Resolution Minerals (ASX:RML) has unveiled an eye-watering 253m wide intercept – from surface – at a grade of 1.5g/t ending in further mineralisation at its Golden Gate target of interest, part of the larger Horse Heaven gold-antimony project that was earlier this year on the radar of a U.S. firm backed by the Trump family.
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Results confirm an intrusion-related gold system, in the company’s own words, of the larger 253m intercept highlighted on Monday, a section spanning 112m graded higher at 21.3/gt gold (from 130m depth), while a smaller pocket just shy of 20m graded at 4g/t gold.
A second 265m drillhole was sunk nearby; it graded at 0.6g/t gold across most of its length though one 90m section graded at 1.15g/t. All put together, these results indicate both a successful drill run just wrapped up, and, they add to the body of evidence there could be a commercial potentiality at Horse Heaven.
“These results demonstrate the continuous potential for a large intrusive-hosted gold system with geology, sulphides and alteration similar to the Stibnite gold-antimony deposit, only ~16km away,” Resolution added on Monday.
While the company had pivoted to antimony earlier this year, and that remains the case, recent success in hunting for gold, too, has informed the direction of RML’s focus. With gold prices back around US$4,000/oz (after the sell-off we saw before the U.S.-China talks), lower grades are less of a problem these days – and surface mineralisation, if extensive, lends itself to a more friendly CapEx number.
“These results confirm that Golden Gate hosts a large, robust gold system with all holes returning broad gold mineralisation from surface and finishing in mineralisation,” RML’s US CEO Craig Lindsay said.
“That level of continuity and consistency is extremely rare this early in a program and highlights the potential scale and our belief that Golden Gate has all the hallmarks of a significant intrusive-related gold deposit, comparable to the major systems seen elsewhere in the district.”
RML last traded at 10.3cps.
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