Gold explorer Resolution Minerals (ASX: RML) has resumed the second phase of drilling at the large-scale, high-priority Aurora prospect within the 64North project in Alaska, with the first hole now complete.
The company said the first hole since March had been completed this week to a depth of 615m and was extended beyond the planned depth as “favourable geology”, including the targeted paragneiss rock, had been intersected.
The hole is located at the West Pogo Block, which is adjacent to the Pogo gold mine owned by Northern Star Resources (ASX: NST) which has a 10 million ounce gold endowment and is currently producing at a rate of 300,000oz per annum.
Resolution believes it is sitting on a Pogo look-alike project, as Aurora’s host rocks, surface geochemistry, structures and geophysical signature bear striking similarities to the giant mine.
“Encouragingly the rock type, quartz veining, intense alteration and elevated arsenic, bismuth and tellurium correlating with gold [at Aurora] are all typical of a Pogo-style gold system,” the company said.
“The geophysical targets correlate with zones of alteration and anomalous gold results, highlighting the large-scale potential of this prospect.”
Assays released in May further confirmed that Pogo-style mineralisation is present within the prospect.
Exploration to date at Aurora has validated geophysical survey data used to target the remaining holes in the campaign.
It has also allowed for an extension of drilling beyond planned depths to adequately test a shear zone intersected at 585m depth.
Drill targeting is being conducted by the 64North project technical team, comprised of geoscientists and consultants from Resolution and project partner Millrock Resources.
The team is continuing to assess all new results to optimise drill hole locations and maximise the use of funds.
Further holes have been planned at Aurora and will be tested in order of priority and re-ranking as results from ongoing drilling operations are processed.
The company said the next target in its drilling campaign would test a deeper conductor at up to 800m depth.
The conductor sits alongside an interpreted vertical feeder vein believed to be the conduit of mineralised fluids from depth and the source of rock chips grading up to 13.85 grams per tonne gold at surface at the historic Half Ounce Gulch prospect.
The company has interpreted the conductor to be the same paragneiss host rock as Pogo and believes it is highly-prospective for Pogo-style gold mineralisation.
Resolution is yet to make a decision regarding finishing a hole which was partially-completed in March when COVID-19 travel restrictions took hold.