Quarterly Activities and Cashflow Report 31 March 2021
- Positive assay results from trenching in 2020 at the Sunrise Prospect 64North Project Alaska, demonstrates the potential for a Fort Knox style mineral system
- Follow up drilling program at the Sunrise Prospect
o A 1400m long "fence line" of 27 shallow RAB drill holes at Sunrise Gold Prospect was completed in April. Results are expected in May.
- Drilling (RC) of the East Pogo Prospect for pogo-style targets, set to commence early June.
- A VTEM geophysical survey at the Wollogorang Copper Project (Northern Territory, Australia) set to commence shortly.
- The Company locked in a 30% interest in the 64North Project and has taken charge as Operator.
- Following the successful placement of $3.25m the Company is well funded with $3.05m cash at bank on 31 March 2021.
Managing Director's Comments
We are very pleased that the Company is positioned to be able to drill test gold and copper targets over the coming few months at our flagship 64North Project in Alaska and closer to home in the Northern Territory (Australia) at the Wollogorang Copper Project.
In Alaska at the 64North Project our team in 2020 identified both compelling 50-150m deep drill targets at East Pogo via extensive geophysics programs and shallow Fort Knox style drill targets at the Sunrise Prospect. Both of these prospects can be tested with cost effective RAB and RC drilling. We have assays pending from the Sunrise Prospect from our recently completed RAB drilling program and are lined up to drill East Pogo from early June.
The Company is also very fortunate to hold excellent copper and battery metal assets in the Northern Territory, Australia. RC drilling at the Gregjo and Running Creek Copper Prospects on the Wollogorang Project is planned for the dry season (May-November) with drilling permits in place. However, the unusually "big wet" season has pushed drilling back to mid-late July. The VTEM geophysics airborne surveys will not be affected by the wet season and are highly likely to identify further potential base metal targets in the prospective McArthur basin. We look forward to getting some boots on ground to verify and prioritise targets once the survey is completed and analysis undertaken alongside the RC drilling of existing Gregjo and Running Creek prospects.
Resolution's mission is to hunt for big scale gold and battery metal targets in big country - in 2021 I believe the company is in great position to deliver discovery success.
Duncan Chessell - Managing Director, Resolution Minerals Ltd
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About Resolution Minerals Ltd
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