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Resolution Mining (ASX:RML) is buying up the Horse Heaven Antimony-Gold-Tungsten Project in Idaho for cash and shares as it looks to capitalise on China’s tightening rare earths markets and Donald Trump’s pro-mining policies.
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The acquisition will cost Resolution $1 million in cash; the miner will also issue the vendors 444,812,889 shares. A further 222.4K will be available as 1.8c options to 2028.
Resolution is convinced Horsen Heaven is more than worth the price of admission, though, not least because it shares an eastern boundary with Nasdaq-listed Perpetua Resources’ long-proven Stibnite Gold-Antimony dig site.
The company’s new project also already boasts several “drill-ready targets” to boot: The antimony ridge at Horse Heaven has an approximate strike length of 1.2 kilometres and hosts known gold-antimony-silver-tungsten mineralisation; the Golden Gate fault zone is similarly 3.5km long and all set for drilling.
The acquisition of the Horse Heaven project – and all its ready-made targets – “has the potential to be a transformative event for Resolution,” executive director Aharon Zaetz said on the multi-million dollar brownfields buy.
“As many governments around the world look to onshore their supply of critical minerals like antimony and tungsten, we have secured a commanding ground position with known antimony occurrences,” the Resolution boss said.
Resolution’s new project being proximal to “what is likely to become the largest antimony producer in the U.S.” is also pennies from heaven, in the explorer’s eyes.
On top of all that, Horse Heaven already produced tungsten between 1950 and 1980.
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For those wanting the juicy drilling numbers from past programs, Golden Gate Hill previously had a non-JORC gold resource of 216,000 ounces of gold in 7,256,800 tonnes of material at a grade of around 0.93 grams per tonne.
Antimony Hill, the other slice of the Horsen Heaven project, charted a gold resource of 70,000 ounces in gold in 3,174,850 tons of material at 0.69 grams per tonne.
These are only “historical esimates,” RML noted, but they offer some early insights.
RML shares opened at 1.8cps early on Wednesday morning.
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