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Highlights
- Resolution Minerals has received final U.S. Forest Service approval for the Horse Heaven Project in Idaho.
- Drilling is set to begin in August 2025, pending completion of the project acquisition.
- The approval allows the company to drill up to 57 holes from 19 sites along existing access roads.
- Phase 1 will initially target the Golden Gate area and include up to 20 deep drill holes covering ~20,000 feet.
- The program aims to test gold, antimony, and tungsten potential beyond historic oxide limits.
- The completion of the acquisition is subject to two conditions, the company’s due diligence and shareholder approval, to be sought on 25 July 2025.
Resolution Minerals Ltd (ASX:RML) has received final approval from the U.S. Forest Service for its Horse Heaven Project in Idaho, clearing the way to commence a Phase 1 drilling campaign. The drilling program is set to begin in August 2025, pending the anticipated completion of the project acquisition. The company has confirmed that a key acquisition condition has already been satisfied.
The approval for its proposed Plan of Operations allow Resolution Minerals to drill up to 57 holes from 19 sites, all located along existing access roads. The Phase 1 drilling campaign will initially target up to 20 drill holes, spanning ~20,000 feet at the Golden Gate target area.
Golden Gate Ridge – A Key Exploration Target
Golden Gate Ridge, a 3.5-kilometre-long structural zone, hosts known disseminated gold mineralisation within hydrothermally altered and sheared granodiorite. This area has been historically explored, with Reverse Circulation (RC) drilling campaigns conducted in 1986, 1987, and 1994.
Significant historic assay results include:
- GGR-31: 36.6m @ 1.51 g/t gold
- GGR-32: 71.6m @ 1.37 g/t gold
- GGR-33: 59.4m @ 1.03 g/t gold
These historic programs primarily focused on shallow, oxide gold mineralisation suitable for open-pit, heap leachable ore. The upcoming campaign will be the first to test deeper sulphide zones and explore the potential presence of antimony and tungsten mineralisation.
Acquisition Milestone Reached
The project is located adjacent to Perpetua Resources Corp’s (NASDAQ:PPTA) AUD 2 billion Stibnite Gold Mine.
The vendor of the Horse Heaven Project, 1503571 B.C. (“150 BC”), has exercised its option and acquired 100% of 1262446 B.C. Ltd (“12 BC”), which, through its wholly owned subsidiary Horse Heaven Holdings Inc., owns the Horse Heaven Project.
The project acquisition remains subject to two conditions:
- Completion of due diligence on 150BC, 126BC and related project assets.
- Shareholder approval, which will be sought at the General Meeting scheduled for 25 July 2025.
Additional Exploration Activities Underway
Ahead of the drilling campaign, Resolution is finalising contracts with a drilling contractor and other key service providers. The company has also commenced a sampling and mapping program at Antimony Ridge, Golden Gate and other emerging targets to support future drilling activities.
Depending on the results of Phase 1 drilling, a follow-up Phase 2 drilling campaign is planned for Spring/Summer 2026.
RML shares were trading 2.22% higher at AUD 0.046 per share at the time of writing on 9 July 2025.
