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RESOLUTION MINERALS LTD — Capital/Financing Update 2020
Sep 9, 2020
65717_rns_2020-09-09_59f02ea1-d6e8-4a0c-8c79-5b43d0b7af3c.pdf
Capital/Financing Update
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10 September 2020
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ASSAYS AND OPERATIONS UPDATE 64NORTH PROJECT, ALASKA
Summary
-
Drilling has reached 422m on hole ID: 20AU07 at the 2km x 5km Aurora Prospect , the hole is designed to test a high priority target with a planned depth of 600m.
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Assays from Aurora drill holes 20AU03 and 20AU04 have indicated minor gold mineralisation is present in the system as detailed in figure 3 and 4. The results will assist in vectoring in on additional targets.
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Geophysics results and initial ground follow up at the Boundary Prospect to be released next week.
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Fully funded exploration on multiple drilling targets with news flow for the remainder of 2020 after the recent $5.1m placement and SPP.
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Completed 19 Aug
Completed
Pogo Gold Mine
1 Sept 10M oz Au
New assays
reported
Drilling now
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Figure 1 Aurora, Echo & Reflection Prospects - West Pogo Block, 64North Project Alaska, current drilling focus
CAPITAL STRUCTURE
Ordinary Shares Issued 279 M
Options and rights Listed options 6.1 M @ 10c Unlisted options 12.3 M @ 25c Unlisted options 13.4 M @ 6c Unlisted rights 7.5 M
Performance Shares Class A 9.6 M Class B 3.6 M
Last Capital Raise August 2020 - Placement & SPP $5.1M @ 7c
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BOARD
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Len Dean - Chair Duncan Chessell - MD Andrew Shearer - NED Craig Farrow - NED Jarek Kopias - Co Sec
Level 4, 29-31 King William Street, Adelaide SA 5000
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ASX RELEASE
Resolution Minerals Ltd ( RML, Resolution or Company ) is pleased to update investors with assay results from phase two of drilling on the Aurora Prospect and that the third phase of drilling for 2020 is well underway on the West Pogo Block adjacent to Northern Star’s (ASX:NST) Pogo Gold Mine, Alaska.
Status of Phase Three of Drilling West Pogo Block – Aurora, Echo and Reflection Prospects
| Prospect | Hole ID | Depth | Completion date | Logging and Assay status |
|---|---|---|---|---|
| Echo | 20EC005 | 321m | 19 August | Logged, samples sent to lab |
| Reflection | 20RE006 | 553m | 1 September | Detailed loggingunderway |
| Aurora | 20AU007 | *422m(est 600m) | drillingnow |
Drilling production rates have improved throughout the year and high-quality structural data has been collected from orientated HQ core. The structural information learnt from the drilling is crucial in unlocking the structural controls on mineralisation and will be combined with assay data when it becomes available to enhance drill targeting. A surge in gold exploration in North America has resulted in longer time frames on return of assays from laboratories, the Company has taken steps to minimise time frames and will look to fast track the core from the Reflection Prospect.
Hole ID: 20AU07 – Aurora Prospect – currently drilling
A track mounted diamond core drilling rig has commenced the third diamond core hole at the Aurora Prospect for this phase of drilling (hole ID:20AU07). The hole is currently at 422m depth and is designed to a depth of ~600m and will test a NE trending structural zone. The hole is located on the central-northern edge of the Aurora prospect, proximal to an outcropping diorite intrusive and coincident with conductive rocks identified by the ZTEM geophysics survey. The Aurora Prospect is road accessible, which allows for year-round drilling.
Assay Results Hole ID’s 20AU03 and 20AU04
Assays from Aurora drill holes #3 and hole #4 indicate minor gold mineralisation as detailed below. The alteration observed in the drill core matched the CSAMT and ZTEM geophysics anomalies. The Company is encouraged by the strong alteration, presence of minor gold mineralisation, para-gneiss host rocks and presence of sulphides indicating the strong fertility of the system. We interpret that correct structural “dilation” event, or opening of “space”, to allow thick high-grade gold mineralisation did not occur at these locations. We conclude these holes intersected thick zones that were clearly the fluid pathways for a large mineralising system and further drilling will target potential high-grade zones of gold mineralisation.
Intervals Hole 20AU003
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0.86m @ 0.35 g/t Au from 19m depth
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0.86m @ 0.44 g/t Au from 423m depth
Intervals Hole 20AU004
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Figure 2 Quartz and sulphide veins at 1,060m Hole ID 20AU04 - typical of this hole.
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0.78m @ 0.41 g/t Au from 522m depth
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1.19m @ 0.76 g/t Au from 762m depth
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ASX RELEASE
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Figure 3 Cross section with assay results from 20AU001 and 20AU004 - Aurora Prospect, West Pogo Block
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Figure 4 Cross section of new assay results for Hole ID 20AU004 and historic results MR-12-02 and MR-12-01
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ASX RELEASE
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Figure 5 Deposit sizes stated as Endowment (Resources & Reserves + Historic Production) *sourced from Company websites
For further information please contact the authorising officer:
Duncan Chessell Managing Director Resolution Minerals Ltd +61 8 6118 7110
E: [email protected]
Follow RML on LinkedIn or Twitter or visit our website www.resolutionminerals.com
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*Tintinta Gold Province Endowment Map – source of data: Pebble (Northern Dynasty, www.northerndynastyminerals.com), Pogo (Northern Star Resources, www.nsrltd.com), Fort Knox (Kinross, www.kinross.com), Donlin Creek (NovaGold, www.novagold.com), Livengood (International Tower Hill Mines, www.ithmines.com), Eagle & Dublin Gulch (Victoria Gold Corp, www.vgcx.com), Brewery Creek (Golden Predator, www.goldenpredator.com), White Gold (White Gold Corp, whitegoldcorp.ca), Coffee (Newmont, www.newmont.com), Kensington (Coeur Mining, www.coeur.com).
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ASX RELEASE
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 and Australian Institute of Geoscientists. 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 as “Binding agreement earning 80% of Gold Project in Alaska” on 17 October 2019, “Gold Symposium Conference Presentation” on 24 October 2019, “2019 AGM Managing Director’s Presentation” on 26 November 2019, “Operations Update at 64North Project, Alaska” on 31 March 2020, “Exploration Update - 64North Project Alaska” on 14 May 2020, “Drilling Update - 64North Project Alaska” on 24 June 2020, “Investor Presentation - Noosa Mining Virtual Conference” on 13 July 2020 and ‘Drilling Commenced at Reflection Prospect – 64North” on 25 August 2020. The Company is not aware of any new information or data that materially affects the information included in this announcement.
Appendix 1. Summary table of drill hole details.
| Table 1a: Summary of RML drill intervals from May drilling at the 64North Project, Alaska. | Table 1a: Summary of RML drill intervals from May drilling at the 64North Project, Alaska. | Table 1a: Summary of RML drill intervals from May drilling at the 64North Project, Alaska. | Table 1a: Summary of RML drill intervals from May drilling at the 64North Project, Alaska. | Table 1a: Summary of RML drill intervals from May drilling at the 64North Project, Alaska. | Table 1a: Summary of RML drill intervals from May drilling at the 64North Project, Alaska. |
|---|---|---|---|---|---|
| Hole ID | Prospect | From | To | Interval | Au(g/t) |
| 20AU003 | Aurora | 19.01 | 19.87 | 0.86 | 0.35 |
| 20AU003 | Aurora | 423.32 | 424.18 | 0.86 | 0.44 |
| 20AU004 | Aurora | 521.78 | 522.56 | 0.78 | 0.41 |
| 20AU004 | Aurora | 761.58 | 762.77 | 1.19 | 0.76 |
| Including | Aurora | 761.58 | 762.13 | 0.55 | 0.96 |
Table 1b: RML drill collar location for the 64North Project, Alaska.
| Hole ID | Easting | Northing | Elevation | Azimuth | Dip | EOH Depth |
|---|---|---|---|---|---|---|
| 20AU003 | 595970 | 7148300 | 565m | 145 | -80 | 615.09 |
| 20AU004 | 594885 | 7149325 | 700m | 145 | -80 | 1093.32 |
Notes for Tables 1a and 1b
-
An accurate dip and strike and the controls on mineralisation are yet to be determined and the true width of the intercepts is not yet known.
-
Coordinates are in NAD83, Zone 6
-
Elevation and Hole Depth are in metres
-
Azimuth is in Degrees Grid North
-
Dip is in degrees
-
g/t (grams per tonne), ppm (parts per million), ppb (parts per billion), NSI (no significant intercept)
-
All drilling is HQ diamond core drilling, all of hole is sampled
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Significant results are shown for intercepts >0.3g/t Au with no more than 0.4m of internal dilution
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ASX RELEASE
Appendix 2. The following tables are provided to ensure compliance with the JORC Code (2012) requirements for the reporting of the exploration results for the 64North Project – Alaska.
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
| Criteria | JORC Code explanation | Commentary | Commentary |
|---|---|---|---|
| Sampling | • Nature and quality of sampling (e.g. cut | • | Sampling was undertaken using |
| techniques | channels, random chips, or specific specialised industry standard measurement |
standard industry practices and a standard operating procedure to |
|
| tools appropriate to the minerals under | ensure continuity of work practices | ||
| investigation, such as down hole gamma | between staff. The sections of the | ||
| sondes, or handheld XRF instruments, etc.). | core that are selected for assaying | ||
| These examples should not be taken as | are marked up and then recorded | ||
| limiting the broad meaning of sampling. | on a sample sheet for cutting and | ||
| • Include reference to measures taken to | sampling at the certified assay | ||
| ensure sample representivity and the | laboratory. Samples of HQ core | ||
| appropriate calibration of any measurement | are cut just to the right of the | ||
| tools or systems used. | orientation line where available | ||
| • Aspects of the determination of mineralisation | using a diamond core saw, with | ||
| that are Material to the Public Report. | half core sampled lengthways for | ||
| • In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was |
assay. Half core was sampled length wise for assay. QAQC samples (standards, blanks and duplicates) are inserted into the |
||
| pulverised to produce a 30 g charge for fire | sequences as per industry best | ||
| assay’). In other cases, more explanation may | practice the details of which are | ||
| be required, such as where there is coarse Au | set out below in sub-sampling | ||
| that has inherent sampling problems. Unusual | techniques section. | ||
| commodities or mineralisation types (e.g. | • | The HQ diamond core was | |
| submarine nodules) may warrant disclosure | sampled as half core at | ||
| of detailed information. | geologically defined or significant | ||
| alteration and mineralisation | |||
| boundaries to ensure adequate | |||
| sample representivity. | |||
| • | Diamond core sample intervals | ||
| were set between 0.1m minimum | |||
| and 1.5m maximum. | |||
| • | Individual samples weigh less than | ||
| 3kg to ensure total preparation at | |||
| the laboratory pulverisation stage | |||
| to produce 30gram charge for fire | |||
| assay. The sample size is deemed | |||
| appropriate for the grain size of the | |||
| materialbeing sampled. | |||
| Drilling | • Drill type (e.g. core, reverse circulation, open- | • | Oriented HQ diamond core triple |
| techniques | hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, |
tube, down hole surveys every 100 feet (~30m), using a Reflex ACT-III |
|
| triple or standard tube, depth of diamond tails, | tool. | ||
| face-sampling bit or other type, whether core | |||
| _is oriented and if so, by what method, etc.). _ |
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ASX RELEASE
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Drill sample | • Method of recording and assessing core and | •Core was processed in the |
| recovery | chip sample recoveries and results assessed. • Measures taken to maximise sample recovery |
Fairbanks ALS laboratory core processing room for the full |
| and ensure representative nature of the | duration of the program. | |
| samples. | Recoveries were recorded for all | |
| • Whether a relationship exists between sample | holes, into a logging database to |
|
| recovery and grade and whether sample bias | 3cm on a laptop computer by a | |
| may have occurred due to preferential | qualified geologist using the drillers | |
| loss/gain of fine/coarse material. | recorded depth against the length | |
| of core recovered. No significant | ||
| core loss was observed. | ||
| •Triple tube HQ was used to | ||
| maximise core recovery. | ||
| •No relationship between sample | ||
| recovery and gradeisidentified. | ||
| Logging | • Whether core and chip samples have been | •Core logging is carried out by |
| geologically and geotechnically logged to a | project partner (Millrock Resources) | |
| level of detail to support appropriate Mineral | qualified geologists using a project | |
| Resource estimation, mining studies and | specific logging procedure. Data | |
| metallurgical studies. | recorded includes, but is not limited | |
| • Whether logging is qualitative or quantitative | to, lithology, structure, quality, | |
| in nature. Core (or costean, channel, etc.) | recovery, alteration, sulphide | |
| photography. | mineralogy and presence of visible | |
| • The total length and percentage of the | gold. This is supervised by senior | |
| relevant intersections logged. | geologists familiar with the | |
| mineralisation style and nature. | ||
| Resolution’s Exploration Manager | ||
| and Managing Director monitor drill | ||
| core remotely using photographs | ||
| and logs. Lithology is measured to | ||
| ~3cm scale marked from the | ||
| closest core block. Rock codes | ||
| have been set up specifically for the | ||
| project. Logging is to a sufficient | ||
| level of detail to support appropriate | ||
| Mineral Resource estimation and | ||
| mining studies. | ||
| •Drill logging is both qualitative by | ||
| geological features and quantitative | ||
| by geotechnical parameters. | ||
| Photographs are taken of all cores | ||
| trays, (wet) of whole core prior to | ||
| cutting. | ||
| •All drilled intervals are logged and | ||
| recorded as standard operating | ||
| practice. | ||
| Sub- | • If core, whether cut or sawn and whether | •Drill core was initially cut and |
| sampling techniques |
quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or |
submitted for analysis at the ALS laboratory in Fairbanks. Due to high demand at ALS, RML opted to |
| and sample preparation |
dry. • For all sample types, the nature, quality and appropriateness of the sample preparation |
outsource core cutting to Metallogeny Inc. in Fairbanks and sample analysis to BV laboratory in |
| technique. | Fairbanks to improve assayturn |
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ASX RELEASE
| Criteria | JORC Code explanation | Commentary | |
|---|---|---|---|
| • Quality control procedures adopted for all | around time. | ||
| sub-sampling stages to maximise | •Selective sampling techniques were | ||
| representivity of samples. | not used, all core was sampled. | ||
| • Measures taken to ensure that the sampling | •Half HQ core was taken as the | ||
| is representative of the in situ material | sample and is considered | ||
| collected, including for instance results for | representative and appropriate for | ||
| field duplicate/second-half sampling. | exploration stage. Field duplicates | ||
| • Whether sample sizes are appropriate to the | of quarter core were submitted on a | ||
| grain size of the material being sampled. | 1:50 basis (2%). Appropriate high, | ||
| medium and low gold and base | |||
| metal standards (CRM’s) are used | |||
| on a 1:20 basis (5%). Blanks are | |||
| inserted on a 1:50 basis (2%). | |||
| Laboratories introduce QAQC | |||
| samples and complete duplicate | |||
| check assays on a routine basis. | |||
| •Sample preparation is considered | |||
| appropriate and was undertaken by | |||
| ALS Fairbanks (ALS Code Prep- | |||
| 31Y) and BV Fairbanks (PRP70- | |||
| 250) both using 70% to <2mm | |||
| Crush and Pulverize 85% to <75 | |||
| um. Samples were split and were | |||
| subsequently analysed at ALS | |||
| laboratory in Whitehorse, Canada | |||
| and BV laboratory in Reno, | |||
| Nevada. Gold was analysed by | |||
| Fire Assay (specifically ALS code | |||
| Au-AA25 and BV code FA430/AA). | |||
| Both Au by fire assay and AAS | |||
| finish using a 30gram nominal | |||
| sample weight. No multi-element | |||
| analysis was completed on the | |||
| samples. | |||
| •Quarter core field duplicates were | |||
| sampled to assess Au variability. | |||
| The company considers analysing | |||
| half core to be representative and | |||
| appropriate for the stage of | |||
| exploration, with half core retained | |||
| for audit purposes. | |||
| •Sample size as defined above is | |||
| considered appropriate to the | |||
| materialsampled. | |||
| Quality | of | • The nature, quality and appropriateness of | •The sampling digest methods are |
| assay and |
data | the assaying and laboratory procedures used and whether the technique is considered partial or total. |
considered appropriate and industry standard. ALS method Au- AA25 and BV method FA430/AA |
| laboratory tests |
• For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis |
are fire assay techniques were applied. •No use of portal XRF is reported. |
|
| including instrument make and model, | •QAQC procedures included the | ||
| reading times, calibrations factors applied and | insertion of appropriate high, |
||
| their derivation, etc. | mediumandlowgold and base |
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ASX RELEASE
| Criteria | JORC Code explanation | Commentary | Commentary | |
|---|---|---|---|---|
| • Nature of quality control procedures adopted | metal Certified Reference Materials | |||
| (e.g. standards, blanks, duplicates, external | (CRM) on a 1:20 basis (5%), Blank | |||
| laboratory checks) and whether acceptable | material on a 1:50 basis (2%) and | |||
| levels of accuracy (i.e. lack of bias) and | Field Duplicates on a 1:50 basis | |||
| precision have been established. | (2%) for a total insertion rate of 9%, | |||
| which is appropriate to the | ||||
| exploration stage. QC checks are | ||||
| conducted after results are received | ||||
| utilising Company QC and supplied | ||||
| internal laboratory QC information. | ||||
| Laboratories introduce QAQC | ||||
| samples and complete duplicate | ||||
| check assays on a routine basis. | ||||
| No abnormalitieswere detected. | ||||
| Verification | • The verification of significant intersections by | • | At least two geologists have | |
| of sampling and |
either independent or alternative company personnel. • The use of twinned holes. |
reviewed the physical core in addition to offsite RML and Millrock geologists reviewing the logging |
||
| assaying | • Documentation of primary data, data entry procedures, data verification, data storage |
• | and photographs. No twinned holes. |
|
| (physical and electronic) protocols. | • | Drilling information is digitally | ||
| • Discuss any adjustment to assay data. | entered and stored following | |||
| documented core handling | ||||
| procedures and backed up | ||||
| electronically. | ||||
| • | No adjustment has been made to | |||
| theprimaryassaydata. | ||||
| Location | of | • Accuracy and quality of surveys used to | • | All maps and locations are in UTM |
| data points | locate drill holes (collar and down-hole surveys), trenches, mine workings and other |
grid (NAD83 Z6N) and have been measured by hand-held GPS with |
||
| locations used in Mineral Resource | a lateral accuracy of ±4 metres | |||
| estimation. | and a vertical accuracy of ±10 | |||
| • Specification of the grid system used. | metres. | |||
| • Quality and adequacy of topographic control. | ||||
| Data | • Data spacing for reporting of Exploration | • | Data spacing is insufficient to | |
| spacing and distribution |
Results. • Whether the data spacing, and distribution is sufficient to establish the degree of geological |
establish the degree of geological and grade continuity required for a Mineral Resource estimation. |
||
| and grade continuity appropriate for the | • | Sample composting has not been | ||
| Mineral Resource and Ore Reserve | applied to these exploration | |||
| estimation procedure(s) and classifications | results. | |||
| applied. | ||||
| • Whether sample compositing has been | ||||
| applied. | ||||
| Orientation | • Whether the orientation of sampling achieves | • | The relationship between the | |
| of data relation |
in to |
unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. |
drilling orientation and the orientation of key mineralised structures has not been confirmed. |
|
| geological structure |
• If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have |
|||
| introduced a sampling bias, this should be | ||||
| assessed and reported if material. |
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ASX RELEASE
| Criteria | JORC Code explanation | Commentary | Commentary | |
|---|---|---|---|---|
| Sample | • The measures taken to ensure sample | • | A secure chain of custody protocol | |
| security | security. | has been established with the site geologist locking samples in |
||
| secure shipping container at site | ||||
| until loaded by courier to secure | ||||
| restricted access room at | ||||
| Fairbanks ALS laboratory for core | ||||
| processing by Millrock staff | ||||
| geologists. | ||||
| • | Cutting and sampling was initially | |||
| undertaken at the ALS site and | ||||
| delivered directly to ALS staff. Due | ||||
| to high demand at ALS, RML | ||||
| opted to submit some samples to | ||||
| ALS directly in Fairbanks and | ||||
| outsource core cutting to | ||||
| Metallogeny Inc. in Fairbanks and | ||||
| sample analysis to BV laboratory | ||||
| in Fairbanks. Millrock staff | ||||
| geologists arranged courier from | ||||
| the logging facility at ALS to | ||||
| secure rooms at Metallogeny and | ||||
| then secure rooms at Fairbanks | ||||
| BV laboratory. | ||||
| Audits | or | • The results of any audits or reviews of | • | No review has been undertaken at |
| reviews | sampling techniques and data. | this time. |
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
| Criteria | Criteria | JORC Code explanation | Commentary |
|---|---|---|---|
| Mineral | • Type, reference name/number, location and | •Resolution Minerals Ltd executed a | |
| tenement and land |
ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, |
binding agreement with Millrock Resources to acquire, via joint venture earn-in, up to 80% interest |
|
| tenure | native title interests, historical sites, | of the 64North Project in Alaska | |
| status | wilderness or national park and environmental settings. |
(ASX:RML Announcement 16/12/2019). |
|
| • The security of the tenure held at the time of | •The total tenement area comprising | ||
| reporting along with any known impediments | the 64North Project consists of | ||
| to obtaining a licence to operate in the area. | 1176 State of Alaska claims | ||
| (66,050 hectares). | |||
| •The 64North Project is located | |||
| approximately 120km east of | |||
| Fairbanks. | |||
| •The tenure is in good standing and | |||
| noknown impediments exist. |
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ASX RELEASE
| Criteria | Criteria | JORC Code explanation | Commentary | Commentary |
|---|---|---|---|---|
| Exploration done by |
• Acknowledgment and appraisal of exploration by other parties. |
• • |
Previous exploration work includes; Surface Geochemical Sampling: |
|
| other | parties | Pan concentrates, fine silts, silts, | ||
| soils & rock chips. Airborne | ||||
| Geophysics: EM, LiDAR, | ||||
| Radiometric & Magnetics. | ||||
| Ground Geophysics: Magnetics, | ||||
| Radio-metrics, EM, VLF-EM, | ||||
| NSAMT & CSAMT. | ||||
| Exploration Drilling: 46 Diamond. | ||||
| Geology | • Deposit type, geological setting and style of | • | Resolution Minerals Ltd is primarily | |
| mineralisation. | exploring for Intrusion Related Gold | |||
| mineralisation (e.g. Pogo-style) | ||||
| within the Yukon-Tanana Terrane | ||||
| of thenorthernCordillera,Alaska. | ||||
| Drill | hole | • A summary of all information material to the | • | See Appendix 1 summary table of |
| Information | understanding of the exploration results including a tabulation of the following |
• | drill hole results. An accurate dip and strike and the |
|
| information for all Material drill holes: | controls on mineralisation are yet | |||
o easting and northing of the drill hole collar |
to be determined and the true | |||
o elevation or RL (Reduced Level – |
width of the intercepts is not yet | |||
| elevation above sea level in metres) of the | known. | |||
| drill hole collar | ||||
o dip and azimuth of the hole |
||||
o down hole length and interception depth |
||||
o hole length. |
||||
| • If the exclusion of this information is justified | ||||
| on the basis that the information is not | ||||
| Material and this exclusion does not detract | ||||
| from the understanding of the report, the | ||||
| Competent Person should clearly explain why | ||||
| this is the case. | ||||
| Data | • In reporting Exploration Results, weighting | • | Sample length weighted averaging | |
| aggregation methods |
averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually |
was used to calculate the aggregated intervals of significant mineralisation. A cut off of 0.3 g/t |
||
| Material and should be stated. | Au has been applied for significant | |||
| • Where aggregate intercepts incorporate short | intersections. No top cut has been | |||
| lengths of high-grade results and longer | applied. There is no internal | |||
| lengths of low-grade results, the procedure | dilution. | |||
| used for such aggregation should be stated | • | No metal equivalents have been | ||
| and some typical examples of such | used. | |||
| aggregations should be shown in detail. | ||||
| • The assumptions used for any reporting of | ||||
| metal equivalent values should be clearly | ||||
| stated. | ||||
| Relationship | • These relationships are particularly important | • | Down hole length has been | |
| between mineralisati |
in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its |
reported, as true width is not known, as insufficient work has been undertaken to understand the |
||
| on | widths | nature should be reported. | true width of intervals. | |
| • If it is not known and only the down hole | • | A structural interpretation is being |
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ASX RELEASE
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| and | lengths are reported, there should be a clear | undertaken by an external |
| intercept lengths |
statement to this effect (e.g. ‘down hole length, true width not known’). |
consultant •“Down hole length, true width not known” is stated in the notes to |
| Table 1a. | ||
| Diagrams | • Appropriate maps and sections (with scales) | •Plan view of drill collar locations |
| and tabulations of intercepts should be | have been included in the body of | |
| included for any significant discovery being | this report. | |
| reported These should include, but not be | •Sections for each drill hole has also | |
| limited to a plan view of drill hole collar | been provided. | |
| locations and appropriate sectional views. | ||
| Balanced | • Where comprehensive reporting of all | •The reporting is considered |
| reporting | Exploration Results is not practicable, representative reporting of both low and high |
balanced. •Comprehensive reporting of all |
| grades and/or widths should be practiced to | drilling, trench, soil samples has | |
| avoid misleading reporting of Exploration | occurred in historical reports and | |
| Results. | reported when appropriate here. | |
| Other | • Other exploration data, if meaningful and | •Resolution Minerals completed a |
| substantive exploration |
material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical |
ZTEM survey. See ASX:RML announcement released on the 25/08/2020 for details. |
| data | survey results; bulk samples – size and | •Millrock Resources completed a |
| method of treatment; metallurgical test | CSAMT survey. See TSX.V: MRO | |
| results; bulk density, groundwater, | announcement, released on the | |
| geotechnical and rock characteristics; | 9/10/2019 for details. | |
| potential deleterious or contaminating | ||
| substances. | ||
| Further | • The nature and scale of planned further work | •Drilling is ongoing at the Aurora |
| work | (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). |
Prospect and a plan view of drill collar locations has been provided |
| • Diagrams clearly highlighting the areas of | in the body of this report. | |
| possible extensions, including the main | ||
| geological interpretations and future drilling | ||
| areas, provided this information is not | ||
| commercially sensitive. |
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