Mila Resources (LSE:MILA) shares soared 18.3% to 1.42p after the company reported Yarrol assay results from holes in its Q1 RC campaign, including a 112g/t gold intercept over 1m. Shares traded in an intraday range of 1.225p to 1.6p on volume of 36.7m.
The best intercepts announced were 4m at 29.4g/t Au from 8m in MYARC0222, including 1m at 112g/t Au from 10m, 9m at 2.48g/t Au from 31m in MYARC0216 including 1m at 15.05g/t Au from 36m, and 7m at 1.0g/t Au from 17m in MYARC0215 including 1m at 4.04g/t Au from 21m.
The three holes were drilled in the southern segment of the Yarrol North target and the results confirm high-grade mineralisation at the southern limits drilled to date together with northerly and westerly extensions beyond the historic resource.
Mila says the confirmed strike at Yarrol North now exceeds 500m and that mineralisation has not been closed off in any direction, with the system remaining open to the south.
"We are now moving beyond isolated results and toward building a meaningful and economic gold resource in a proven gold district," Mark Stephenson said.
Further assay results from the remainder of the Q1 RC programme are pending and will be reported as they are received while the company compiles the dataset required for an initial JORC mineral resource estimate.
