Resolution Minerals Ltd (ASX:RML, OTC:RLMLF) earlier this week announced an expansion of its drilling program at the Horse Heaven Project in Idaho. US CEO Craig Lindsay joined Proactive to explain.
Highlights
- Resolution Minerals is doubling its drilling program at the Horse Heaven Project in Idaho.
- An amendment to the plan of operations allows drilling to continue until the end of October.
- The company expects to complete an additional 8–10 holes and 8,000–10,000 feet of drilling.
- Drilling results to date show mineralization similar to Perpetua Resources’ Stibnite mine.
- Expanded drilling will feed into a resource estimate planned for 2024.
- Resolution Minerals is also acquiring 600 more acres in the Yellow Pine mining district.
- The land position now covers 59 km², fully owned by the company.
- Upcoming milestones: 20,000 feet drilled, drill results from 20 holes, plus sediment and metallurgical test results.
- Commodity backdrop supportive, with gold at $1,700/oz and antimony demand rising.
Drilling Program Doubled Following Encouraging Early Results
US CEO Craig Lindsay said the company secured an amendment to its plan of operations with the US Forest Service, extending the drill season through October. It highlighted that this will allow an additional 8,000 to 10,000 feet of drilling across 8 to 10 more holes. They had originally planned 8,000 feet, meaning the revised program will double the planned work.
Lindsay told Proactive that the decision was driven by encouraging early results. He said the core being recovered showed similarities to mineralization seen at Perpetua Resources’ nearby Stibnite mine. He added that the additional work would contribute to a resource estimate that Resolution Minerals aims to release next year.The company is also consolidating its land position in the Yellow Pine mining district. It has agreed to acquire a further 600 acres, bringing its total holding to 59 square kilometres. Lindsay said the district is becoming increasingly competitive, with several companies seeking ground. He noted that the company had been selectively staking areas considered prospective for gold, antimony, and tungsten.
Next Steps
Looking ahead, Lindsay outlined three milestones expected over the coming months. The company aims to complete 20,000 feet of drilling by October. Drill results from 20 holes are expected to start being reported in about four weeks, with updates continuing into the new year. In addition, results from stream sediment sampling and metallurgical testing are anticipated.
Lindsay said the company was working in favourable conditions, with gold at about $1,700 per ounce and antimony in focus as a critical metal in the United States. He described the current period as an active phase with multiple developments underway.
Resolution Minerals has full ownership of its land position and said it is well placed in a district it views as emerging as a significant exploration play.