Resolution Minerals Ltd (ASX: RML; OTCQB: RLMLF) (“Resolution” or the “Company”) announced that two MP1500 diamond core drill rigs are arriving on-site at its Horse Heaven Antimony-Tungsten-Gold-Silver Project in Idaho, USA.
The Phase 2 drill program will span up to 13,700 metres (45,000 feet) across up to 45 holes, targeting both gold and tungsten mineralisation at the Golden Gate area of the Project.
The first rig is expected to arrive on-site within days of the announcement. The second rig follows in mid-May. Initial drilling is scheduled to start late next week from the date of the announcement.
Golden Gate sits directly adjacent to Perpetua Resources’ Stibnite Gold Project, which carries a market capitalisation of C$4.8 billion (PPTA.NAS). The proximity to a major permitted operation reflects the established geology and infrastructure of the region.
Why the Phase 2 Program Matters
The Phase 1 campaign, completed in 2025, drilled 3,780 metres across 14 holes. Every single hole intersected gold mineralisation from surface.
The best results from Phase 1 include:
- 253.0m @ 1.50 g/t gold (HH-GG25-003C)
- 197.5m @ 1.26 g/t gold (HH-GG25-001C)
- 265.2m @ 0.60 g/t gold (HH-GG25-002C)
- 240.8m @ 0.64 g/t gold (HH-GG25-004C)
Gold mineralisation across all Phase 1 holes remains open at depth, along strike, and laterally. That means the system has not yet been fully defined — the drills kept hitting gold, but the program ended before the edges of the deposit were reached.
Phase 2 aims to determine where this deposit actually ends — and whether it connects to a second, newly confirmed zone to the south.
Figure 1: Resolution’s Horse Heaven Antimony-Tungsten-Gold-Silver Project showing the relationship of Antimony Ridge (Sb) with Golden Gate (Au) and Golden Gate Tungsten (W). [Resolution Minerals Ltd]
Two Targets: Golden Gate North and Golden Gate South
The Phase 2 program will focus on two separate targets within the Golden Gate area.
Golden Gate North
This is the core of Phase 1 success. Drilling will combine infill holes and step-out holes to push the known gold footprint further.
A previous result from Golden Gate North — hole HH-GG25-001C — returned 189.2m @ 1.30 g/t Au from 34.1m, ending in mineralisation. This means the gold continued to the end of the hole without a defined boundary.
Golden Gate South
Golden Gate South is a newer discovery. The discovery drill hole — HH-GG25-013R — returned 99.1m @ 0.38 g/t Au from surface to end of hole. Like many Phase 1 holes, it ended before the mineralisation did.
A large coincident gold and tungsten soil anomaly has been identified west of this hole, covering an area of approximately 500 metres by 600 metres.
Figure 2: Proposed drilling at Golden Gate North and South for the 2026 Phase 2 program. [Resolution Minerals Ltd]
Tungsten: A Second Critical Mineral in the Crosshairs
The program is not just about gold. The Company is also targeting tungsten mineralization, a critical mineral used in military hardware, industrial tooling, and advanced electronics.
Tungsten was previously mined at the Golden Gate Tungsten Mine. The most recent mining took place in 1980. Composite samples from stockpiles stored at the Johnson Creek Mill site assayed 1.85% WO₃, a high-grade tungsten result.
WO₃, or tungsten trioxide, is the standard measurement for tungsten content in ore. Grades above 0.10% are generally considered economically interesting; 1.85% in stockpile material is substantially higher than that threshold.
In the 2025 drilling program, hole HH-GG25-012R returned 21m @ 0.06% W, including 8m @ 0.14% W. Phase 2 will follow up on these intersections and test the full extent of the tungsten anomaly at Golden Gate South.
Site Access and Infrastructure Re-Established
Ahead of drilling, the Company re-established full site access and operational infrastructure. This included:
- Camp facilities for the drill crew
- Installation of a state-of-the-art water filtration system
- Delivery of drilling supplies to site
- Arrival of the technical support team
Johnson Creek Road — the main access road to the site — is also undergoing roadwork. Perpetua Resources (PPTA.NAS) is improving the road for heavy loads destined for its adjacent Stibnite Gold Project, which benefits Resolution at no cost.
Figure 3: Access roadworks to Resolution’s Horse Heaven Antimony-Tungsten-Gold-Silver Project. [Resolution Minerals Ltd]
CEO of US Operations Speaks on the Program
Craig Lindsay, Resolution’s CEO of US Operations, said:
“Resolution is now underway on an exciting and extensive 2026 drill program at Golden Gate for gold and tungsten. Camp and drill crew setup is ongoing as we mobilise drill rigs onto site with water and fuel support together with our experienced technical team.”
Lindsay joined Resolution as CEO of US Operations in 2025 and brings over 30 years of experience in natural resources and corporate development. He has previously worked on projects later acquired by NYSE and TSX-listed mining companies.
Regulatory Momentum: Antimony Ridge Selected for US Fast-Track Permitting
On 8th April 2026, the US Permitting Council selected Antimony Ridge — another zone within the Horse Heaven Project — for FAST-41 Transparency Coverage.
FAST-41 is a US federal framework that provides a structured, time-limited permitting process for infrastructure and resources projects of national significance. Selection for coverage signals that US federal authorities view the Project as strategically relevant.
The US has no active primary production of antimony. Over 80% of its antimony supply currently comes from China. Horse Heaven’s position in Idaho — inside the US border, on permitted land — has attracted attention from federal bodies and strategic investors.
Milestone Target: Maiden Resource Estimate Targeted for Q1 2027
The Phase 2 drill program is designed to generate sufficient data to support a maiden Mineral Resource Estimate (MRE) at Golden Gate, targeted for Q1 2027, subject to successful drilling outcomes.
A Mineral Resource Estimate, an independently verified calculation of how much ore a deposit contains, is one of the most important early milestones for any mining project. It gives investors and potential partners a formal view of the scale and grade of the deposit.
If Phase 2 drilling continues to intersect gold and tungsten mineralisation as widely as Phase 1 did, the Company’s case for a significant MRE strengthens.
Resolution has also previously received an unsolicited, non-binding indicative offer of A$225 million for the Horse Heaven Project from NASDAQ-listed Snow Lake Resources Ltd — reflecting the interest the Project has generated since 2025.
Gold and Tungsten: Market Demand Is Running Strong
The timing of this drill campaign sits against a backdrop of elevated commodity prices and surging demand for defence-critical minerals.
Gold is currently trading above USD 4,000 per ounce. Prices have risen sharply over the past 12 months, driven by geopolitical tension, central bank buying, and inflation hedging globally.
Tungsten faces similar structural demand pressures. The global tungsten market was valued at USD 1.86 billion in 2024 and is forecast to reach USD 2.84 billion by 2033, growing at a CAGR of 4.7%.
Figure 4: Tungsten Market Size [Grand View Research]
Tungsten is classed as a critical mineral by the US, the EU, and Australia. Like antimony, China dominates global production. Projects in the US are attracting strong attention from policymakers and strategic investors alike.
For Resolution, a project that hosts both gold and tungsten — in a single mining jurisdiction inside the US — carries a dual appeal that few ASX-listed explorers can claim.
Investors’ Outlook
Resolution Minerals enters May 2026 with two drill rigs operational, a large exploration corridor to test, and an ambitious maiden MRE timeline in view.
The Company holds dual-market exposure through its ASX listing and OTCQB listing in the United States — a deliberate move to access North American capital as the Horse Heaven Project advances.
The share price data below is sourced from third-party providers. Readers should verify current pricing directly on the ASX website before making any investment decision.
| Metric | Data |
| Last Price | A$0.066 per share |
| 52-Week Range | A$0.007 to A$0.150 per share |
| Market Cap | A$144.72 million |
| 1 Year | +900% (approx.) |
| vs ASX 200 (1yr) | Outperforming |
Key Catalysts to Watch
- Phase 2 drilling results — initial assays expected from mid-2026
- Step-out results from Golden Gate South — expanding a brand-new discovery
- Tungsten intersection results from the Golden Gate Tungsten Mine area
- Maiden MRE — targeted Q1 2027, subject to successful outcomes
- Antimony Ridge FAST-41 permitting progress
- US listing pathway — OTC (OTCQB: RLMLF) already active, NASDAQ dual-listing previously flagged
Disclaimer
This article is for informational purposes only and is based on publicly available announcements issued by Resolution Minerals Ltd (ASX: RML). It does not constitute financial, investment, or legal advice, nor is it a recommendation to buy or sell any securities. Readers should conduct their own research and seek independent professional advice before making any investment decisions. Forward-looking statements involve risks and uncertainties, and actual outcomes may differ materially from expectations.
Last modified: April 30, 2026
