Published: January 31, 2022 |

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Resolution Minerals has secured a 42 percent stake in the 64North gold project, which is located in the center of the Tintina gold that spans from the Yukon in Canada to the Alaskan Coast.

The stake is earned by the company through completing the stage two expenditure requirements and a $100,000 cash payment to Millrock Resources.

In October 2019, Resolution had entered into an option, earn-in and joint venture (JV) agreement with Millrock to purchase a 60 percent stake over four years.

Resolution has to spend a further $1.15 million on the project and issue 10 million shares in the company, as well as to pay $100,000 by July 2023 to Millrock to earn 51 percent stake in the project.

“The opportunity for Resolution shareholders to secure the ground surrounding the operating world-class high-grade Pogo Gold Mine, was created (in 2019) by a unique set of circumstances that a junior is rarely able to grab,” said Resolution Minerals Managing Director Duncan Chessell.

“The solid work and extensive new data sets collected in 2020/21 has identified both large scale IRGS gold and Cu-Mo-Au porphyry targets for follow up in 2022,” added Chessell.

The current project area is subdivided into five blocks, including West Pogo, East Pogo, South Pogo, Divide, and Last Chance.

A joint venture will be established over the complete project following the completion of a 60 percent earn-in on the complete project by Resolution.

Later, the company can establish a specific joint venture on one block of interest and earn up to 80 percent ownership on one block.

Since signing a deal, Resolution had completed 5000m of diamond core drilling across nine holes at the aurora, reflection and echo prospects on the West Pogo block, in addition to a 12-hole 1,663m RC drill program at the East Pogo prospects.

The 64North project is beside the Northern Star’s Pogo gold mine, which has produced more than 4m ounces of gold at 300,000 ounces of gold per annum.

Source: NS Energy

About Resolution Minerals
Resolution Minerals Ltd is a mineral exploration company engaged in the acquisition, exploration and development of precious and battery metals - such as gold, copper, cobalt, and uranium. Resolution Minerals is focused on the exploration of the Wollogorang Copper Cobalt Project. It has since added the battery-metals Benmara Project and earned an interest in the highly prospective 64North Gold Project in Alaska.

To stop by Resolution Minerals’ website, CLICK HERE

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