Mila Resources Plc (LON: MILA) has released a progress update on its Queensland Gold and Copper Portfolio, confirming that assay results from the 1,451.1-metre diamond drilling programme at the Yarrol project will be delivered in staged batches through to the end of January 2026.
The extended timeline reflects elevated laboratory utilisation, while the company has also increased the number of submitted samples following visual indications of potential mineralisation.
These results will play a key role in refining the project’s geological model and guiding the design of a fully funded reverse circulation drilling campaign, which is intended to support the delivery of an initial mineral resource estimate.
In parallel, first-phase exploration activities, including geophysical surveys, are scheduled to commence in early 2026 across the Monal and Mt Steadman targets. Mt Steadman has historically reported encouraging gold intercepts, including 23 metres at 1.04g/t gold and 19 metres at 1.21g/t gold, alongside high-grade results of 2 metres at 110g/t gold from the London and Venus prospects, highlighting the broader potential of the portfolio.
Mark Stephenson, Executive Chairman of Mila Resources, highlighted the strategic importance of the recently completed diamond drilling programme at Yarrol, describing it as a key milestone in the company’s progression towards defining a Mineral Resource Estimate (MRE). He noted that early visual assessment of the drill core supported the company’s existing geological interpretations, prompting a decision to increase the volume of samples sent for assay in order to fully evaluate newly identified zones of mineralisation.
Stephenson stated that initial assay results are expected shortly and will be instrumental in refining the geological model and finalising priority targets for the forthcoming reverse circulation (RC) drilling programme. He emphasised that the company is taking a disciplined and methodical approach by scheduling the RC campaign after sufficient time has been allowed to analyse the diamond drilling results, ensuring capital is deployed efficiently and drilling success is maximised. The focus of the next phase will be on more precisely targeting higher-grade zones to support the delivery of an initial MRE.
In parallel, he confirmed that Mila is seeking to leverage the positive progress at Yarrol by advancing exploration activities across the wider licence area, particularly at the adjacent Mt Steadman and Monal properties. With prior drilling and historic mining activity already established, management believes these assets present a clear pathway to achieving a comparable level of technical readiness. Further updates on both the Yarrol assay results and the planned exploration programmes are expected in due course.
