RML to start drilling extensions to US gold discovery

Our US critical minerals and gold Investment Resolution Minerals (ASX: RML) just outlined its drill plan - following up its discovery holes from its US gold project.

So far we have seen assay results from the first three holes which show us RML’s discovery extends over at least ~75m and is open at depth.

The first few holes hit:

• 189.2m at 1.3g/t gold from 34m (ending in mineralisation)
• 253.0m at 1.5g/t gold from surface (ending in mineralisation)

And all of the holes ended in mineralisation - so we don't know how far down the gold system runs…

RML’s working theory had been that its project could host a similar style gold system to the one that hosts $4.5BN Perpetua Resources 6M oz gold ~200M lb antimony resource.

The drill bit is now starting to prove up this theory.

(Perpetua’s project - which recently attracted JP Morgan and Agnico Eagle to invest US$225M - will be one of the biggest gold mines in the US when it comes online).

After RML’s impressive discovery hole last week, the natural question mark is whether or not it was an isolated hit OR the beginnings of a Perpetua style discovery.

RML has confirmed a “Large, open intrusion-related gold system”...

7 drill hole results are still pending from the project, and after today’s announcement, we could see a lot more drilling newsflow from RML over the coming months.

What we did notice is RML is utilising existing drilling pads and is looking to drill down to depths of ~300M (which is usually close to the limits of what an RC rig can do).

We said in our last RML note we want to see the company pepper out this area of its project to really test how big the gold system is:

(Source)

With this new batch of extensional holes, here is what RML will be testing now:

(Source)

Ultimately, we want to see RML drill the project as fast and as quickly as possible - we are looking forward to RML kicking off the 50-hole program that CEO of US operations Craig Lindsay mentioned in today’s announcement:

(Source)

What’s next for RML?

🔄 Drilling results

Next, we want to see assay results from the remaining 7 holes drilled from the first round of drilling RML did at its Golden Gate project.

(Source)

🔄 Complete NASDAQ listing

RML has hired Roth Capital to support a NASDAQ listing.

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

🔲 Sampling and metwork programs

RML will undertake column leach met testing on Golden Gate core samples as well as met testing on the tungsten ore picked up from the mill stockpile.