Adelaide-based explorer Resolution Minerals (ASX: RML) has confirmed drilling has started at the Reflection prospect within its flagship 64North project in Alaska’s Tintina gold province, immediately adjacent to Northern Star’s (ASX: NST) Goodpaster prospect and Pogo gold mine.
Drilling is designed to test a west-dipping conductive unit at 220-550m depth, which is interpreted to be a potential repeat of Pogo’s Liese zone.
The hole is 1.6km northwest of Goodpaster, which Northern Star recently announced would be the focus of a $21 million resource delineation program in the 2021 financial year.
Resolution managing director Duncan Chessell said the Goodpaster mineralisation may continue through to Reflection and is expected to be significantly deeper than the conductive unit being targeted.
“We believe the west-dipping conductive unit is potentially a repeat of the greater Pogo trend from east to west,” he said.
“One of our technical team members was responsible for the Goodpaster discovery when it was held by Sumitomo and strongly supports the drilling of this target,” Mr Chessell added.
Earlier this month, Resolution drilled at the nearby Echo prospect within the compelling West Pogo block using a helicopter-supported diamond rig.
The hole was completed to a depth of 321m and intersected strong alteration zones as predicted by a previous geophysics survey.
Detailed logging and samples will be submitted for assay with results expected next month.
Fully funded exploration
Resolution remains fully funded for the remainder of this year’s exploration program over multiple drill targets, following a $5.1 million placement and share purchase plan in July.
The placement received cornerstone support from Canadian resource-focused merchant bank Palisades Goldcorp.
“Palisades’ strategic investment is a strong endorsement of the upside value they currently see in relation to 64North, which is located in the same region as Alaska’s giant gold deposits such as Fort Knox, Donlin, Pogo and Livengood,” Mr Chessell said.