Resolution Minerals Ltd (ASX:RML) Interest Earned in 64North Project Alaska
Interest Earned in 64North Project AlaskaAdelaide, Jan 28, 2021 AEST (ABN Newswire) - Resolution Minerals Ltd (
ASX:RML) executed an Option, Earn-in and Joint Venture (JV) agreement on 17 October 2019 as Northern Cobalt Ltd (
ASX:N27) (former company name of Resolution Minerals Ltd) with Millrock Resources Inc. Millrock is an Alaskan based project generator company listed on the TSX-V as MRO. Updated Terms of the Option, Earn-in & Joint Venture agreement to earn up to an 60% on the entire project and an 80% interest on a single best block include:
RML Current Interest in the 64North Project - 30%
Resolution Minerals identifies new Alaska gold system
January 18, 2021
Resolution Minerals has discovered an extensive outcropping gold system it calls the Sunrise prospect at its 64North project.
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The new system, named Sunrise, returned 93m at 0.29 grams per tonne gold from surface trenching.
The company said that, typically, a 0.1g/t cut-off grade is used for large Alaskan projects.
Sunrise is adjacent to the Aurora prospect, where drilling intercepted multiple quartz veins but with no significant gold mineralisation found.
Resolution will begin shallow percussion rotary air blast (RAB) drilling at Sunrise in March. The work is fully permitted.
The 64North project surrounds the Pogo mine, owned by Northern Star Resources (ASX: NST) which has so far produced 4 million ounces of gold at an average grade of 13.6g/t. Pogo has a total endowment of 10Moz of gold and is currently producing at a rate of 300,000 ounces per annum.
Previous exploration had identified high grade gold-bearing quartz veins at the Boundary target.
Airborne ZTEM, ground based CSAMT surveys, mapping, prospecting, and geochemical sampling was completed at the Boundary target on the East Pogo block; a strong target for planned 2021 drilling was delineated.
The claim block was extended eastward to cover interesting geophysical features.
Eagle Block:
Prior exploration by others had identified intrusion-hosted disseminated gold mineralization; there is demonstrated potential for deposits of similar nature to the Fort Knox Mine located near Fairbanks, Alaska.
High resolution airborne magnetic surveys were carried out and used to develop exploration plans.
A 22-kilometer access trail was constructed leading south from the Pogo Mine road.