RML to drill Horse Heaven
Drilling to commence in August
The phase 1 program will include 20 holes with a focus on the Golden Gate target
A phase 2 campaign is also planned
Special report: Drilling at Resolution Minerals' Horse Heaven asset in Idaho's historical Stibnite mining district is set to start in August after approval was granted by the US Forest Service.
The service approved the company's proposed Plan of Operations, comprising 57 holes from 19 drill sites along an existing road network in Valley County.
An initial phase 1 campaign, targeting up to 20 drill holes and totalling 20,000 feet (6.096km) at the Golden Gate target area, is expected to begin next month.
The Golden Gate fault zone has a strike length of ~3.5km and hosts known disseminated gold mineralisation associated with hydrothermally altered and sheared granodiorite.
Several past drilling programs targeted shallow oxide gold, returning hits such as 36.6m at 1.51g/t gold and 71.6m at 1.37g/t but overlooked antimony and tungsten.
Resolution Minerals (ASX:RML) plans to confirm the presence of a gold resource, expand known mineralisation and potentially identify the presence of tungsten and antimony.
First drilling in over 30 years
RML CEO of US operations Craig Lindsay said receipt of this approval allowed for the first new drilling at the project in more than 30 years.
'Resolution Minerals is very excited to begin aggressively advancing Horse Heaven,' he said.
'Historically, the Golden Gate area has produced tungsten from both open pits and underground adits, and an antimony anomaly has been identified that runs parallel to the Golden Fault Zone.
'We are excited about the prospect of the Horse Heaven project and its potential to play an important role in meeting the United States' growing demand for a domestic supply of critical metals.'
Background on Horse Heaven
The brownfields project was acquired by RML in June.
Horse Heaven shares a boundary with A$2bn market cap Perpetua Resources (PPTA.NAS) and its Stibnite gold-antimony project which hosts a 4.8Moz gold reserve and 148Mlb of antimony.
It boasts strong gold, antimony and silver mineralisation in two prospects – the Antimony Ridge Fault Zone (ARFZ) and the Golden Gate Fault Zone (GGFZ) – and includes past-producing antimony and tungsten mines.
RML's entry into US critical minerals development comes at a terrific time, with the market attributing premiums to companies operating in the space thanks to the supportive pro-mining policies of new President Donald Trump.
The regulatory shift has seen ASX-listed US explorers race to prominence, with Dateline Resources (ASX:DTR) running from a market cap of less than $10m to more than $300m in the past two months thanks to its Colosseum gold and rare earths project in California. Other ASX listed companies with US critical minerals assets such as Trigg Minerals (ASX:TMG) and Locksley Resources (ASX:LKY) have also experienced significant re-rates on the back of the Trump Government's 'drill, baby, drill agenda, and China's export bans.
What's next?
Vendors of Horse Heaven have exercised an option and completed acquisition of 100% of the issued share capital of the company holding the Horse Heaven asset.
The acquisition remains subject to only two remaining conditions precedent - the completion of due diligence by RML on the Horse Heaven project, as well as shareholder approval which is being sought at a general meeting on July 25.
Depending on the results from the first phase, a phase 2 drilling campaign is planned for the Spring/Summer of 2026.
RML is finalising agreements with a drilling contractor and other service providers.
It is also initiating a mapping and sampling program at Golden Gate, Antimony Ridge and other emerging exploration targets to assist with planning and permitting activities for future planned drilling.
This article was developed in collaboration with Resolution Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Originally published as Resolution Minerals gets green light for Horse Heaven antimony-gold-tungsten drilling
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News.com.au
3 hours ago
- News.com.au
Aussie buyers shrug off interest rate fears
Interest rates are no longer the biggest factor holding buyers back, with a new national survey showing nearly half of Australians who bought or sold in the past year weren't influenced by rates at all. The 2025 State of Real Estate report by proptech firm InfoTrack found only 29 per cent of respondents said rates had a significant or considerable impact on their decision — a sharp drop from 62 per cent in 2024. 'In last year's report, two-thirds cited interest rates as a major factor influencing their decision-making process. But in 2025, that number has dropped significantly,' InfoTrack's head of property Australia, Lee Bailie, said. 'The finding challenges the idea that interest rates are stopping people from buying or selling. Instead, Australians are staying active in the market but adapting to current conditions.' For those affected by rates, the biggest impacts were on budget (43 per cent) and the type of property they could afford (32 per cent). The move comes as the ASX traded at a 51 per cent expectation of a 0.5 percentage point cut to the official cash rate to 3.35 per cent when the Reserve Bank of Australia (RBA) meets Tuesday. It's a bolder prediction than any of Australia's big 4 banks, with CBA, NAB, Westpac and ANZ all sitting on a 0.25pp decrease. Bendigo Bank's chief economist David Robertson predicted quarterly cuts down to around 3-3.25 per cent by February 2026. 'A month of from the RBA surprising markets by keeping rates on hold, insisting they wanted more evidence of moderating inflation, we'e seen nothing but confirmation that inflation is at or below its target of 2.5 per cent, and that the risks of any rebound in underlying inflation have receded further,' Mr Robertson said. Brisbane property boom hits the skids InfoTrack's report shows affordability has now overtaken rates as the biggest hurdle, with 27 per cent of participants nominating property prices as their greatest obstacle, up six per cent from 2024 and the largest rise of any challenge. More than half (54 per cent) said prices had a significant or major impact on their decision, while 69 per cent said it determined where they bought. The report also found 59 per cent of buyers and sellers completed their transaction within three months, with regional areas proving especially popular with NSW buyers seeking affordability, space and flexibility through hybrid work.
News.com.au
6 hours ago
- News.com.au
Gold futures hit record on US tariff shock, stocks wobble
Gold futures hit a record high Friday after reports of an unexpected tariff on the precious metal, while stock markets fluctuated as investors tracked US President Donald Trump's latest moves. Oil prices added to losses from the previous day on news of a meeting between Trump and Russian leader Vladimir Putin, perhaps as early as next week, which raised hopes of a truce with Ukraine. Gold futures reached a new intraday high at $3,534.10 an ounce after the Financial Times reported that Washington had classified one-kilo bars, the most traded type of bullion on Comex -- the world's biggest futures market, as subject to "reciprocal" tariff rates. One-kilo bars make up the largest part of Switzerland's gold shipments to the United States. Imports from Switzerland face a 39-percent reciprocal tariff from Thursday. The FT said 100-ounce bars would also face the levy. The levy caused "shock and confusion" in markets, said Han Tan, chief market analyst at trading group. The gold future price pulled back to $3 an ounce. Spot gold prices sat around $3,400 an ounce. Saxo Bank analyst Ole Hansen said banks invest in gold futures to protect themselves from price swings in the physical bullion market. As tariffs threaten to raise prices for physical gold, these "short positions originally intended as hedges suddenly blow up", prompting banks to buy back futures and driving prices higher. Wall Street stocks pushed higher, a day after the tech-heavy Nasdaq finished at a fresh record. That kept the market on track for weekly gains near the finale of an earnings season that has generally topped expectations. With most major companies having already reported quarterly results, companies in the S&P 500 are on track for greater than eight-percent growth, compared with the 2.2 percent forecast just ahead of the reporting period, said a note from CFRA Research. CFRA's Sam Stovall said the results had reassured investors, who are "discounting the uncertainties and going along with the expectation that the economy is holding up better than people might be worrying about". In European trading, both London's FTSE 100 and Frankfurt dipped, while Paris stocks edged higher. Japanese stocks led the way on a mostly negative day for Asian markets, fuelled by relief that Tokyo and Washington had settled a tariff issue that raised concerns about their trade deal. "Since the tariff agreement between the US and the European Union, some clarity has emerged, but confusion around its implementation is just beginning to surface," said Jochen Stanzl, chief market analyst at CMC Markets. "In Japan, there is relief today upon hearing that the various tariffs will not be cumulative," he added. The Nikkei 225 stocks index jumped nearly two percent after Japan's tariffs envoy said Washington was expected to revise an executive order that stacked tariffs on top of each other. "However, it remains unclear whether the same rules apply for Japan and the EU," Stanzl added. - Key figures at around 1530 GMT - New York - Dow: UP 0.3 percent at 44,076.64 points New York - S&P 500: UP 0.6 percent at 6,378.57 New York - Nasdaq Composite: UP 0.8 percent at 21,408.81 London - FTSE 100: DOWN less than 0.1 percent at 9,095.73 (close) Paris - CAC 40: UP 0.4 percent at 7,743.00 (close) Frankfurt - DAX: DOWN 0.1 percent at 24,162.86 (close) Tokyo - Nikkei 225: UP 1.9 percent at 41,820.48 (close) Hong Kong - Hang Seng Index: DOWN 0.9 percent at 24,858.82 (close) Shanghai - Composite: DOWN 0.1 percent at 3,635.13 (close) Pound/dollar: UP at $1.3453 from $1.3445 on Thursday Euro/dollar: DOWN at $1.1664 from $1.1665 Dollar/yen: UP at 147.73 yen from 147.07 yen Euro/pound: DOWN at 86.73 pence from 86.76 pence
The Advertiser
7 hours ago
- The Advertiser
India pauses plans to buy US arms after Trump's tariffs
New Delhi has put on hold its plans to procure new US weapons and aircraft, according to three officials familiar with the matter, in India's first concrete sign of discontent after tariffs imposed on its exports by President Donald Trump dragged ties to their lowest level in decades. India had been planning to send Defence Minister Rajnath Singh to Washington in the coming weeks for an announcement on some of the purchases, but that trip has been cancelled, two of the people said. Trump, on August 6, imposed an additional 25 per cent tariff on Indian goods as punishment for Delhi's purchases of Russian oil, which he said meant the country was funding Russia's invasion of Ukraine. That raised the total duty on Indian exports to 50 per cent - among the highest of any US trading partner. The president has a history of rapidly reversing himself on tariffs and India has said it remains actively engaged in discussions with Washington. One of the officials said the defence purchases could go ahead once India had clarity on tariffs and the direction of bilateral ties, but "just not as soon as they were expected to". Written instructions had not been given to pause the purchases, another official said, indicating that Delhi had the option to quickly reverse course, though there was "no forward movement at least for now". Post publication of this story, India's government issued a statement it attributed to a Ministry of Defence source describing news reports of a pause in the talks as "false and fabricated." The statement also said procurement was progressing as per "extant procedures". Delhi, which has forged a close partnership with America in recent years, has said it is being unfairly targeted and that Washington and its European allies continue to trade with Moscow when it is in their interest. Reuters is reporting for the first time that discussions on India's purchases of Stryker combat vehicles made by General Dynamics Land Systems and Javelin anti-tank missiles developed by Raytheon and Lockheed Martin have been paused due to the tariffs. Trump and Indian Prime Minister Narendra Modi had in February announced plans to pursue procurement and joint production of those items. Singh had also been planning to announce the purchase of six Boeing P8I reconnaissance aircraft and support systems for the Indian Navy during his now-cancelled trip, two of the people said. Talks over procuring the aircraft in a proposed $US3.6 billion ($A5.5 billion) deal were at an advanced stage, according to the officials. Boeing, Lockheed Martin and General Dynamics referred queries to the Indian and US governments. Raytheon did not return a request for comment. India's deepening security relationship with the US, which is fuelled by their shared strategic rivalry with China, was heralded by many US analysts as one of the key areas of foreign-policy progress in the first Trump administration. Delhi is the world's second-largest arms importer and Russia has traditionally been its top supplier. India has in recent years, however, shifted to importing from Western powers like France, Israel and the US, according to the Stockholm International Peace Research Institute think-tank. The shift in suppliers was driven partly by constraints on Russia's ability to export arms, which it is utilising heavily in its invasion of Ukraine. Some Russian weapons have also performed poorly on the battlefield, according to Western analysts. The broader US-India defence partnership, which includes intelligence sharing and joint military exercises, continues without hiccups, one of the Indian officials said. India also remains open to scaling back oil imports from Russia and is open to making deals elsewhere, including the US, if it can get similar prices, according to two other Indian sources. Trump's threats and rising anti-US nationalism in India have "made it politically difficult for Modi to make the shift from Russia to the US," one of the officials said. New Delhi has put on hold its plans to procure new US weapons and aircraft, according to three officials familiar with the matter, in India's first concrete sign of discontent after tariffs imposed on its exports by President Donald Trump dragged ties to their lowest level in decades. India had been planning to send Defence Minister Rajnath Singh to Washington in the coming weeks for an announcement on some of the purchases, but that trip has been cancelled, two of the people said. Trump, on August 6, imposed an additional 25 per cent tariff on Indian goods as punishment for Delhi's purchases of Russian oil, which he said meant the country was funding Russia's invasion of Ukraine. That raised the total duty on Indian exports to 50 per cent - among the highest of any US trading partner. The president has a history of rapidly reversing himself on tariffs and India has said it remains actively engaged in discussions with Washington. One of the officials said the defence purchases could go ahead once India had clarity on tariffs and the direction of bilateral ties, but "just not as soon as they were expected to". Written instructions had not been given to pause the purchases, another official said, indicating that Delhi had the option to quickly reverse course, though there was "no forward movement at least for now". Post publication of this story, India's government issued a statement it attributed to a Ministry of Defence source describing news reports of a pause in the talks as "false and fabricated." The statement also said procurement was progressing as per "extant procedures". Delhi, which has forged a close partnership with America in recent years, has said it is being unfairly targeted and that Washington and its European allies continue to trade with Moscow when it is in their interest. Reuters is reporting for the first time that discussions on India's purchases of Stryker combat vehicles made by General Dynamics Land Systems and Javelin anti-tank missiles developed by Raytheon and Lockheed Martin have been paused due to the tariffs. Trump and Indian Prime Minister Narendra Modi had in February announced plans to pursue procurement and joint production of those items. Singh had also been planning to announce the purchase of six Boeing P8I reconnaissance aircraft and support systems for the Indian Navy during his now-cancelled trip, two of the people said. Talks over procuring the aircraft in a proposed $US3.6 billion ($A5.5 billion) deal were at an advanced stage, according to the officials. Boeing, Lockheed Martin and General Dynamics referred queries to the Indian and US governments. Raytheon did not return a request for comment. India's deepening security relationship with the US, which is fuelled by their shared strategic rivalry with China, was heralded by many US analysts as one of the key areas of foreign-policy progress in the first Trump administration. Delhi is the world's second-largest arms importer and Russia has traditionally been its top supplier. India has in recent years, however, shifted to importing from Western powers like France, Israel and the US, according to the Stockholm International Peace Research Institute think-tank. The shift in suppliers was driven partly by constraints on Russia's ability to export arms, which it is utilising heavily in its invasion of Ukraine. Some Russian weapons have also performed poorly on the battlefield, according to Western analysts. The broader US-India defence partnership, which includes intelligence sharing and joint military exercises, continues without hiccups, one of the Indian officials said. India also remains open to scaling back oil imports from Russia and is open to making deals elsewhere, including the US, if it can get similar prices, according to two other Indian sources. Trump's threats and rising anti-US nationalism in India have "made it politically difficult for Modi to make the shift from Russia to the US," one of the officials said. New Delhi has put on hold its plans to procure new US weapons and aircraft, according to three officials familiar with the matter, in India's first concrete sign of discontent after tariffs imposed on its exports by President Donald Trump dragged ties to their lowest level in decades. India had been planning to send Defence Minister Rajnath Singh to Washington in the coming weeks for an announcement on some of the purchases, but that trip has been cancelled, two of the people said. Trump, on August 6, imposed an additional 25 per cent tariff on Indian goods as punishment for Delhi's purchases of Russian oil, which he said meant the country was funding Russia's invasion of Ukraine. That raised the total duty on Indian exports to 50 per cent - among the highest of any US trading partner. The president has a history of rapidly reversing himself on tariffs and India has said it remains actively engaged in discussions with Washington. One of the officials said the defence purchases could go ahead once India had clarity on tariffs and the direction of bilateral ties, but "just not as soon as they were expected to". Written instructions had not been given to pause the purchases, another official said, indicating that Delhi had the option to quickly reverse course, though there was "no forward movement at least for now". Post publication of this story, India's government issued a statement it attributed to a Ministry of Defence source describing news reports of a pause in the talks as "false and fabricated." The statement also said procurement was progressing as per "extant procedures". Delhi, which has forged a close partnership with America in recent years, has said it is being unfairly targeted and that Washington and its European allies continue to trade with Moscow when it is in their interest. Reuters is reporting for the first time that discussions on India's purchases of Stryker combat vehicles made by General Dynamics Land Systems and Javelin anti-tank missiles developed by Raytheon and Lockheed Martin have been paused due to the tariffs. Trump and Indian Prime Minister Narendra Modi had in February announced plans to pursue procurement and joint production of those items. Singh had also been planning to announce the purchase of six Boeing P8I reconnaissance aircraft and support systems for the Indian Navy during his now-cancelled trip, two of the people said. Talks over procuring the aircraft in a proposed $US3.6 billion ($A5.5 billion) deal were at an advanced stage, according to the officials. Boeing, Lockheed Martin and General Dynamics referred queries to the Indian and US governments. Raytheon did not return a request for comment. India's deepening security relationship with the US, which is fuelled by their shared strategic rivalry with China, was heralded by many US analysts as one of the key areas of foreign-policy progress in the first Trump administration. Delhi is the world's second-largest arms importer and Russia has traditionally been its top supplier. India has in recent years, however, shifted to importing from Western powers like France, Israel and the US, according to the Stockholm International Peace Research Institute think-tank. The shift in suppliers was driven partly by constraints on Russia's ability to export arms, which it is utilising heavily in its invasion of Ukraine. Some Russian weapons have also performed poorly on the battlefield, according to Western analysts. The broader US-India defence partnership, which includes intelligence sharing and joint military exercises, continues without hiccups, one of the Indian officials said. India also remains open to scaling back oil imports from Russia and is open to making deals elsewhere, including the US, if it can get similar prices, according to two other Indian sources. Trump's threats and rising anti-US nationalism in India have "made it politically difficult for Modi to make the shift from Russia to the US," one of the officials said. New Delhi has put on hold its plans to procure new US weapons and aircraft, according to three officials familiar with the matter, in India's first concrete sign of discontent after tariffs imposed on its exports by President Donald Trump dragged ties to their lowest level in decades. India had been planning to send Defence Minister Rajnath Singh to Washington in the coming weeks for an announcement on some of the purchases, but that trip has been cancelled, two of the people said. Trump, on August 6, imposed an additional 25 per cent tariff on Indian goods as punishment for Delhi's purchases of Russian oil, which he said meant the country was funding Russia's invasion of Ukraine. That raised the total duty on Indian exports to 50 per cent - among the highest of any US trading partner. The president has a history of rapidly reversing himself on tariffs and India has said it remains actively engaged in discussions with Washington. One of the officials said the defence purchases could go ahead once India had clarity on tariffs and the direction of bilateral ties, but "just not as soon as they were expected to". Written instructions had not been given to pause the purchases, another official said, indicating that Delhi had the option to quickly reverse course, though there was "no forward movement at least for now". Post publication of this story, India's government issued a statement it attributed to a Ministry of Defence source describing news reports of a pause in the talks as "false and fabricated." The statement also said procurement was progressing as per "extant procedures". Delhi, which has forged a close partnership with America in recent years, has said it is being unfairly targeted and that Washington and its European allies continue to trade with Moscow when it is in their interest. Reuters is reporting for the first time that discussions on India's purchases of Stryker combat vehicles made by General Dynamics Land Systems and Javelin anti-tank missiles developed by Raytheon and Lockheed Martin have been paused due to the tariffs. Trump and Indian Prime Minister Narendra Modi had in February announced plans to pursue procurement and joint production of those items. Singh had also been planning to announce the purchase of six Boeing P8I reconnaissance aircraft and support systems for the Indian Navy during his now-cancelled trip, two of the people said. Talks over procuring the aircraft in a proposed $US3.6 billion ($A5.5 billion) deal were at an advanced stage, according to the officials. Boeing, Lockheed Martin and General Dynamics referred queries to the Indian and US governments. Raytheon did not return a request for comment. India's deepening security relationship with the US, which is fuelled by their shared strategic rivalry with China, was heralded by many US analysts as one of the key areas of foreign-policy progress in the first Trump administration. Delhi is the world's second-largest arms importer and Russia has traditionally been its top supplier. India has in recent years, however, shifted to importing from Western powers like France, Israel and the US, according to the Stockholm International Peace Research Institute think-tank. The shift in suppliers was driven partly by constraints on Russia's ability to export arms, which it is utilising heavily in its invasion of Ukraine. Some Russian weapons have also performed poorly on the battlefield, according to Western analysts. The broader US-India defence partnership, which includes intelligence sharing and joint military exercises, continues without hiccups, one of the Indian officials said. India also remains open to scaling back oil imports from Russia and is open to making deals elsewhere, including the US, if it can get similar prices, according to two other Indian sources. Trump's threats and rising anti-US nationalism in India have "made it politically difficult for Modi to make the shift from Russia to the US," one of the officials said.
