Resolution kicks off exploration at exciting US gold and antimony project

Resolution Minerals is wasting no time starting exploration at its Horse Heaven project in the US, a historic producer of strategically important metals antimony and tungsten.

It’s game time for Resolution Minerals, which is kicking off exploration at Horse Heaven. Pic: Getty Images.

• Resolution Minerals kicks off exploration at Horse Heaven in Idaho

• Project is located adjacent to Perpetua Resources’ 4.8Moz Stibnite gold and antimony mine

• Early exploration activities lay the groundwork for the expected start of drilling in August

Special Report: An ASX-listed explorer has given the green light to a maiden exploration program on one of the hottest blocks of antimony rich rocks in the USA as the world’s largest economy seeks to ramp up development to solidify its war footing.

The Horse Heaven project sits immediately adjacent to the $2bn capped Perpetua Resources’ Stibnite gold mine, where government officials have made the return to production of the antimony-endowed project a national priority.

Resolution Minerals (ASX:RML) is in the process of acquiring Horse Heaven, which sits in the aptly named Stibnite mining district of Valley County in Central Idaho.

Such is its confidence in the project, an historic producer of military metal antimony during both the First and Second World Wars, it will kick off early exploration activities this month ahead of the acquisition’s close.

Antimony, a commodity which saw prices charge 5x last year to a record US$60,000/t after major producer and refiner China shut off exports, isn’t the only metal in RML’s laser-focused sights.

The project is also prospective for gold – currently fetching US$3250/oz – silver and tungsten, the latter a similarly significant critical mineral used in ammunition, high-strength alloys and armour plating.

Tungsten was produced and milled intermittently at Horse Heaven between the 1950s and the 1980s.

As the adage goes, the best place to find a new mine is under (or nearby) an old one.

The first port of call for Resolution will be to assess the true extent of surface mineralisation across its two key areas, the Golden Gate and Antimony Hill Fault Zones.

That will lay the groundwork to outline targets for first pass drilling, to assess the potential of the ground next door to the 4.8Moz Stibnite.

“This maiden exploration program represents a key step forward in progressing our flagship U.S.-focused critical metals development strategy,” Resolution’s CEO elect of US operations Craig Lindsay said.

“The Horse Heaven Project boasts a strong historical production legacy, is well-located adjacent to the US$2.2B Stibnite Mine development and represents significant blue-sky potential for investors.

“Our fieldwork will focus on confirming historical data, assessing the location and state of previous workings, and gaining insight into the broader geological footprint, which is analogous to Perpetua’s Stibnite Project.”

The US is entirely dependent on foreign antimony supply, placing projects like Horse Heaven on a potential fast-track should drilling turn up trumps (no pun intended).

RML is ready to begin exploration near the 4.8Moz Stibnite gold and antimony project. Pic: RML

The rundown

Alongside extensive mapping and sampling of the Golden Gate Fault Zone, which will expand geological knowledge and identify extensions north and south of historic drilling, mapping and sampling will also take place at the Antimony Creek and Vibeka Creek target areas.

Drill sites will be confirmed for a planned August program and inform future geophysics and drill targeting.

While nearology doesn’t translate directly to discovery, there is plenty of smoke to suggest there could be fire at Horse Heaven.

That includes past production of antimony and tungsten as well as artisanal gold mines.

At Antimony Ridge, a 1.2km strike known to host all four key commodities on the site has previously delivered strong results.

Targets will be generated across the Golden Gate and Antimony Ridge Fault Zones. Pic: RML

Antimony, gold and silver mineralisation is exposed at surface along 500m of historical trenching, while 61 rock samples were systematically collected in 2022 and 2023, primarily consisting of chip transects across strike of mineralisation.

Over 60% picked up results above 1g/t gold, peaking at 5.9g/t Au, 19% Ab and 367ppm Ag.

There’s limited historical drilling. Golden Gate presents an even larger target, with an approximate 3.5km strike length.

Shallow RC drilling in 1986, 1987 and 1994 included results such as 36.6m at 1.51g/t, 71.6m at 1.37g/t and 59.4m at 1.03g/t, with antimony and tungsten grades yet to be sampled for.

Nothing longer than 170m was ever drilled and nothing beyond the shallow oxide zones hit because gold prices at the time led most explorers to chase shallow ounces that could be mined in open pits and processed with heap leach, suggesting the opportunity to uncover primary mineralisation at depth.

With prices near record highs and a major mine development on the way nearby, deeper targets are far more likely to be economic.

Behind the scenes

RML has plenty more work streams going on around Horse Heaven, with a permit from the United States Forest Service expected soon to enable exploration drilling in August.

But it’s kicking goals off the park as well.

RML has begun engagement with the US government “to explore potential access to various federal programs and incentives to fast-track permitting approvals and US Department of Defence funding grants for Horse Heaven.”

It’s also progressing an OTC listing in the US, which will open the stock up to North American capital.

Along with the appointment of Lindsay as US CEO, RML has also picked up former Perpetua geo Austin Zinsser as its lead geologist and engaged Washington-based external affairs advisor Todd Clewett to lead its bid to gain FAST-41 access for Horse Heaven.

The program, which is enshrined in legislation, is designed to improve the timeliness, predictability, and transparency of the federal environmental review and permitting process.

Clewett’s lobbying work includes an instrumental role in Jindalee Lithium’s (ASX:JLL) successful FAST-41 application for its McDermitt lithium project.

This article was developed in collaboration with Resolution Minerals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.