Resolution Minerals Ltd (ASX: RML; OTCQB: RLMLF or the Company) has announced a significant near-surface gold discovery at its wholly-owned Horse Heaven Gold-Antimony-Tungsten-Silver Project in Idaho, USA. The Company’s first drill hole returned exceptional results of 189.2 metres at 1.30 g/t gold from 34.1 metres, ending in mineralisation.
The hole, designated HH-GG25-001C, tested unoxidised mineralisation at the Golden Gate Prospect for the first time. Resolution Minerals considers this a “discovery hole” of a possible intrusive-hosted gold system deposit at Golden Gate.
Figure 1: Horse Heaven Project location map
Discovery Hole Delivers Multiple High-Grade Zones
Assay results from the first 223.4 metres of HH-GG25-001C reveal near-surface gold mineralisation beginning close to surface and continuing throughout the drilled interval. The hole was drilled to a total depth of 231.6 metres, with final assays for the remaining 8.3 metres pending.
Key intercepts include:
- 189.2m @ 1.30 g/t Au from 34.1m to 223.4m, ending in mineralisation
- Including 12.9m @ 2.32 g/t Au from 94.4m
- Including 29.6m @ 2.71 g/t Au from 131.8m
- Including 70.8m @ 2.24 g/t Au from 128.8m
Gold mineralisation is hosted in altered quartz-sericite to silicified monzonite, quartz-monzonite and granodiorite. The mineralisation is closely associated with pyrite, arsenian pyrite and arsenopyrite, described as occurring throughout the hole.
From surface to 90.5 metres, the drill hole intersected oxidised fault gouge and cemented breccia with gold grades of 0.21 g/t Au over 90.5 metres. Below the oxidation boundary and fault system, higher gold grades of 1.74 g/t Au were intersected over 132.9 metres from 90.5m to 223.4m.
Figure 2: Drill hole location map of the Phase 1 Golden Gate drill program
Tungsten Mineralisation Supports Multi-Commodity Potential
Elevated tungsten was recorded in HH-GG25-001C at a downhole depth between 120ft and 125ft (36.5m and 38.0m), with sample 190518 containing 0.315% W. The drill hole passed through historical mine workings from 100ft to 112ft (30.5m to 34.1m), dating from scheelite mining operations. The void prevented sampling of in situ tungsten mineralisation in this interval.
Visible scheelite (tungsten indicator mineral) was also logged in subsequent holes HH-GG25-002C and HH-GG25-003C at multiple intervals, supporting the multi-commodity potential of the system.
Strategic Context: Comparison to A$4 Billion Stibnite Mine
The discovery gains significance from Horse Heaven’s location just 6 kilometres from Perpetua Resources’ Stibnite Gold Project, which carries a market capitalisation of approximately A$4 billion. The average gold grade for Stibnite’s Proven and Probable Reserves is 1.43 g/t Au. Resolution’s discovery hole grade of 1.30 g/t Au compares favourably, particularly as the mineralisation remains open to the north, south and at depth.
Craig Lindsay, Resolution’s CEO of U.S. Operations, commented: “Delivering a discovery intercept of 189m of continuous gold from just 34m depth and finishing in mineralisation in our very first hole is a tremendous result. What excites us most is that we’ve confirmed a large intrusive-related gold system, the same style of system that hosts major deposits regionally, including Stibnite, only 6km away.”
Intrusive Related Gold System Validated
The pervasive gold mineralisation with pyrite, arsenian pyrite and arsenopyrite in altered monzonite and granodiorite confirms the Intrusion Related Gold Systems (IRGS) exploration model for Horse Heaven.
IRGS deposits can form large to supergiant resources. Examples globally include Fort Knox (>12Moz), Pogo (>10Moz), Donlin Creek (39Moz) in the U.S., and The Granites (>20Moz), Telfer (>15Moz), and Hemi (11Moz) in Australia.
Golden Gate shares key characteristics with Stibnite:
- Localised by northerly fault systems
- Hosted by felsic intrusive rocks of the Idaho batholith
- Associated with fine-grained sulphides
- Sericite alteration and biotite replacement
- Quartz-pyrite-arsenopyrite veining
Figure 3: Schematic IRGS cross section showing the relative positions of the Stibnite Mining District Hanger Flats and Yellow Pipe deposits (Right half) and the Antimony Ridge and Golden Gate prospects (Left half).
Austin Zinsser, Resolution’s Lead Geologist, stated: “The results of our very first drill hole at Horse Heaven are beyond our expectations. I have worked in the Perpetua-Horse Heaven region for nearly 20 years, and these are some of the best drilling results I have seen to date. Pervasive gold mineralisation at strong grades over a downhole interval of nearly 200m is an exceptional result.”
Phase 1 Drilling Program Complete
Resolution completed its maiden Phase 1 drill program at Golden Gate with a total of 10 diamond core holes for 2,770.6 metres. The program tested just a small portion of the Golden Gate target area.
The holes were drilled by Evolve Exploration Ltd using a Multipower MP500 modular core rig, providing HQ3 diamond drill core. The average drill hole depth is 277.1 metres.
Figure 4: Completed and current drill holes as of today
HH-GG25-001C and HH-GG25-002C are fanned holes drilled from the same platform in different directions.
Multiple Near-Term Catalysts
Imminent results:
- Remainder of HH-GG25-001C (final 8.3 metres)
- Complete results from HH-GG25-002C
- Complete results from HH-GG25-003C
Coming months:
- Sequential assay batch results from HH-GG25-004C to HH-GG25-010C through December 2025
Identical sulphides have been logged in HH-GG25-002C and HH-GG25-003C, with assays pending.
Aggressive Follow-Up Program Planned
At Golden Gate: Resolution is applying for a large 50-hole drill permit to follow up on discovery. The permit will enable systematic testing of extensions in all directions.
At Antimony Ridge:
- Drill permit application for a large program to test deep extensions of extensive shallow antimony mineralisation
- Man-portable drill rig trial completed, results pending
- Collection of representative stibnite-silica vein samples for metallurgical test work and mineralisation characterisation studies
Project-Wide: Stream sediment program nearing completion across the project area, with results to be released upon assessment.
U.S. Critical Minerals Strategic Asset
Horse Heaven is strategically located in Valley County, Idaho, in an established mining jurisdiction. The project comprises 699 U.S. Federal lode mining claims covering 5,644 hectares.
The project hosts gold, antimony, tungsten and silver, all classified as critical minerals by the U.S. Government. Notably, the U.S. has no current primary production of antimony, with supply chains for both antimony and tungsten critically exposed to foreign control.
The Company is actively engaging with U.S. government bodies and stakeholders to explore grant funding and strategic partnership opportunities. Horse Heaven supplied antimony and tungsten to the U.S. Government during World War I, World War II and the Korean War.
Infrastructure advantages include:
- Year-round accessibility
- Located 8 km from a major U.S. highway
- Trucking distance to several processing facilities
- Proximity to Perpetua’s planned infrastructure upgrades (new access road and high-voltage power line)
Gold Market Overview
The gold market is influenced by various factors, with central bank buying being a key driver. Central banks purchase gold to diversify their reserves, hedge against currency risks, and signal confidence to investors. Their sustained buying creates a strong demand floor, which supports and often raises gold prices. This demand acts as a buffer during market volatility, helping gold maintain price resilience. Currently, central banks represent about 15-20% of annual gold demand, significantly impacting the market.
Looking ahead, future demand for gold is expected to remain robust, driven by ongoing geopolitical uncertainties, inflation concerns, and the desire for safe-haven assets. Forecasts indicate gold prices could rise to around $4,000 per ounce by mid-2026 as investor and central bank interest continues to grow, signalling a bullish outlook for the metal’s medium-term future. Overall, gold’s role as a strategic reserve asset and investment hedge underpins its strong demand prospects going forward.
Investor Outlook
Resolution Minerals’ share was traded at A$0.080, with a market capitalisation of A$143.85 million in the last session. The stock has moved between A$0.007 and A$0.150 over the past 52 weeks. RML has demonstrated strong market momentum in 2025.
Figure 5: Resolution Minerals share price
The maiden drill hole validates Resolution’s exploration strategy and confirms large-system potential at Horse Heaven. With mineralisation open in all directions, multiple pending assay results, and an aggressive follow-up program planned, the Company is building strong momentum in its U.S. critical minerals strategy.
Lindsay concluded: “With assays pending from the remaining Golden Gate holes, several of which show the same style of mineralisation, we are building strong momentum. Golden Gate is only one of the multiple standout targets at Horse Heaven, and we believe this discovery is the first step in unlocking the broader district-scale potential of this Project.”
The discovery positions Resolution as a serious player in the North American critical minerals space, with exposure to four U.S.-designated critical minerals and a geological setting analogous to one of the region’s premier gold-antimony deposits.
