Resolution Minerals Ltd: Aurora Drilling Update 64North Project Alaska
- Drilling has been completed at hole #7 (20AU07) to 712m depth at the Aurora Prospect.
- Encouragingly a shallow dipping 7m thick quartz vein was intersected from 488m in hole #7 as part of a 22m thick zone of intense sulphides, alteration and quartz veining from 476m.
- Selective samples have been submitted on priority order for laboratory assays - expected results in less than one month.
- Currently planning to drill a fan of holes from same drill pad as 20AU07.
- All-year road access allows drilling to continue through winter.
- Camp change-over to winter quarters required to prepare for winter drilling and the Company will update investors as timeline for resumption of drilling is confirmed at the Aurora Prospect.
- Fully funded drilling with news flow for the remainder of 2020.
Drilling production rates have improved throughout the year and high-quality structural data has been collected from orientated HQ core. The structural information learnt from the drilling is crucial in unlocking the structural controls on mineralisation and will be combined with assay data when it becomes available to enhance drill targeting.
The Aurora Prospect is road accessible, which allows for year-round drilling. The current summer camp will be demobilised shortly, after the summer regional program is completed and a winter suitable camp will be installed to facilitate continued drilling. Once firm timelines are established the Company will update investors with expected date of resumption of drilling and further pertinent details. An operations update on the Boundary Prospect and other aspects of the 64North Project will be dealt with in a separate operations update, likely next week.
Hole ID: 20AU07 - Aurora Prospect - completed to 712m
A track mounted diamond core drilling rig has completed the third diamond core hole at the Aurora Prospect for this phase of drilling (hole ID:20AU07). The hole was extended 112m and drilled to 712m depth and was designed to test a NE trending structural zone. The hole is located on the central-northern edge of the Aurora prospect, proximal to an outcropping diorite intrusive and coincident with conductive rocks identified by the CSAMT and ZTEM geophysics surveys. Production rates were good with average of > 70m/day and good quality orientated core data is being collected as the hole is being logged in detail.
Managing Director, Duncan Chessell commented:
"We are pleased to see this shallow dipping 7m thick quartz vein with considerable sulphides present as part of a broader 22m thick zone of interest.
"While the presence of gold won't be known until the assays are returned, we know in a Pogo-style system there can be large variations in grade and vein thickness within short distances and it is important to drill more holes into this immediate area to test for grade variation, lateral extents of the vein and possible stacked sets nearby."
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About Resolution Minerals Ltd:
Resolution Minerals Ltd. (ASX:RML) is a mining company engaged in the acquisition, exploration and development of precious and battery metals - such as gold, copper, cobalt, and vanadium.
The company is led by Managing Director Duncan Chessell and an experienced team with proven success in corporate finance, marketing, metallurgy and geoscience. This equips Resolution Minerals with the tools to meet the changing demands of the mining markets.
Resolution Minerals Ltd. Listed on the ASX in 2017 with a focus on the exploration of the Wollogorang Copper Cobalt Project. It has since aquired the Snettisham Vanadium Project and more entered into a binding agreement witth Millrock Resources to earn up to 80% of the highly prospective 64North Gold Project.
Resolution Minerals Ltd.
Resolution Minerals Ltd. Duncan Chessell T: +61-8-6118-7110 E: firstname.lastname@example.org WWW: www.resolutionminerals.com