First Drill Rig Commenced at Golden Gate on Tungsten & Gold Targets Encouraging Gold Metallurgy Results with High Recoveries
May 15, 2026 (Source) — HIGHLIGHTS
- First Drill Rig Commenced Diamond Core Drilling: An MP1500 diamond core drill rig commenced drilling at Golden Gate, targeting tungsten and gold mineralisation, and is currently in the first hole, as part of a large 2026 drill program of up to 13,700 metres (45,000 ft), across up to 45 holes.
- Aim to Define Scale of Gold & Tungsten Mineralisation: Program is designed to define the scale and extent of gold mineralisation at Golden Gate and Golden Gate South. Drilling is also targeted to identify the extent of tungsten mineralisation around previous mine workings and explore a broad tungsten anomaly.
- High Recoveries in Initial Gold Metallurgy Test Work: High gold recoveries have been returned from initial test work conducted on leaching gold-bearing oxide samples (94-95% recovery) and floating gold-bearing sulphide samples (86-88% recovery) from Golden Gate composite drill core samples. IMO Labs in Perth, Australia, conducted the test work with further work underway to optimise the process.
- Site Visit by Board Members and Investors: A site visit of Resolution’s Horse Heaven Antimony-Tungsten-Gold-Silver Project in Idaho, USA, was undertaken by the RML Board and major investors, and witnessed the first hole being drilled this season.
Resolution Minerals Ltd (ASX: RML; OTCQB: RLMLF) (“Resolution” or the “Company”) is pleased to report that an MP1500 diamond core drill rig commenced drilling at Golden Gate, targeting tungsten and gold mineralisation, and is currently in the first hole. This marks the start of the large 2026 Golden Gate Drill Program, of up to 13,700 metres(45,000 ft) of diamond core drilling, across up to 45 holes, targeting tungsten and gold mineralisation at Golden Gate.Golden Gate islocated within Resolution’s Horse Heaven Antimony-Tungsten-Gold-Silver Project in Idaho, USA, and immediately adjacent to Perpetua Resources’ Stibnite Gold Project, a large, recently permitted Antimony-Gold project.
Gold Mineralisation – Scale: The program will focus on the Golden Gate North and Golden Gate South targets to expand known gold mineralisation and test extensions of the system, following up past positive results, including hole HH-GG25-001C, which returned 189.2m @ 1.30 g/t Au from 34.1m to 223.4m,
ending in mineralisation (ASX announcement 28 October 2025).
Tungsten Mineralisation: Tungsten was previously mined at the Golden Gate, most recently in 1980, where composite samples from stockpiles, stored at the Johnson Creek mill site, assayed 1.85% WO31. (ASX announcement 18 March 2026). Drilling is targeted to identify extensions of tungsten mineralisation around the previous mine workings at Golden Gate and at Golden Gate South, a large 500m x 600m target will be drilled which hosts a coincident gold and tungsten soil anomaly (ASX announcement 11 June 2025 – Figure 9).
High Recoveries in Initial Gold Metallurgy Test Work: High gold recoveries have been returned from initial test work conducted on gold-bearing composite drill core samples from Golden Gate by IMO Labs in Perth.
Gold-bearing oxide samples with a composite feed grade of 0.55g/t Au were subjected to direct leaching (via cyanidation) which resulted in 94.2% and 95.5% extraction (recoveries) at grind sizes of 150um and 75um respectively after 24 hours of leaching. After 48 hours of leaching, the residues contained 0.04g/t -indicating total recoveries between 92.7% – 93.8%. Further test work is underway on reagent optimisation.
Gold-bearing sulphide samples with a composite feed grade of 1.91g/t Au were subjected to rougher flotation at grind sizes of 106um, which resulted in 86.4% recoveries and produced a grade of 49g/t Au. Decreasing the grind size to 75um resulted in 88.7% recoveries, however the grade decreased to 26.4g/t Au. Further test work is underway on reagent optimisation followed by rougher/regrind/cleaner test work.
Site Visit by Board Members and Investors: A site visit of Resolution’s Horse Heaven Antimony-TungstenGold-Silver Project in Idaho, USA, was undertaken by the RML Board and major investors, and witnessed the first hole being drilled this season (see Figure 1, 2).
Detailed Analysis of Test Work:
Two Golden Gate composite samples were prepared from two 2025 Golden Gate drillholes as presented in Table 1. Composite 3 (63.9kg) was considered to represent sulphide material below the supergene zone that had not been exposed to significant weathering. Composite 4 (21.4kg) is closer to surface in the supergene/weathered zone and it was expected that this material had been subject to significant weathering. The two Golden Gate drillholes previously returned assay results of: HH-GG25-002C: 265.2m @ 0.60g/t Au from surface (open at depth) and HH-GG25-003C: 253.0m @1.50g/t Au from surface (open at depth) (ASX announcements; 3 November 2025 and 17 February 2026).
Mineralogy
Qualitative mineralogy was undertaken on both composites by Diamantina Laboratories (Perth, Australia) utilising optical microscopy, scanning electron microscopy (SEM) and X-ray diffraction (XRD). These results provide the basis for the initial mineral processing flowsheet selection for each composite.
The results indicate that the sulphide sample (Composite 3) is ~90% quartz and >5% Mica, often sericitic. The fresh sulphides, essentially pyrite and arsenopyrite commonly as euhedra to 0.5mm, represented approximately 0.5%. Discrete sulphides were detected (bournotite, boulangerite and stibnite), scheelite was a trace. No gold was detected by optical or SEM scans. Diamantina concluded that the gold was present in solid solution and likewise in arsenopyrite.
The results indicate that the oxide sample (Composite 4) is predominantly quartz with <10% sericitic mica and possible kaolin. SEM detected goethite, jarosite, scheelite, monazite, pyrite and inclusions of Sb-Fe oxides in the silicates. No gold was detected by optical or SEM scans.
Gold Sulphides (Composite 3)
The gold sulphide feed grade assayed at 1.91 g/t Au.
Initial rougher flotation tests (FT01, FT02), varying reagents at 106 µm, yielded a maximum combined gold grade of 49.0 g/t Au at 86.4% recovery. In the latest tests (FT03, FT04), increasing the grind size to 150 µm decreased the combined gold grade to 47.7 g/t Au and the recovery to 84.5%, suggesting marginally reduced liberation of gold-bearing sulphide minerals from gangue compared to that achieved at 106 µm. Decreasing the grind size to 75 µm decreased the combined gold grade to 26.4 g/t Au but increased recovery to 88.7% which IMO has concluded is due to improved gold-bearing sulphide mineral liberation. The reduction in gold grade was largely due to increased silica recovery from 2.1% at 106 µm to 4.8% at 75 µm which IMO has concluded is most likely from froth entrainment.
The results are summarised in Table 2 and indicate that 106 µm yields the highest gold grade and recovery with 75 µm yielding the best overall gold recovery.
The next stage of test work will involve reagent optimisation tests aimed at increasing both gold grade and gold recovery. We also recommend including rougher / regrind / cleaner test work to determine the optimum concentrate grade and recovery achievable. More detailed descriptions of the flotation tests’ results are given below.
Gold Oxides (Composite 4)
The gold oxide grind optimisation leach test results on Comp 4 with a calculated head grade of 0.55 to 0.56 g/t, showed that testing grind sizes of 150 and 75 μm resulted in similar 24-hour gold recoveries of 94.2% and 95.5% respectively.
The 106 µm gold recovery at 24 hours was 88.7% which IMO has concluded is due to experimental limitations. Also, at both the 150 and 75 µm grind sizes, the gold recoveries decreased from 24 to 48 hours, again due to experimental limitations. IMO has indicated that this phenomenon has often been observed with other ores which have low gold solution concentrations.
The 48-hour residue grades for all tests were 0.04 g/t with Au recoveries ranging from 92.7% to 93.8%.
These grind size optimisation tests indicated the optimum oxide gold grind size is 150 μm or finer with results presented in Table 3. The final selected grind size will be 106 µm as determined by sulphide gold flotation test work. Reagent optimisation test work is now underway.
For further information, please contact:
| Aharon Zaetz Executive Director Resolution Minerals Ltd M: +61 424 743 098 [email protected] | Jane Morgan Investor Relations Jane Morgan Management M: +61 405 555 618 [email protected] |
Forward Looking Statements
This announcement may contain forward-looking statements. These statements relate to the Company’s expectations, beliefs, intentions or strategies regarding the future. These statements can be identified by the use of words like “anticipate”, “believe”, “intend”, “estimate”, “expect”, “may”, “plan”, “project”, “will”, “should”, “seek” and similar words or expressions containing same. These forward-looking statements reflect the Company’s views and assumptions with respect to future events as of the date of this release and are subject to a variety of unpredictable risks, uncertainties, and other unknowns. Actual and future results and trends could differ materially from those set forth in such statements due to various factors, many of which are beyond our ability to control or predict. These include, but are not limited to, risks or uncertainties associated with the acquisition and divestment of projects, joint venture and other contractual risks, metal prices, exploration, development and operating risks, competition, production risks, sovereign risks, regulatory risks including environmental regulation and liability and potential title disputes, availability and terms of capital and general economic and business conditions.
Given these uncertainties, no one should place undue reliance on any forward-looking statements attributable to the Company, or any of its affiliates or persons acting on its behalf. Subject to any continuing obligations under applicable law, the Company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements in this announcement to reflect any change in expectations in relation to any forward-looking statements or any change in events, conditions or circumstances on which any such statement is based.
Competent Person’s Statement
The information in this report that relates to exploration results relating to metallurgy, is based on and fairly represents information reviewed and compiled by Dr Adam Roper PhD, M AusIMM, Metallurgist, who is a Member of the Australasian Institute of Mining and Metallurgy. Dr Roper has sufficient experience, which is relevant to the exploration activities, metallurgy and types of deposits under consideration, and to the activity which has been undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Dr Roper is a full-time employee of Resolutions Minerals Limited and consents to the inclusion in this announcement of the matters based on their information in the form and context in which it appears.
The Company confirms it is not aware of any new information or data that materially affects the information cross referenced in this announcement and further to “Agreement to Acquire Major US Antimony Project and Placement” on 11 June 2025, “Exceptional Rock Chip and Soil Results from Antimony Ridge” on 15 September 2025, “Exceptional Rock Chip and Soil Results Update” on 24 September 2025, “Significant Gold Discovery at Horse Heaven Project” on 28 October 2025, “Significant Gold Discoveries Continue at Golden Gate” on 3 November 2025, “Golden Gate Discovery Grows with Multiple Gold Intercepts” on 2 December 2025, “Further Ultra High Grade Antimony and Silver Results” on 14 January 2026, “New Gold Discovery at Golden Gate South” on 9 February 2026, “Gold & Significant Tungsten Mineralisation in Drilling” on 17 February 2026, “Exceptional Tungsten Grade Identified in Stockpile Material” on 26 March 2026, “Antimony Ridge Model Shows Extensive Vein Swarms” on 10 April 2026, “Antimony Trioxide Produced from Antimony Ridge“ on 14 April 2026 and “Tungsten Concentrates Produced from Golden Gate“ on 28 April 2026. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original announcements.
The 2,000 tonne tungsten stockpile is comprised of 1,814 tons of tungsten with an average grade of 1.5% WO3 and 227 tons of tungsten having an average grade of 2.03% WO3. Further sampling and test work are planned to assess the stockpile material in accordance with the JORC Code. The estimate is both a Historical Estimate and a Foreign Estimate and is not reported in accordance with the JORC (2012) Code. A Competent Person has not done sufficient work to classify the Historical Estimate and the Foreign Estimate as a mineral resource or mineral reserve in accordance with the JORC (2012) Code. It is uncertain that following evaluation and/or further exploration work (as described above) that the Historical Estimate and the Foreign Estimate will be able to be reported as a mineral resource or mineral reserve in accordance with the JORC (2012) Code.
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