Pic: John W Banagan / Stone via Getty Images
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.
For Resolution and its shareholders, the potential prize is huge.
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
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