Resolution Minerals (ASX: RML) reports its first drill hole has intersected multiple gold zones at its 64North project in Alaska with characteristic gold-arsenopyrite-bismuthinite-tellurium geochemistry confirming the presence of a Pogo-style mineral system.
The company has received its first assays at the Aurora prospect within the project, which lies close to Northern Star Resources (ASX: NST)’s Pogo mine that has so far produced 4 million ounces of gold at an average grade of 13.6 grams per tonne.
Assays from lower levels are still to come, and this is just the first hole in a fully funded multi-hole exploration program.
Assays received so far show at least six gold zones, with the longest interval being 1.48m at 0.31g/t. The shortest is 0.12m at 0.94g/t.
The company said it is “highly encouraged” with the first results from its greenfields exploration program, given the presence of the classic Pogo-style geochemistry, rock type and alteration.
Resolution managing director Duncan Chessell told Small Caps the first hole is on the edge of the Aurora prospect and was chosen due to its close proximity to the access road and to test structural and geophysical signatures of the project geology.
“The results from the initial assays give us confidence that we have the right rocks on our side of the fence. Our next task is to vector in on the zones that contain higher grade gold,” he said.
The Aurora prospect covers 2km by 5km and is previously undrilled.
Aurora has been a priority target zone with host rocks, surface geochemistry, structures and geophysical signature that, in the company’s view, makes it a lookalike not only to Pogo but Northern Star’s Goodpaster discovery just 450m from Resolution’s tenement boundary.
More drilling after spring thaw
Resolution still has to drill its highest priority target at Aurora; this should begin in the second half of May, after the spring thaw.
Resolution is fully funded for the next drill program.
Drilling of the first hole began in early March and was a diamond drill hole down to 462m.
The assays received so far cover from surface to a depth of 323m.