AUS
NZ
UK
CA
USA
IND
Highlights
- Resolution Minerals (RML) initiates a LiDAR survey at the newly acquired Drake East project in NSW, anticipating high-grade antimony, gold, and silver mineralisation.
- The company aims to solidify its role as a critical minerals explorer and developer amidst rising antimony and gold prices.
- Drake East's close proximity to known mineralised zones presents promising exploration prospects and potential market value enhancement.
Resolution Minerals (ASX:RML) has embarked on an ambitious phase of exploration with the initiation of a LiDAR survey at its recently acquired Drake East project in New South Wales. The objective is to better understand the potential for high-grade mineralisation within what is believed to be a diverse deposit of antimony, gold, and silver. This move comes at a time of record-high prices for antimony and gold, driven by external economic factors including China's export restrictions impacting the supply of these critical minerals.
The Drake East project is strategically positioned adjacent to the Drake project, currently under development by Legacy Minerals (ASX:LGM). This location advantage is significant as it lies within a broader zone renowned for its rich mineral resources. Existing data suggests that antimony occurrences span a strike length of over 15 kilometers within this mineralised region, showcasing a promising prospect for Resolution Minerals.
Sampling efforts have already yielded impressive assays with antimony concentrations peaking at 5.72%, alongside notable gold and silver grades. Such findings underscore the potential for substantial resource development, aligning with Resolution Minerals' vision of defining itself as a key player in the critical minerals sector.
The comprehensive LiDAR survey is set to enhance mineral prospectivity by identifying historical workings and geomorphological features associated with mineralisation. This initiative is poised to expand the understanding of antimony deposits considerably, mirroring similar successes achieved by neighboring projects.
Additional exploration activities, including geophysical surveys, geochemical sampling, and systematic drilling programs, are planned to delve deeper into the project’s potential. The Drake East project boasts 14 known antimony occurrences and over 50 gold sites, including the prospective Mosquito Creek antimony-gold reef and the Lanikai placer gold resource.
Beyond Drake East, Resolution Minerals is also focusing on two other promising acquisitions: the Neardie project in Queensland and the Spur South gold-copper project in the Macquarie Arc metal belt. Each site offers distinct opportunities for high-grade mineral discovery, notably in antimony and gold, which play crucial roles in a variety of industrial applications and economic growth.
With the integration of these projects, Resolution Minerals aims to broaden its exploration footprint significantly across Australia’s rich mineral landscape. The company’s strategic expansion into promising, underexplored areas embodies its commitment to unlocking substantial value through the development of critical mineral assets.
