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To test Tourmaline Ridge target on West Pogo block in June North of 60 Mining News – May 13, 2022
The 2021 drilling at Tourmaline Ridge will test an area where Resolution Minerals encountered steep veins with up to 4.84 g/t gold in two trenches dug last year on the West Pogo block of the 64North project in Alaska's Goodpaster Mining District.
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Millrock Resources Inc. May 11 reported that Resolution Minerals Ltd. plans to complete roughly 2,200 meters of drilling in five holes at Tourmaline Ridge, a prospect on the 64North project that lies about 4,000 meters southwest of the 1.1-million-ounce Goodpaster deposit on Northern Star Resources Ltd.'s Pogo property.
Under a deal signed at the end of 2019, Resolution has the option to earn up to a 60% joint venture interest in 64North, a roughly 160,000-acre land package Millrock assembled around Northern Star's Pogo property in the Goodpaster Mining District.
So far, Resolution has earned a 42% interest in the project by paying US$150,000 and issuing 3 million shares to Millrock, as well as investing at least US$7 million in exploration through the end of January. Resolution can increase its ownership to 51% by making further cash and share payments to Millrock and funding the 2022 exploration program at 64North.
This exploration program is expected to include drilling a strong target area the Resolution and Millrock technical team have developed at the Tourmaline Ridge prospect.
Prospecting and sampling, including surface rock chip sampling that returned grades as high as 118 grams per metric ton gold, have outlined a 1,800- by 750-meter geochemical anomaly at Tourmaline Ridge.
Resolution cut two trenches for a total of 820 meters across this zone to test for a large-scale gold system that is a hybrid of vein-hosted mineralization similar to Pogo and bulk tonnage mineralization similar to the deposits at Fort Knox.
The Australian explorer says preliminary results from this trenching and the other 2021 exploration have identified the highest-ranking drill target so far at 64North, including a one-meter trench sample that averaged 4.8 g/t gold.
The steep-dipping veins are interpreted to be "antithetic veins," which are smaller veins that run in the opposite direction of larger veins. Millrock says these antithetic veins commonly occur in the hanging wall above gold ore bodies at Pogo.
Historical drilling intersected these veins along with characteristic rock alteration and pathfinder minerals. From geophysical surveys, a moderately northwest dipping structure is interpreted to lie beneath the soil anomaly and previous drill holes at Tourmaline Ridge.
Resolution and Millrock interpret this structure to be the Pogo Trend, which appears to be traced from the Pogo Mine, through the Goodpaster deposit and onward to the Aurora and Tourmaline Ridge prospects on the West Pogo block of the larger 64North property.
Drilling at Tourmaline Ridge is expected to get underway in late June.
"There is an abundance of geologic evidence pointing to a possible gold deposit at Tourmaline Ridge," said Millrock Resources President and CEO Greg Beischer. "We wish Resolution the best of luck as they move the project forward, and we are hopeful for a new gold discovery."
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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