Resolution Minerals poised to drill 64North gold project adjacent to Northern Star’s Pogo mine
Resolution Minerals will be drilling targets with similar geophysical characteristics to gold discoveries at Northern Star’s adjacent landholding.
Resolution Minerals (ASX: RML) will kick-off drilling at 64North next month after securing Northern Star’s (ASX: NST) contractor Ruen Drilling to carry out a four week campaign at the Aurora targets within the project.
Drilling has been scheduled to begin early in the month and will involve 2,000m across four or five holes.
The focus will be the eastern Aurora targets which has the same geophysical characteristics and magnetic CSAMT signatures as Northern Star’s Goodpaster discovery and the mined Pogo deposit itself.
“Our immediate aim is to drill test for Pogo style mineralisation on a series of look-a-like size and geophysical features to Northern Star’s Goodpaster discovery and Pogo gold mine,” Resolution managing director Duncan Chessell explained.
“We are pleased to have secured Ruen for our maiden drilling program given their local experience of drilling conditions from neighbours Northern Star’s Goodpaster discovery,” he added.
It was also noted that Ruen has an “excellent reputation” for safety, production and local knowledge.
Initial assay results from the program are expected to be received within four weeks.
While drilling is underway, Resolution plans to continue assessing its 660 square kilometre project to build up a pipeline of drill targets.
After a recent $4.5 million capital raising, Resolution now has enough funds to complete “multiple” drilling programs.
64North gold project
Resolution is earning an 80% stake in 64North via an earn-in agreement with TSXV-listed Millrock Resources.
As part of the agreement, Resolution will spend US$5 million annually on advancing the project over four years to secure the first 60% interest.
Resolution is hoping to make similar discoveries to those Northern Star has made at its adjacent Pogo gold mine.
Pogo generates about 300,000 ounces of gold a year at an average grade of 13.6 grams per tonne.
The mine has reserves and resources exceeding 6Moz and has produced more than 4Moz of gold since operations began in 2006.