Join our daily newsletter At The Bell to receive exclusive market insights
- Resolution Minerals (RML) has resumed drilling at the Aurora prospect at its 64North project in Alaska, drilling the first hole deeper than planned
- The drilling intersected promising geology and the hole was extended past the targeted rock type to further test a shear zone
- Early indications show similar geology to the nearby 10 million-ounce Pogo Gold Mine, though assays are still being prepared for testing
- The company is planning to drill another four to six holes across Aurora for a minimum of 2200 metres
- The company will also conduct further airborne geophysical surveys at the nearby Echo prospect to define targets, with drilling to commence in August
- Resolution Minerals closed Wednesday’s session 24 per cent higher at 9.3 cents per share
Resolution Minerals (RML) has resumed drilling at the promising Aurora prospect at its 64North project in Alaska, and drilled the first hole deeper than planned.
The company says it intersected promising geology and extended the hole past the targeted rock type to further test a shear zone from 585 metres below surface to 615 metres.
Early indications show similar geology to the nearby 10 million-ounce Pogo Gold Mine operated by Northern Star, though assays are still being prepared for testing.
Promising prospects
The intersection of paragneiss rock — the Pogo-style geology — validates the controlled-source audio-frequency magnetotellurics (CSAMT) survey data used for target identification across the project.
Resolution will now relocate the drill rig to the next target at Half Ounce Gulch to test a deep conductor, around 400 metres to 800 metres below surface.
The company is using the knowledge gained from the Pogo discovery to conduct its exploration.
Historic drilling at Pogo tested for near-surface quartz veining via shallow holes at steep angles, missing the rich underlying deposit which was only discovered later through deeper near-vertical drilling.
Next steps
Resolution will test the targets identified in the CSAMT survey with similar drilling to probe potential deeper deposits.
The logic behind the Aurora exploration is underpinned by other elements in common with the Pogo deposit, such as the rock type, intense alteration, and the presence of quartz veining and pathfinder elements like arsenic and bismuth.
The targets generated by the CSAMT survey correlate with the zones of alteration and anomalous gold located in previous field exploration, adding further credence to Resolution’s model.
Further drilling will be planned as assay results are returned. The company is planning another four to six holes across Aurora for a minimum of 2200 metres.
The company will also be buoyed by recent discovery success at Northern Star’s Goodpaster prospect, just 450 metres from its tenement boundary, and adjacent to Resolution’s Echo prospect.
Resolution will conduct further airborne geophysical surveys at Echo through June to define drill collar sites, with drilling to commence in August.
Resolution Minerals closed Wednesday’s session 24 per cent higher at 9.3 cents per share.
