Mila Resources (LSE:MILA) reported high-grade gold intercepts from the Yarrol project and said it has commenced pre-resource evaluation work ahead of an initial Mineral Resource Estimate and preliminary economic study.
Highlights from the final nine holes of a 12-hole RC campaign include 3m at 2.5 g/t from 21m (including 1m at 7.24 g/t), 29m at 0.74 g/t from 50m (including 9m at 1.3 g/t) and 20m at 0.5 g/t from 66m, confirming continuity beyond the historic Yarrol North footprint and that mineralisation remains open, and Mila Resources is a resource developer focused on gold and copper in Australia.
"The drilling completed to date has consistently demonstrated the scale and continuity of the Yarrol gold system, while also confirming that mineralisation remains open in multiple directions," Mark Stephenson, Executive Chairman, said.
Data integration and geological modelling is underway and is expected to be completed by mid-July, with follow-up drilling scheduled to begin in August to maximise the initial resource size.
Alongside Yarrol, Mila will begin an induced polarisation geophysical programme at Monal to define gold-copper porphyry drill targets while geological mapping and sampling continue.
At Kathleen Valley Mila and its project partners have begun a strategic review starting with a low-cost desktop Mineral Resource Estimate upgrade, with Mila participating at its current 30% interest and retaining the right to earn up to 80%, and heritage clearance in place over the Coffey target area.
Further technical updates are expected throughout 2026.
