Resolution Minerals Ltd (“RML” or the “Company”) (ASX: RML) is pleased to announce that it has entered into a binding agreement for the acquisition of a brownfields Antimony and Gold project located in Idaho of the United States of America.
HIGHLIGHTS
- Resolution Minerals Ltd (ASX:RML) has entered into a binding agreement to acquire the Horse Heaven Antimony-Gold-Silver-Tungsten Project (“Horse Heaven” or “Project”), located in the historical Stibnite Mining District of Valley County, central Idaho.
- Horse Heaven shares its eastern boundary with NASDAQ-listed Perpetua Resources’ Stibnite Gold- Antimony Project (PPTA.NAS ~A$2bn market cap).
- Horse Heaven hosts two highly prospective Gold- Antimony-Tungsten prospects known as the Antimony Ridge Fault Zone (“ARFZ”) and the Golden Gate Fault Zone (“GGFZ”).
- Drill-ready targets; drilling planned to start in 2025
- The Antimony Ridge Fault Zone has an approximate strike length of 1.2 km and hosts known gold–antimony– silver-tungsten mineralisation associated with hydrothermally altered and sheared granodiorite.
- The Golden Gate Fault Zone has an approximate strike length of 3.5km and hosts the Golden Gate Hill target. It hosts known disseminated gold mineralisation, like Antimony Ridge Fault Zone, associated with hydrothermally altered and sheared granodiorite.
- Tungsten was produced from Golden Gate Hill between the 1950’s and 1980’s.
- Results from past systematic sampling and preliminary drilling at both prospects are highly encouraging, indicating large tonnage mining potential.
- Highlight past rock chip results at Horse Heaven (Antimony Ridge) (Appendix C) include:
- Rock chip sample 329003 with 3.68g/t gold, 303g/t silver and 2.72% antimony over 4m.
- Rock chip sample 329014 with 1.33g/t gold, 367g/t silver and 13.75% antimony over 1m.
- Rock chip sample 329015 with 4.65g/t gold, 70.5g/t silver and 19.15% antimony over 1m.
- Rock chip sample 329085 with 3.21g/t gold, 178g/t silver and 0.37% antimony over 3m.
- Rock chip sample 329089 with 5.99g/t gold, 246g/t silver and 0.71% antimony over 1m.
- Highlight past drilling results at Horse Heaven (Appendix B) include drill intersections of:
- Drill hole 87-GGR-31: 85.34m @ 0.937g/t Au (true width unknown), including 38.10m @ 1.459g/t Au.
- Drill hole 86-GGR-10: 105.16m @ 0.787g/t Au (true width unknown); including 51.82m @ 0.990g/t Au.
- Drill hole 86-GGR-01: 30.48m @ 1.354g/t Au (true width unknown).
- Historical, non-JORC gold resource of 216,000 ounces of gold in 7,256,800 tons of material at a grade of 0.93g/t at Golden Gate Hill, and gold resource of 70,000 ounces of gold in 3,174,850 tons of material at a grade of 0.69g/t at Antimony Hill are noted in previous reports of Horse Heaven.
Cautionary note:
The estimate is a ‘historical estimate’ under ASX Listing Rule 5.12 and is not reported in accordance with the JORC Code. A Competent Person has not yet undertaken sufficient work to classify the historical estimate as mineral resources or ore reserves in accordance with the JORC Code. It is uncertain that, following evaluation and/or further exploration work, it will be possible to report this historical estimate as mineral resources or ore reserves in accordance with the JORC Code.
- Horse Heaven also hosts 10km to 15km of additional strike length of potentially mineralised faults and shears traversing favourable host rocks.
- The Exploration Model applicable for the Horse Heaven Project is Intrusion Related Gold System (“IRGS”) and a deposit analogue for the Horse Heaven Project is the adjacent NASDAQ-listed Perpetua Resources Corp (PPTA.NAS, ~A$2 billion market cap) owned Stibnite Gold Mine.*
- The Stibnite Gold Mine is located 5km to the east of the Horse Heaven Project and, once reopened, will be the only domestically mined source of antimony in the U.S.1
- Past exploration at Horse Heaven includes historical (1890 to 1950), late 1900s (1970 to 1990s) and modern (2000 to 2023) exploration phases, with the latter mainly conducted by TSX-V-listed Stallion Uranium Corp.
- Antimony, Tungsten and Gold at record high prices as China tightens grip on critical minerals exports.
- The Horse Heaven Project complements the Company’s recently acquired Australian Au-Sb-Cu projects to create a dynamic portfolio highly leveraged for gold and antimony.
RML’s Executive Director, Aharon Zaetz commented:
“The Board considers that the acquisition of the Horse Heaven Project has the potential to be a transformative event for RML. As many governments around the world look to onshore their supply of critical minerals, such as antimony and tungsten, we have secured a commanding ground position with known antimony occurrences and next to what is likely to become the largest antimony producer in the USA.
RML’s entry into US critical minerals comes at a terrific time, with the market attributing huge premiums to ASX-listed companies operating in the space over the last 8 weeks, such as Dateline Resources (DTR), Trigg Minerals (TMG) and Locksley Resources (LKY) which have all seen significant re-ratings in recent weeks, thanks to the supportive pro-mining policies of new President Donald Trump.”
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