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LONDON - Mila Resources Plc, listed on the London Stock Exchange (LON:LSEG) under the ticker LSE:MILA, has announced the completion of geophysical studies at its Yarrol Project in South-Eastern Queensland, which will inform a forthcoming drilling campaign scheduled for Q2 2025. The Yarrol Project, known for hosting non-JORC compliant gold resources, is part of the company’s portfolio that includes advanced gold targets and copper and other base metals anomalies.
The recent geophysical studies have revealed significant insights into the mineralized features along a 2km section of the Yarrol Fault, which extends approximately 20km. These findings have led to the identification of low-magnetic zones east of an intrusive orebody, with historic high-grade gold intercepts closely associated with these areas. The company interprets these zones as possible pathways for mineralizing fluids, offering promising targets for exploration.
Mila Resources is now in the process of designing a targeted drilling program to extend grade continuity within the historical resource area and to expand the footprint of known mineralization. The program aims to focus initially on the Yarrol North and Central targets, with plans to step out and test new areas of gold mineralization along the fault.
Director of Mila Resources, Mark Stephenson, expressed confidence in the potential of the Yarrol property, stating that the initial findings are encouraging and that the company is taking prudent steps to ensure efficient and targeted exploration. The company’s team of experienced geologists will oversee the upcoming drilling campaign.
The Yarrol Project update is based on a press release statement, and the company is fully funded for the drilling campaign with its current cash resources. Mila Resources is also on a clear path to earning 100% ownership of the project, aiming to unlock a step-change in the gold resource potential of its Queensland Portfolio with the refined exploration model.
Investors and interested parties can expect further updates from Mila Resources in the coming weeks as they advance the Yarrol Project and continue to explore its gold resource potential.
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