CONFERENCE CALL ASX Announcement 27 th April 2020 INITIAL ASSAYS - - PowerPoint PPT Presentation
CONFERENCE CALL ASX Announcement 27 th April 2020 INITIAL ASSAYS HOLE 1 - 64NORTH PROJECT, ALASKA 1 64NORTH TENEMENTS & PROSPECTS/BLOCKS Large land position surrounding Pogo Gold Mine 1,174 State mining claims 660 km 2 Pogo
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CONFERENCE CALL
ASX Announcement 27thApril 2020
INITIAL ASSAYS HOLE 1 - 64NORTH PROJECT, ALASKA
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64NORTH –TENEMENTS & PROSPECTS/BLOCKS
Large land position surrounding Pogo Gold Mine
Pogo Gold Mine Northern Star ASX:NST
exploration upside at the Pogo Gold Mine, with 4 new discoveries announced by ASX:NST
4m oz Au @ 13.6g/t Au and still
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POGO-STYLE VEINS - DRILL HOLE 20AU001
Hole ID 20AU001 (hole 1) boxes 59 and 60 whole core; depth 126.42m to 130.37m quartz veining in paragneiss. The red inset box is enlarged in next slide with a close up photograph
Typical Pogo-style
arsenopyrite, pyrrhotite
alteration halo
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POGO-STYLE VEINS - DRILL HOLE 20AU001
Hole ID 20AU001; cut ½ drill core 127.16m to 127.3m quartz veins, arsenopyrite, pyrite(s) in paragneiss. Grade 0.19g/t Au, >10,000ppm As, 9.4ppm Bi, 1.13ppm Te.
Typical Pogo-style
arsenopyrite, pyrrhotite
alteration halo
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DRILL HOLE 20AU001 Strip Log: Pogo-style evident
Typical Pogo-style
arsenopyrite, pyrrhotite
alteration halo
Strong Au-As-Bi-Te correlation, multiple zones
127.16m Hole: 20AU001
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DRILL HOLE 20AU001 Strip Log: Pogo-style evident (119-139m)
Typical Pogo-style
arsenopyrite, pyrrhotite
alteration halo
Strong Au-As-Bi-Te correlation 119-139m
127.16m Hole: 20AU001
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POGO STYLE – MINE MINERALISATION MODEL
Elevated gold/arsenic/bismuth anomaly Gold-bearing quartz veins Serpentinite, amphibolite Graphitic schist Low Angle Veins (Liese 1-3, East Deep)
more dilation
High Angle Veins (North Zone, X-Vein)
Other characteristics of Pogo
~ 3% pyrite, arsenopyrite, pyrrhotite, As-Bi-Te
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64NORTH – WEST POGO BLOCK: AURORA PROSPECT
The Right Ingredients þ Right Geology – Granitic Intrusions, age 80-102 Ma, main mineralizing engine room present throughout Tintina Gold Province þ Brown fields – next to Pogo Gold Mine þ Same rocks as Pogo Mine þ Large structures – potential fluid pathways þ Highly anomalous surface geochemistry – soils, streams and rock chips þ Evidence of vertical feeder systems typical
drilling (western end of valley), mapping and geochem samples þ Geophysics – strongly demagnetised zone mirror of Goodpaster & Pogo þ Geophysics – CSAMT survey, indicate same conductors on RML ground þ Access Road constructed þ Water well drilled þ Drilling permits issued
Completed drill target locations (green dots), incomplete hole (blue dot) and planned further drill holes (orange dots)
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Line 6 CSAMT Survey and Cross Section with drill traces
Hole1: 20AU001 The hole was designed test multiple structural targets and magnetic features not shown on the CSAMT section as well as the margin of the more conductive rock unit. Due to logistics it was drilled first while access to the next planned hole to the north was
through 5m of overburden and intersected predominantly biotite-quartz-feldspar paragneiss through to the end of hole. Logging indicates multiple zones of quartz veining with various orientations, thickness and vein density, as well as barren zones. The paragneiss is interpreted to be the same host rock as the Northern Star Pogo Gold Mine. Assays and visual logging of drill core confirms a Pogo-style mineral system is present at Resolution’s Aurora Prospect area. Strong sericite and dolomite alteration are present in the biotite-quartz-feldspar paragneiss and are associated with sulphide- bearing quartz veins including arsenopyrite, pyrite, bismuthinite and pyrrhotite. Assays with high levels of arsenic (As), bismuth (Bi) and elevated tellurium (Te) support the geological logging and correlation between Au-As-Bi-Te is demonstrated on the strip log and is typical of a Pogo-style mineral system.
Next drill hole planned for summer 2020 and completed HoleID:20AU001 (March 2020) and assays released 27 April 2020. Left axis is RL (elevation) in meters.
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64NORTH – WEST POGO BLOCK: AURORA & ECHO TARGETS
The Right Ingredients þ Right Geology – Granitic Intrusions, age 80-102 Ma, main mineralizing engine room present throughout Tintina Gold Province þ Brown fields – next to Pogo Gold Mine þ Same rocks as Pogo Mine þ Large structures – potential fluid pathways þ Highly anomalous surface geochemistry – soils, streams and rock chips þ Evidence of vertical feeder systems typical of Pogo-style mineralisation in historic drilling (western end of valley), mapping and geochem samples þ Geophysics – strongly demagnetised zone the mirror of Goodpaster & Pogo þ Geophysics – CSAMT survey, indicate same conductors on RML ground
West Pogo Block, intended drill targets for year 1, green (completed), blue (incomplete) and orange (planned) dots.
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ASX Announcement 27th April: INITIAL ASSAYS HOLE 1 - 64NORTH PROJECT, ALASKA
Hole ID Prospect From To Interval Au (g/t) 20AU001 Aurora 94.31 94.86 0.55 0.52 20AU001 Aurora 124.83 126.31 1.48 0.31 20AU001 Aurora 129.76 131.04 1.28 0.35 20AU001 Aurora 152.85 153.22 0.37 0.30 20AU001 Aurora 241.80 242.76 0.96 0.42 20AU001 Aurora 276.88 277.00 0.12 0.94 Competent Persons Statement The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Duncan Chessell who is a member of the Australasian Institute of Mining and Metallurgy. Mr Duncan Chessell is a full-time employee of the company and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Duncan Chessell consents to the inclusion in the report of the matters based on his information in the form in which it is appears and confirms that the data reported as foreign estimates are an accurate representation of the available data and studies of the material mining project. This report includes results that have previously been released under JORC 2012 by the Company on 17 October 2019, “Binding agreement earning 80% of Gold Project in Alaska”, “Gold Symposium Conference Presentation” 24 October 2019, “AGM Presentation” 26 November 2019 and “Operations Update at 64North Project, Alaska” 31 March 2020 and “Initial assays Hole 1 – 64North Project, Alaska” 27 April 2020. The Company is not aware of any new information or data that materially affects the information included in this announcement and all material assumptions and technical parameters underpinning the Mineral Resource continue to apply and have not materially changed.
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This presentation has been prepared by Resolution Minerals Ltd (Resolution). This document contains background information about Resolution current at the date of this presentation. The presentation is in summary form and does not purport to be all inclusive or complete. Recipients should conduct their own investigations and perform their
completeness of the information, statements and opinions contained in this presentation. This presentation is for information purposes
Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sales of shares or other securities in any jurisdiction. This presentation is not a prospectus, product disclosure statement or other offering document under Australian law (and will not be lodged with the Australian Securities and Investments Commission (ASIC)) or any other law. This presentation does not constitute investment or financial product advice (nor tax, accounting or legal advice) and has been prepared without taking into account the recipient’s investment
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particular needs and the
and recommendations in this presentation are not intended to represent recommendations
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DISCLAIMER
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Authorised for release Duncan Chessell Managing Director Resolution Minerals Ltd ASX:RML +61 414 804 055
duncan@resolutionminerals.com Level 4, 29 King William Street Adelaide SA 5000, AUSTRALIA www.resolutionminerals.com
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ASX Announcement 27th April: INITIAL ASSAYS HOLE 1 - 64NORTH PROJECT, ALASKA
The company is highly encouraged by these first results from a green fields exploration program. The results confirm the exploration model and will be invaluable in determining future drilling. Summary:
at the Aurora Prospect, 64North Project – Alaska.
bismuthinite (Bi) sulphide-bearing quartz veins with elevated tellurium (Te) and is present in the same host rock as the nearby Northern Star (ASX: NST) Pogo Gold Mine.
priority target zone, with host rocks, surface geochemistry, structures and geophysical signature that make it a look-alike to Northern Star’s Goodpaster Discovery and Pogo Gold Mine.
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ASX Announcement 27th April: INITIAL ASSAYS HOLE 1 - 64NORTH PROJECT, ALASKA
Continued.. Resolution Minerals Ltd (RML, Resolution or the Company) has received (partial) assays from surface to 323m of recently completed hole #1 at the Aurora Prospect. In March 2020 drilling was completed at the Company’s first diamond drill hole (20AU001) to a depth of 462m.The first hole was designed to test structural and geophysical signatures as an orientation to the project geology. Encouragingly the rock type, quartz veining, intense alteration and very high levels of arsenic and bismuth correlating to gold in assays intersected, support the sulphide mineralisation typical of a Pogo-style mineral system. Due to spring thaw, drilling was halted and scheduled to recommence on the compelling Aurora Prospect in the second half of May. The Aurora Prospect is adjacent to Northern Star’s world class high grade operating Pogo Gold
highest priority target. Managing Director Duncan Chessell commented: “These assays increase our confidence that we are drilling in the right neighbourhood and confirm a Pogo- style mineral system is present at Resolution’s Aurora Prospect. The large 2km x 5km scale potential of the target is compelling and we look forward to drilling across more areas of the target zone in the coming summer season and testing our highest priority drill targets. “Our next task is to vector in on the zones that contain higher grade gold.”