progress, and preparation for a major drilling campaign.
The company’s 100%-owned project now combines high-grade antimony at Antimony Ridge, broad gold and tungsten mineralisation at Golden Gate, and the Johnson Creek mill and stockpile infrastructure.
Post-quarter developments added further momentum, with Antimony Ridge receiving FAST-41 permitting support, high-purity antimony trioxide produced from project material and a $20 million institutional placement completed to accelerate work programs.
Resolution also lodged a registration statement with the US Securities and Exchange Commission for its proposed NASDAQ listing and established a Level 1 American Depositary Receipt facility to support US investor access.
Horse Heaven the Main Focus
Resolution directed its March quarter activity toward exploration, metallurgical test work and project development planning at Horse Heaven.
US operations chief executive officer Craig Lindsay said results continued to demonstrate the scale of the Golden Gate system and the broader opportunity emerging across the project.
“The combination of high-grade antimony at Antimony Ridge, a growing gold system at Golden Gate, and the addition of processing infrastructure at Johnson Creek positions the Company to advance a compelling US based critical minerals platform,” Mr Lindsay said.
“With a major drilling program about to commence and further technical work underway, we are focused on building on this momentum through 2026.”
Antimony Ridge Results Support Scale
Rock sampling at the historical Antimony Ridge mine returned high-grade antimony, silver and gold results that support Resolution’s interpretation of a large polymetallic system.
Five massive stibnite samples returned grades ranging from 31.7% to 48.7% antimony, with elevated silver and minor gold values.
The company also collected about 100 kilograms of representative material for metallurgical test work and submitted samples to external laboratories for initial characterisation and processing assessment.
Subsequent 3D modelling identified about 30 discrete mineralised vein swarms, fault breccias and stockworks across an area of about 1,000 metres by 700m and 250m vertically.
FAST-41 Adds Permitting Support
Antimony Ridge was selected after the quarter for FAST-41 permitting support under the US Federal Permitting Improvement Steering Council framework.
The pathway is expected to support more efficient permitting and assist planned bulk sampling activities.
Resolution also produced high-purity antimony trioxide from Antimony Ridge material after the quarter.
Metallurgical work is continuing across pyrometallurgical and hydrometallurgical processing pathways as part of the company’s downstream development strategy.
Golden Gate Drilling Confirms Gold System
Final assays from Resolution’s 2025 drilling program at Golden Gate confirmed broad zones of gold mineralisation at Golden Gate North and Golden Gate South.
All reported holes intersected gold mineralisation and several ended in mineralisation, leaving the system open at depth.
The results support an interpretation of near-surface, laterally continuous mineralisation with scope for expansion along strike and at depth.
A new gold discovery at Golden Gate South also helped define mineralisation over about 1.5km of strike linking Golden Gate North and Golden Gate South.
Tungsten a Second Golden Gate Target
Golden Gate also returned significant tungsten mineralisation during the drilling program.
One hole intersected 8m at 0.14% tungsten from 79.3m within a broader 21m interval at 0.80 grams per tonne gold.
The result adds evidence that Golden Gate hosts a multi-commodity system containing both gold and tungsten within the broader mineralised envelope.
Resolution has planned a Phase 2 diamond drilling program of up to 13,700m across as many as 45 holes to test extensions along strike, at depth, and between the northern and southern zones.
Johnson Creek Acquisition Adds Infrastructure
Resolution completed the acquisition of the Johnson Creek tungsten and antimony mill and associated infrastructure during the quarter.
The acquisition includes processing facilities, supporting infrastructure and historical tungsten stockpiles estimated at about 2,000 tonnes.
Preliminary mapping and sampling of the stockpiles returned a composite mini-bulk sample grading 1.85% tungsten trioxide and 0.11g/t gold.
Mineralogical analysis confirmed scheelite as the primary tungsten-bearing mineral, while further sampling and test work are planned to assess the stockpile material under the JORC Code.
Funding Supports Accelerated Work
Resolution ended March with $8.17m in cash and cash equivalents after spending $2.597m on exploration activities during the quarter.
That exploration expenditure largely related to Horse Heaven drilling preparation, the mill and tungsten stockpile acquisition and technical consultant labour.
After the quarter, Resolution completed a $20m placement backed by institutional and sophisticated investors, including cornerstone support from Tribeca Investment Partners and L1 Capital Global Opportunities Master Fund.
The funds will support drilling, metallurgical test work, permitting activities, and working capital as Resolution advances Golden Gate toward a targeted maiden mineral resource estimate in the first quarter of 2027 and continues Antimony Ridge development work.
