Drilling has commenced at the Horse Heaven Gold-Antimony-Tungsten Project in Idaho, U.S., directly adjacent to the Perpetua Resources Corp. (PPTA.NAS, A$3 billion market cap) Stibnite Gold Mine.
The Horse Heaven Project has strong gold, antimony, tungsten and silver mineralisation in two known highly prospective mineralised corridors, and further potential in several emerging targets that include past-producing antimony and tungsten mines.
Highlights
- Resolution Minerals Ltd has commenced Phase 1 of its Horse Heaven Gold-Antimony-Tungsten Project (“Horse Heaven”) drill program following the recent appointment of drill contractor Evolve, completion of project bonding and receipt of a final U.S. Forest Service Decision Notice.
- Phase 1 drilling at the Horse Heaven Project involves 3,000 metres of diamond core drilling over approximately 9 holes with an average target depth of 300 metres per hole, with potential to expand the drill program to 6,000 metres.
- The key objective of the Phase 1 drill program at Horse Heaven is to confirm historic shallow drilling at Golden Gate and test mineralisation at depth and along strike, which remains open-ended at depth, laterally and on strike, and assay for antimony and tungsten, which were not sampled in prior drilling.
- Antimony was produced at Horse Heaven during World War I, World War II, and the Korean War, highlighting the Project’s strategic significance as a potential source of military-grade antimony to the U.S. Government during periods of global conflict.
- The U.S. currently has no domestic antimony production and is 100% reliant on imports, making Horse Heaven strategically well positioned to potentially address the long-term antimony supply shortage if progressed through to production.
- Highlight past drilling results at Horse Heaven (Appendix B) include drill intersections of:
- Drill hole 87-GGR-31: 85.34m @ 0.937g/t Au (true width unknown), incl 38.10m @ 1.459g/t Au
- Drill hole 86-GGR-10: 105.16m @ 0.787g/t Au (true width unknown); incl 51.82m @ 0.990g/t AuDrill hole 86-GGR-01: 30.48m @ 1.354g/t Au (true width unknown).
- The Horse Heaven Project is a deposit analogue to the adjacent NASDAQ-listed Perpetua Resources Corp (PPTA.NAS, ~A$3 billion market cap) owned Stibnite Gold Mine.
- RML intends to initiate environmental baseline surveys to support the filing of a new Plan of Operation to conduct drilling activities with a larger footprint at Horse Heaven, which will include expanded drilling at Golden Gate and initial drilling at Antimony Ridge and potentially other emerging targets.
- In support of RML’s efforts to introduce Horse Heaven to the U.S. Government, expedite permitting approvals and secure various U.S. federal government programs and incentives in connection with the exploration and development of the Horse Heaven critical metals project, the Company has engaged Thorn Run Partners (“Thorn Run”) and Clewett Global Services.
- OTCQB listing is expected imminently.
