Resolution Minerals Ltd (ASX:RML, OTC:RLMLF) has reported a strong September quarter, highlighted by expanded drilling, major funding and strengthened US positioning at its flagship Horse Heaven Gold–Antimony–Tungsten–Silver Project in Idaho.
The company said it made progress across technical, corporate and strategic fronts, advancing Horse Heaven as a district-scale critical minerals project aligned with US national security priorities.
Quarterly highlights
- Drilling milestone: Phase 1 diamond program completed with 10 holes for 9,000 feet; visible scheelite (tungsten) confirmed in first three holes at the Golden Gate target.
- High-grade assays: Rock chip and soil sampling at Antimony Ridge returned up to 49.8% antimony, 1,420 g/t silver and 4.43 g/t gold.
- Funding secured: A$25.1 million placement completed, cornerstoned by global institutional investors including Tribeca.
- Leadership and landholding growth: US management team expanded with Craig Lindsay appointed as US CEO; Horse Heaven footprint increased by 600 acres to 59 km².
- Government engagement: Thorn Run Partners appointed to lead US lobbying and funding strategy; dual-listing initiatives advanced.
Executive Director Aharon Zaetz said the quarter delivered major momentum for the company.
“Our expanded drilling program at Horse Heaven is rapidly advancing a district-scale critical minerals opportunity that aligns directly with US national security and supply-chain priorities,” Zaetz said.
“Early success at Golden Gate, including visible tungsten mineralisation, and outstanding surface results at Antimony Ridge underscore the project’s polymetallic potential and the strength of our geological model,” he added. “With an exceptional US leadership team now in place, growing federal visibility and dual-listing initiatives under way, Resolution Minerals is exceptionally well positioned to transition from explorer to emerging US critical-minerals developer.”
Drilling and exploration progress
Resolution completed 10 diamond drill holes across 9,000 feet (2,740 metres), confirming visible scheelite (tungsten) under UV light in the first three holes at Golden Gate. These results confirmed tungsten alongside gold and antimony mineralisation.
Encouraged by early findings, the US Forest Service approved expansion of the program to 18–20 holes for 18,000 feet (5,490 metres), supported by both diamond and RC rigs.
At Antimony Ridge, rock chip assays peaked at 49.8% Sb, 1,420 g/t Ag and 4.43 g/t Au, defining a 1,000-by-700-metre anomaly open in all directions. A district-wide stream sediment survey was also launched to test links between Horse Heaven and Perpetua Resources’ nearby Stibnite Project, recently backed by a US$2 billion US EXIM Bank loan offer.
Funding and US expansion
A A$25.1 million placement completed in September fully funds exploration through 2026, attracting strong global support from John Hancock’s Family Office, Astrotricha Capital and S3 Consortium.
The company also began OTCQB trading (RLMLF) and advanced preparations for a NASDAQ dual listing targeted for 2026, expanding its US investor reach and alignment with North American peers.
Strengthened leadership and government profile
Resolution enhanced its US presence with Craig Lindsay appointed as US CEO and strategic advisors Steve Promnitz and Brett Lynch joining the leadership team. Thorn Run Partners was engaged to assist with lobbying and federal funding engagement in Washington D.C.
Post-quarter, Resolution was invited by Australian Ambassador Dr Kevin Rudd to brief the Australian Embassy in Washington ahead of Prime Minister Anthony Albanese’s meeting with US President Donald Trump — recognising Horse Heaven’s strategic importance.
Further strengthening investor support, Tribeca Investment Partners made an additional A$2 million placement at A$0.08 per share. Resolution also secured an option to acquire a nearby antimony and tungsten processing mill, potentially making it one of the few US companies with in-house processing capability for both critical minerals.
Outlook
Resolution enters the December quarter with key catalysts ahead, including drilling assays, further US government engagement, and test work on high-grade samples through Kingston Process Metallurgy.
Zaetz said the company’s focus remains on advancing resource definition and positioning Horse Heaven as a cornerstone asset in North America’s secure antimony and tungsten supply chain.