Resolution Minerals Limited has entered into a binding agreement to acquire the Horse Heaven Project in Idaho, USA – a highly-prospective brownfields Antimony-Gold-Tungsten asset located in the historic Stibnite Mining District. The Horse Heaven Project sits adjacent to the US$1.3 billion Stibnite Gold-Antimony Project owned by Perpetua Resources Corp, and gives Resolution Minerals a foothold in one of America’s most strategic mineral districts.
The Horse Heaven Project includes two drill-ready mineralized corridors, known as Antimony Ridge and the Golden Gate Fault Zone. Each of these areas has extensive historical exploration activity, significant intercepts of antimony, gold, silver, and tungsten, as well as historical production of critical minerals and legacy gold estimates.
Resolution Minerals will acquire the Project via the acquisition of the existing holding company. The consideration will include payment of $1 million in cash and the issue of 444,812,889 fully paid ordinary RML shares (as well as 222,406,445 options exercisable at $0.018 each on or before 31 July 2028). The acquisition is supported by a $1.9 million capital raising led by Oakley Capital Partners Pty Ltd, who also advised on the transaction.
RML’s Executive Director, Aharon Zaetz commented: “The Board considers that the acquisition of the Horse Heaven Project has the potential to be a transformative event for RML. As many governments around the world look to onshore their supply of critical minerals, such as antimony and tungsten, we have secured a commanding ground position with known antimony occurrences and next to what is likely to become the largest antimony producer in the USA.
RML’s entry into US critical minerals comes at a terrific time, with the market attributing huge premiums to ASX-listed companies operating in the space over the last 8 weeks, such as Dateline Resources (DTR), Trigg Minerals (TMG) and Locksley Resources (LKY) which have all seen significant re-ratings in recent weeks, thanks to the supportive pro-mining policies of new President Donald Trump.”
The Project’s Golden Gate Hill prospect has previously returned historical drill intersections that include:
- Rock chip sample 329003 with 3.68 g/t gold, 303 g/t silver and 2.72% antimony over 4 m.
- Rock chip sample 329014 with 1.33 g/t gold, 367 g/t silver and 13.75% antimony over 1 m.
- Rock chip sample 329015 with 4.65 g/t gold, 70.5 g/t silver and 19.15% antimony over 1 m.
- Rock chip sample 329085 with 3.21 g/t gold, 178 g/t silver and 0.37% antimony over 3 m.
- Rock chip sample 329089 with 5.99 g/t gold, 246 g/t silver and 0.71% antimony over 1 m.
Highlights for past drilling results at Horse Heaven include drill intersections of:
- Drill hole 87-GGR-31: 85.34 m @ 0.937 g/t Au (true width unknown), including 38.10 m @ 1.459 g/t Au.
- Drill hole 86-GGR-10: 105.16 m @ 0.787 g/t Au (true width unknown); including 51.82 m @ 0.990 g/t Au.
- Drill hole 86-GGR-01: 30.48 m @ 1.354 g/t Au (true width unknown).
A 6,000 m drill program is planned to commence in 2025 to test high-priority targets at both Golden Gate and Antimony Ridge, which is backed by a robust Intrusion Related Gold System (IRGS) model.