Resolution Minerals Ltd: Operations and Corporate Update - 64North Project Alaska
Adelaide, Australia - Resolution Minerals Ltd. (ASX:RML) provide the operations and corporate update for the 64North Project in Alaska.- Resolution expects to resume drilling operations in the second half of May, following Spring thaw.
- First assay results from the maiden drill program at the Aurora Prospect are expected next week; laboratories have not been impacted by COVID-19 and the timeline remains on track per previous announcements.
- Assays plan to be released in two batches:
o Hole: surface to 323m next week; and
o Hole: 323m-462m (TD) and Hole 2 surface to 194m (incomplete) ~2 weeks later.
- Updated Aurora drill targets will be the focus for the resumption of drilling, with number of holes and locations to be announced after consideration of drilling results.
- Appropriate safety precautions are in place to minimise impacts from COVID-19 on planned drilling.
- Resolution is fully funded for the next drill program.
Spring thaw: Spring thaw has commenced at the 64North Project site and Resolution Minerals (RML or Company) plans to resume drilling in the second half of May after the drill access road dries up to the Aurora Prospect. As the drill access road is new, it has exposed frozen ground which makes the first thaw after new road construction very muddy and impassable for a few weeks (weather dependant). This road will then provide access all year round and avoids helicopter supported drilling and to help maximise the use of exploration funds on the Aurora Prospect, 64North Project.
Corporate Update - change of address
The Company also advises of a change to its corporate office. In accordance with Listing Rule 3.14, the Company's office details have changed as of 22 April 2020. The Company's new contact details are listed below:
Registered office and principal administrative office
Level 4, 29-31 King William Street, Adelaide SA 5000 Australia
Managing Director Duncan Chessell commented:
"We are very pleased that we have achieved the aim of our maiden drilling program, which was to successfully identify a Pogo-style mineral system on our side of the fence, pending assay results for final confirmation.
"As well as assays next week, we also look forward to the next drill program when we can hit our highest priority holes, for logistics reasons associated with COVID-19 we did not get a chance in March to drill test these holes at the Aurora Prospect."
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About Resolution Minerals Ltd:
Resolution Minerals Ltd. (ASX:RML) is a mining company engaged in the acquisition, exploration and development of precious and battery metals - such as gold, copper, cobalt, and vanadium.
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.
Source:
Resolution Minerals Ltd.
Contact:
Resolution Minerals Ltd. Duncan Chessell T: +61-8-8120-0456 E: info@northerncobalt.com.au WWW: www.resolutionminerals.com