RML samples 49.8% antimony, 1,420 g/t silver and 3.12 g/t gold
Our Investment Resolution Minerals (ASX: RML) just announced a batch of sampling results from its second prospect on its ground in Idaho, USA.
RML’s project is next door to $2.8BN Perpetua Resources whose project has the biggest antimony resource and one of the biggest open-pit gold resources in the USA.
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 (Today’s news is from here) - 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.
Today, RML put out sampling from its second prospect with rock chips returning 49.8% antimony, 1,420g/t silver and 3.12g/t gold.
(Source)
All of those are seriously high grade - but of course they are rock chips so that is to be expected.
(Source)
Antimony Ridge has previously produced high grade antimony from small open pits during WWI, WWII, and into the early 1950s.
In those old pits we have seen RML pick up samples that have shown antimony-gold and silver before:
(Source)
The new news today was the new soil anomaly defined over a 1km x 0.3km area - which is a good indicator for where RML could be drilling next at Antimony Ridge.
Next though we want to see results from the current round of drilling.
Update on RML’s neighbour Perpetua:
RML’s neighbour Perpetua recently announced that it had received initial deal terms on the US$2BN loan from the Export-Import Bank of the United States.
If fully utilised, this funding would mostly cover the expected US$2.2BN capex for its Stibnite project in Idaho.
Read the full news here: Perpetua advances potential $2B Stibnite loan
We think this matters for RML because as Pertpetua makes progress towards construction and production, we would expect to see its valuation increase.
Any increase in RML’s valuation would also be good for RML because the market would put a higher valuation on discoveries nearby.
What’s next for RML?
Drilling (next quarter) 🔄
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)
