Resolution Minerals Reports $998k Cash, Acquires Three High-Grade Projects

Strategic Acquisitions Bolster Antimony and Gold Exposure

Resolution Minerals Ltd (ASX: RML) has reported a significant quarter ending 31 March 2025, marked by the acquisition of three new projects: the Drake East Antimony-Gold Project in Queensland, and the Neardie Antimony and Spur Gold-Copper Projects in New South Wales. These acquisitions, secured through a combination of $70,000 cash and 25 million shares, position the company to capitalize on high-grade antimony, gold, and copper mineralisation in historically productive regions.

The Drake East project covers a substantial 15km strike length hosting notable high-grade silver, gold, and antimony mineralisation. Historical sampling highlights include 5.72% antimony at Ball & Smith’s Mine and 60.9 g/t gold at the Pine Prospect, underscoring the project's potential. Meanwhile, Neardie hosts three former producing antimony mines with peak grades reaching 19.5% Sb, although precise locations remain partially undocumented.

LiDAR Study Unveils Extensive Historical Workings

In a technical milestone, Resolution commissioned a LiDAR reprocessing and interpretation study at Drake East, revealing 791 historical workings including pits, shafts, and adits. These findings, exceeding company expectations, provide a detailed framework for targeting exploration efforts. Five key clusters of mine workings have been identified, such as the Hedley’s-Gully and Pine-Gully Mosquito Creek areas, which will be focal points for upcoming exploration campaigns.

While these historical workings and prospect data are not JORC compliant, they offer valuable insights into the mineralisation controls and potential extensions of known deposits. The company acknowledges the need for further validation through drilling and modern exploration techniques to convert these prospects into defined resources.

Financial Position and Capital Management

Resolution Minerals ended the quarter with a cash balance of $998,000, bolstered by a successful $1.55 million share placement. Exploration expenditure during the quarter was modest at $37,000, primarily covering tenement rentals and technical consultancy labor. The company also disclosed payments totaling $49,000 to executive directors, reflecting ongoing corporate governance transparency.

Looking ahead, Resolution is actively reviewing its project portfolio for potential divestments and acquisitions to optimize its asset base. The company plans further capital raising initiatives, including a shareholder meeting scheduled for 14 May 2025 to approve a placement, alongside potential use of its At-The-Market facility and other funding mechanisms.

Outlook and Market Positioning

Resolution Minerals is strategically positioning itself within the antimony and gold sectors, commodities gaining renewed interest due to their critical roles in emerging technologies and supply chain security. The company’s expanded portfolio and enhanced geological understanding through LiDAR data provide a solid foundation for advancing exploration and unlocking value.

However, the path to resource definition remains contingent on further drilling and market conditions supporting capital raises. Investors will be watching closely how Resolution balances its aggressive exploration ambitions with prudent financial management in the coming quarters.