Resolution Minerals Moves Closer to Finalising Horse Heaven Project Acquisition

Resolution Minerals (ASX: RML) is set to fulfil a major condition of its prized Horse Heaven acquisition, with the company receiving a key approval from the US Forest Service for its proposed drilling program at the high-value precious and critical minerals project.

The upcoming campaign will test up to 57 holes from 19 drill sites along an existing road network for antimony, gold, silver and tungsten.

A major focus at Horse Heaven is its potential to play an important role in meeting the United States’ growing demand for a domestic supply of critical metals.

Phase 1 Drilling

Phase 1 of the program, expected to commence next month, will focus on 20 drill holes totalling approximately 20,000 feet at the Golden Gate target area.

“The receipt of this approval to conduct drilling operations is transformational for the Horse Heaven project and allows for the first new drilling at the project in over 30 years,” Resolution’s chief executive officer of US Operations, Craig Lindsay, said.

“Resolution Minerals is very excited to begin aggressively advancing Horse Heaven to confirm the presence of a gold resource at Golden Gate, expand known mineralisation and potentially identifying the presence of tungsten and antimony.”

Golden Gate Zone

The initial Golden Gate Fault Zone target has an approximate strike length of 3.5 kilometres and hosts known disseminated gold mineralisation.

The area has been the subject of several historical drilling campaigns that targeted shallow, oxide gold mineralisation but did not test for antimony and tungsten.

“Historically, the Golden Gate Ridge area has produced tungsten from both open pits and underground adits and an antimony anomaly has been identified that runs parallel to the Golden Fault Zone,” Mr Lindsay noted.

Final Steps

Resolution has reported that the potential vendor of the Horse Head project has completed the acquisition of 100% of the issued share capital of the project’s current owner.

The two remaining conditions Resolution needs to meet for the acquisition to proceed are to complete its due diligence and gain shareholder approval, which is being sought at the upcoming general meeting on 25 July.

Should these be satisfied, the company plans to commence drilling at Horse Head almost immediately.