RML begins stream sediment program at Horse Heaven
Our Investment Resolution Minerals (ASX: RML) just announced a soil sampling program has begun its project in Idaho, USA.
RML’s project is next door to $3BN Perpetua Resources whose project has the biggest antimony resource and one of the biggest open-pit gold resources in the USA.
Perpetua recently had US Government and defence delegates on site as it received development approval to begin construction on site.
RML holds a big land package to the east of Perpetua and so far has identified two main prospective areas in the far north-western corner of its ground:
1. The Golden Gate target (RML IS DRILLING HERE NOW) - Here RML has ~3.5km of known strike where old drillholes have delivered hits as good as ~71.6m at 1.37g/t gold and 36.6m at 1.51g/t gold. None of the old drilling here was ever tested for antimony or tungsten.
RML has already put out visuals from the first few holes from Golden Gate- which we covered here: RML drilling update: So far so good… next door to $3BN Perpetua.
2. Antimony Ridge (Sampling results released last week) - an area with ~1.2km of KNOWN strike. Antimony, gold and silver are all exposed at surface here across old trenches and old rock chip sampling data has picked up gold grades as high as ~5.9g/t gold, 19% antimony and ~367g/t silver.
We covered these sampling results from this area a week ago in our Quick Take: RML samples 49.8% antimony, 1,420 g/t silver and 3.12 g/t gold
Today’s update is beginning the search outside of these 2 areas over a vast area of 59km2 with sampling planned to be conducted over 44km of streams with around 100 samples to be collected.
(Source)
This program will be targeting antimony, tungsten, gold and silver which are known to exist on the 2 known prospective areas Golden Gate and Antimony Ridge.
This will be the first modern district scale geochemical program to be undertaken at the Horse Heaven project, with the aim to define new high priority targets across the 59km2 area.
The program will help test the theory that mineralisation from $3BN capped Perpetua Resources is spread across both project areas with RML including this graphic in today's announcement.
(Source)
There are currently some parallels between Perpetua’s resource with higher grade zones found within faults/fractures/shears and RML also believing the same.
It is interesting to note that RML believes the centre of this occurs on the central eastern part of their project.
This would leave plenty of land for high grade mineralised faults/fractures/shears to have occurred on the Horse Heaven side if the theory can be validated.
(Source)
Should the sediment sampling program uncover promising results, it would provide the company with very strong reason to drill into these areas with the indication that mineralisation like Perpatua’s could be underneath.
The company expects that if this program produces encouraging results, that follow up work would likely include mapping, grid solid programs, ground geophysical surveys and drill testing.
What’s next for RML?
Drilling (underway) 🔄
RML is currently drilling its Golden Gate target.
We should start to see assays from this drill program soon leading up to a maiden resource estimate on the project in the first half of 2026:
RML expecting to go back to back and get a maiden resource out by the second half of 2026:
(Source)
US government funding 🔄
RML’s CEO of US operations, in a recent interview specifically said RML would attempt to get “non dilutive funding from the US defence industry”.
We think that any funding announcement (especially if it's non-dilutive) could be big for RML.
First because it would give the company cash to put into the ground and second because it would bring a new set of eyeballs to the stock (from the US crowd).
Check out the full interview with RML’s CEO of US operations - Craig Lindsay here: WEBINAR: Resolution Minerals (RML.ASX) US Drive on Antimony & Tungsten to Nasdaq?
US NASDAQ Listing 🔄
RML is also progressing with a NASDAQ listing, legal applications have been made. RML wants to list on the NASDAQ next quarter.
RML has engaged Roth Capital Partners to run the NASDAQ listing process. (Source)
Interestingly, Roth was behind the recent capital raises done by Perpetua Resources.
(Source)
We said in a previous RML note that there would likely be a big crowd of investors that have made money on Perpetua now looking for “Perpetua 2.0...”
Roth, having helped just close out that US$425M raise for Perpetua, will likely know how to find those people and introduce them to RML.
(Additionally Roth have had success with bringing ASX companies to the right US investors before, which we covered here)
Soil sampling program 🔄
WIth the project wide sediment soil sampling program underway, results from this could help define high priority targets.
Testing the theory that next door neighbour Perpatua could have part of this mineralisation with more yet to be found on RML’s side.
The company expects that if positive results are found from this, follow up work would likely include mapping, grid soil programs, ground geophysical surveys and drill testing.
