Resource Minerals International Non-Executive Director Trevor Matthews talked with Proactive about how the company plans to allocate its recently secured $1 million in funding.
Matthews outlined that the funds will support exploration activity across three key regions: Saudi Arabia, Tanzania, and Finland, as well as retire outstanding convertible securities to make the company debt-free.
In Saudi Arabia, Resource Minerals is advancing geophysical surveys at the Shaib Marqan and Wadi Salamah projects. Matthews highlighted past surface sampling results of up to 40g/t gold and 40g/t silver, and noted that current work will define drill targets for the next phase.
In Tanzania, the Mpanda copper-gold project is set to begin a drone geophysics survey. The area has previously returned strong surface results and hosts artisanal mining activity. Matthews said the team is “confident that that project is going to yield some pretty good results.”
Meanwhile, in Finland, early-stage drilling is beginning at the Köyhäjoki lithium project. The company is also awaiting access to its second Finnish lithium prospect, the Kallio project, which has historical lithium intercepts.
Matthews emphasised that all three projects are moving towards drill-ready status, stating: “We think we’ve got a great portfolio of assets… copper, gold, silver and lithium, all at or near record prices.”
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