Resolution Minerals continues drilling for gold at compelling West Pogo block targets
New Canadian-based resources merchant bank Palisades Goldcorp is leading the $3.6 million placement in Resolution Minerals.
South Australia-based Resolution Minerals (ASX: RML) reports that a third phase of drilling at its flagship 64North project in Alaska continues to investigate compelling targets within the West Pogo block.
A hole at the Reflection prospect was completed to a depth of 553m, to test a target zone interpreted to be a potential repeat of the Liese Zone at Northern Star’s (ASX: NST) nearby Pogo gold mine and adjacent Goodpaster discovery.
It was drilled using a helicopter-supported diamond core rig and detailed logging of core samples is now underway.
Resolution said it would report assays once available.
Aurora target
Drilling has also commenced at the Aurora target using a track-mounted rig to test a north-east trending structural zone along strike from Goodpaster.
The zone is located on the central-northern edge of the prospect proximal to an outcropping diorite, and coincides with conductive rocks identified by a recent ZTEM geophysical survey.
The hole will be the third and final one for this phase of drilling.
Resolution said assays from two holes at Aurora had been delayed due to mechanical issues at its laboratory and demand for assays on the back of a recent US surge in gold exploration.
Structural data
Drilling production rates at the West Pogo block, in Alaska’s Tintina gold province, have improved since the start of the year, with high-quality structural data collected from orientated HQ core.
Resolution said the information would be valuable to unlocking the structural controls on mineralisation at 64North and will be combined with assay data to enhance drill targeting.
The company remains fully-funded for 64North exploration activities over multiple drill targets following a $5.1 million placement and share purchase plan in July.
Rich gold province
The rich Tintina gold province hosts more than 80 million ounces gold, including the high-grade 45Moz Donlin Creek deposit being jointly developed by Canadian companies NovaGold and Barrick Gold Corporation.
The 64North project sits within the province, surrounding the Pogo gold mine which has a total endowment of 10Moz gold and is currently producing at a rate of 300,000oz per annum.
A recent geophysical survey detected a high conductivity response from 64North’s acreage, directly along strike from Goodpaster.
Resolution said the conductor appeared to be consistent with a low-angle regional shear zone known to host the Pogo mine.
Temporary suspension
In March, Resolution’s 64North joint venture partner Millrock Resources announced it would temporarily suspend drilling at Aurora due to risks associated with COVID-19.
“While it is disappointing to have to curtail the drilling program, the safety of our people is always paramount,” Millrock said at the time.
“The first drill hole of this program intersected significant quartz veining with pyrite and arsenopyrite with trace amounts of bismuthinite.
“These sulphide minerals are often associated with gold in the area and we will await the assay results with great anticipation.”