RML releases remaining results including gold and tungsten, aims to get back drilling soon.

Our US critical minerals and gold Investment Resolution Minerals (ASX: RML | OTC: RLMLF) has just released the final results from its drill program in Idaho, USA.

These drill holes are the final results from the 2025 drilling program, where RML declared a new gold discovery.

RML’s discovery hole hit 189.2m at 1.3g/t gold.

Then RML followed up with 253m at 1.5g/t and now the discovery extends across ~1.5km of strike.

RML’s whole exploration theory is around its ground having the potential to host a similar discovery to Perpetua Resources next door:

So far, here is where RML has drilled from and how Perpetua Resources looks across the fence:

(Source) (Source)

Today, RML put out the final batch of assays from its 2025 drill program - interestingly some of the results today also had tungsten mineralisation:

(source)

RML’s project has a history of critical mineral production including antimony and tungsten (and gold): (source)

• During World War 1: RML’s project produced antimony.
• During World War 2: Antimony was produced again
• In the 1960’s: There was even more Antimony production
• And then in the 1950’s to 1980: Tungsten was produced at RML’s project

RML is the first owner of the asset to actually assay holes at depth for critical minerals - so we are hoping those tungsten assays are just the beginning for the critical minerals potential on RML’s project.

RML is in the process of completing a new plan of operations and drill program which will allow it to continue to expand on the known mineralised area.

There is also plans to drill into the antimony ridge target zone, with a plan of operations to be submitted for this also:

(source)

Below is from our recent deep dive we did on February 9th.

As it is the end of this drilling program, we thought it was a good time to revisit how RML is beginning to shape up compared to how next door neighbour Perpetua did in its early days.

The full deep dive is here: RML hits a second gold discovery - ending in mineralisation, across 1.5km of strike

RML is trying to become Perpetua 2.0

It's still very early days for RML’s project, especially when we compare it to how Perpetua defined a ~6M ounce gold resource.

If we look back at what Perpetua Resources (it used to be called Midas Gold) did, they went from first drilling to a maiden resource in ~2 years.

The first resource they put out was in February 2011 for ~3.38M ounces (indicated and inferred) on two of the three deposits that make up the project. (source)

Then later in April 2011 a ~5.8m ounces of gold (indicated and inferred). (source)

RML is only six holes into drilling the first of its two key prospects (not to mention RML has barely done any work on the rest of its project area):

(Source)

At Golden Gate, RML has a defined 216,000 ounces of gold at 0.93g/t historic foreign resource estimate, based on drilling to depths of ~170m. (source)

Now we have six new diamond holes which have hit gold to ~280M depths with all holes ending in mineralisation...

AND the potential strike is ~3km.

We haven’t even seen a drill program on the Antimony Ridge target yet where there is historical antimony production WITH Gold and silver (up to 55% antimony grades).

(Source) (Source)

RML wants to drill Antimony Ridge this year (alongside those 45 holes planned at Golden Gate).

IF RML can even define something that is even 1/3rd the size of Perpetua’s, we think it would surely start to make the company’s asset interesting from a corporate takeover perspective.

(Especially now with JP Morgan and Agnico Eagle on Perpetua’s register)

(source)

Some sort of external validation from a larger corporate may be the trigger for a real re-rate higher in RML’s share price... of course, before that happens RML will need to show the market that its discovery is getting bigger.

What’s next for RML?

🔲 Next round of drilling

Next, we want to see RML back drilling at its Golden Gate discovery and to also expand the drilling to include a program further south at the Antimony Ridge prospect.

RML confirmed in this announcement that a “Plan of Operation” is being done for done for both which will also cover a much larger drill footprint at Golden gate, aiming for the entire length of the Golden Gate Fault Zone. (source).

So we await for this to be completed, submitted and then approved so drilling can get back underway.

(source)

🔄 Complete NASDAQ listing

Prior, RML has hired Roth Capital to support a NASDAQ listing and recently provided an update on this with the initial paperwork lodged with the SEC. (source)

We covered the Roth partnership in detail here: RML NASDAQ listing is being led by the Roth Capital - early backers of Perpetua Resources