Junior explorer Resolution is now drilling for Alaska’s next 10moz gold discovery
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Special Report: Popular, cashed-up Resolution Minerals (ASX:RML) is hunting giants at the recently acquired 64North project in Alaska.
The $12.2m market cap Resolution is up 100 per cent since first announcing the 64North acquisition in October last year.
The 660sqkm 64North project literally surrounds Northern Star Resources’ (ASX:NST) high-grade Pogo mine, which has produced 4 million ounces of gold over the past 13 years and has another 6 million ounces in resources and reserves.
In September, Northern Star uncovered something big and high grade at the Goodpaster prospect near Pogo; about 450m from – and along strike to — Resolution’s new project boundary.
Now considered a continuation of the main Pogo mineralised trend, Goodpaster currently extends over a strike distance of 2.3km, to a depth of 500m, and remains open in every direction.
The explorer is now drilling the high priority ‘Aurora’ targets, which display “significant geophysical similarities” to the neighbouring Goodpaster and Pogo:
The 2000m, four-to-five diamond hole program will be conducted by the same experienced surface driller used at the Pogo mine. Initial drilling results are expected from mid-April, the company says.
Resolution is also continuing to prioritise a pipeline of drill-ready prospects across the large land package.
Resolution says it is fully funded “for multiple drill programs” following the recently completed $4.5m capital raise, which attracted strong demand from institutional and sophisticated investors.
Video: Overview of Resolutions 64North Project