Resolution Minerals Ltd (“RML” or the “Company”) has commenced a Reverse Circulation (RC) drilling program at the Golden Gate Prospect, part of its Horse Heaven Project in Idaho, USA. The program follows the outstanding success of its maiden diamond drilling campaign, which confirmed continuous gold mineralisation from surface, marking Golden Gate as a significant new gold discovery in one of North America’s most prospective and strategically important critical minerals districts.
Figure 1: Horse Heaven Project location map showing Golden Gate and the nearby Stibnite Gold Project
Resolution Minerals’ CEO of US Operations, Craig Lindsay, said: “The first three diamond core holes at Golden Gate all intersected broad, continuous gold mineralisation from surface and each of them ended in mineralisation. That is a standout result for a maiden program and confirms Golden Gate as a new gold discovery in a highly prospective and strategically important U.S. critical minerals district.”
This early success underscores the scale potential of the mineralised system and highlights the strength of Resolution Minerals’ geological targeting. Located only six kilometres west of the fully permitted Stibnite Gold-Antimony Mine, Golden Gate benefits from established regional infrastructure and geological continuity with one of the United States’ most well-known gold-antimony systems.
RC Drilling to Rapidly Step Out from the Discovery Zone
The three-hole, 850-metre (2,789 ft) RC drill program has now commenced, aiming to test strike, width, and depth extensions of the mineralisation intersected in the discovery diamond holes HH-GG25-001C, HH-GG25-002C, and HH-GG25-003C.
The RC holes are designed to evaluate the system’s scale in multiple directions:
- Northern and southern strike extensions to assess lateral continuity.
- Western width extensions to define mineralisation boundaries.
- Depth extensions to determine vertical continuity below existing intersections.
By using existing drill platforms under the current permit, the program avoids the need for new site approvals, allowing for efficient mobilisation and cost-effective drilling.
Mr Lindsay added: “By bringing an RC rig onsite now, we are able to rapidly and cost-effectively step out from the discovery zone to begin defining the scale of the system. The aim of this program is simple, to extend the mineralised footprint and set up the platform for our much larger 50-hole follow-up drill program.”
This approach reflects the Company’s strategy of combining technical precision with operational agility, ensuring that exploration advances quickly while minimising costs. The RC rig, a track-mounted RC1500, will provide rapid drilling turnaround times and allow continuous sample recovery for fast assay generation.
Figure 3: Drill hole location map of the three RC drill holes for the Golden Gate program
Figure 4: Drill parameters for the Reverse Circulation (RC) Program holes
Geological Significance and Broader Exploration Context
The Golden Gate system has now demonstrated broad, continuous zones of gold mineralisation beginning at surface, with all three discovery holes ending in mineralisation. This geological characteristic confirms the potential for a large, open, intrusion-related gold system, a deposit type known for its scale and persistence.
Situated within the Horse Heaven Project, the Golden Gate and Antimony Ridge targets together position RML to explore a district-scale mineral system rich in both precious and critical minerals. The proximity to Stibnite strengthens the project’s potential strategic relevance, especially as the United States prioritises domestic critical mineral production.
Strong Gold Market Conditions Support Exploration Growth
According to the World Gold Council, gold continues to exhibit diverse and stable demand across jewellery, technology, investment, and central bank sectors. This diversity means that as different parts of the global economy shift, gold retains its strength as a self-balancing asset.
Global demand has remained robust, with jewellery consumption steady and investment demand rising amid inflationary and geopolitical uncertainty. Central banks have also continued large-scale purchases, reaffirming gold’s importance as a global reserve asset.
Gold’s performance remains a key driver for exploration sentiment. As of 10th November 2025, gold is trading at US$4,047 per ounce, representing a 1.10% daily increase (+US$43.91). Over the past year, the metal has appreciated by more than 53%, supported by strong investment flows and constrained global supply. Over the last two decades, gold has climbed by more than 750%, reflecting its enduring appeal as both a store of value and a strategic hedge.
JP Morgan analysts have maintained a bullish stance on gold, projecting an average price of $5,055 per ounce by Q4 2026. This forecast is driven by strong investor and central bank demand, expected to average 566 tons per quarter. Analysts described the recent consolidation as a healthy market correction following rapid gains since August. Natasha Kaneva noted that investor hesitation amid sharp price movements is normal and that demand remains robust with few sellers. Looking ahead, the bank maintains a long-term target of $6,000 per ounce by 2028, emphasizing that gold should be viewed as a multi-year strategic investment rather than a short-term trade.
Figure 6: Trend in Gold price over the last 1 year
These trends provide a favourable backdrop for exploration companies like RML, which are actively expanding high-quality, near-surface gold systems in politically stable jurisdictions.
Corporate Performance Reflects Strong Investor Confidence
Resolution Minerals’ (ASX: RML) progress at Horse Heaven has been matched by a significant uplift in market performance. As of 10th November 2025, the Company’s share price was trading at $0.083, up 7.051% on the day, with a market capitalisation of approximately $145.99 million.
RML’s share price has gained over 107% in the past month and an impressive 608% year-to-date, outperforming both the broader ASX 200 and the mining sector average by over 600% on a one-year basis. This growth underscores investor confidence in the Company’s discovery momentum and its expanding presence in the North American gold sector.
Figure 7: RML stock performance since January 2025
Defining the Next Phase of Growth
The current RC program represents the initial step in a broader expansion plan. Once drilling results and assay data are received, RML will advance toward a 50-hole follow-up campaign, which is currently in the permitting phase.
This larger program aims to define the resource scale, continuity, and grade distribution across the Golden Gate system, laying the foundation for future economic evaluation.
Mr Craig Lindsay concluded: “With drilling now underway, remaining core assays to come, and project wide exploration continuing, we are positioned for strong and sustained newsflow as we advance Golden Gate.”
His comments reflect the Company’s confidence that the months ahead will deliver significant milestones, reinforcing RML’s status as one of the ASX’s most active and rapidly growing gold explorers in 2025.
Investor’s Outlook
Resolution Minerals enters the final quarter of 2025 with strong momentum across operations, markets, and exploration activity. The Company’s disciplined exploration strategy, commitment to shareholder value, and focus on high-impact gold targets have generated a wave of investor enthusiasm.
Upcoming catalysts expected to drive further interest include:
- Progressive results from the ongoing RC drill program.
- Receipt of remaining Phase 1 core assays.
- Advancement of the 50-hole drill program permitting process.
- Broader exploration updates from the Horse Heaven Project.
With robust gold prices, solid funding, and expanding discovery potential, Resolution Minerals is well-positioned to capitalise on the current gold cycle and deliver sustained growth for its shareholders.
