Assays imminent for Resolution Minerals’ 64North gold project
Resolution Minerals is fully funded for resumption of drilling which is planned for the second half of May.
Resolution Minerals (ASX: RML) expects to have first assays at hand next week from the maiden drilling program at its Aurora prospect within the 64North project in Alaska.
It is anticipated the first assays will arrive next week and will be from hole one extending from surface to 323m.
A second batch is due a few weeks later and will comprise assays from hole one extending from 323m to 462m. This batch will also include hole two results from surface to 194m.
Fully funded for next drilling program
Once all assays have been received, Resolution will evaluate the results and update its Aurora drill program, which is scheduled to resume following the spring thaw in the second half of next month.
The company noted it was fully funded for the upcoming campaign and that all appropriately COVID-19 precautions will be in place.
Resolution managing director Duncan Chessell said he was looking forward to receiving the assays next week and the upcoming drilling program.
64North gold project
Resolution officially executed its option to farm into 64North late last year and is currently working towards earning a 60% stake in the asset by spending US$5 million annually over four years.
The asset’s attraction is its proximity to Northern Star Resources’ (ASX: NST) Pogo gold mine which as produced 4 million ounces of gold at an average grade of 13.6 grams per tonne.
Brownfields exploration at Pogo last year led to the Goodpaster deposit’s discovery, with Resolution’s 64North tenements along strike and immediately adjacent to the discovery.
At the end of March, Resolution confirmed a similar Pogo-style mineral system at 64North after visual inspections of the first drill hole showed the same host rock had been intersected.
“We are very pleased that Resolution has achieved the aim of our maiden drilling program, which was to successfully identify a Pogo-style mineral system on our side of the fence, pending assay results for final confirmation,” Mr Chessell said.