Highly Positive Gold Results Delivered from Yarrol:
Maiden Drilling Programme Unlocks High-Grade Mineralisation
Mila Resources Plc (LSE: MILA), the post-discovery gold exploration accelerator, is pleased to announce the first batch of assay results from its maiden drilling programme at the Yarrol Gold Project in Queensland, Australia. The results received are from the first two holes of a 10-hole programme (Table 1). The results for the remaining eight holes will be released over the coming weeks, with the final assays expected by the end of Q2 2025. The drilling programme was designed to test Mila’s geological model being that Yarrol hosts a structurally controlled, multi-lode high-grade gold system with scale potential along a 20km corridor.
The drill targets were chosen following an extensive review of historical data and more recent geophysical studies undertaken by the Mila team in Q1 2025.
Drill Highlights:
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Hole MYARC0197:
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11m @ 2.91g/t Au from 11m, including 1m @ 16.45g/t Au
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1m @ 39.10g/t Au from 32m
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17m @ 5.46g/t Au from 42m, including 8m @ 9.76g/t Au, with a peak assay of 1m @ 47.40g/t Au
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Hole MYARC0195:
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2m @ 1.00g/t Au from 100m
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1m @ 5.19g/t Au from 117m
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2m @ 6.44g/t Au from 124m
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Neil Hutchison, Technical Director
“These initial results have confirmed Mila’s confidence in the Yarrol Project, from the initial validation site visit by Mila’s geologists, to the completion of the acquisition by the corporate team. The broad widths and high-grade nature of the intersections returned to date support Mila’s belief that the Yarrol Project has the potential to deliver a substantial resource with further geological and structural modelling of the ore shoots. As we finalise the sample processing we are excited to await and receive the assay results for the remainder of the drilling programme.”
Mark Stephenson, Executive Chairman
“This drilling campaign set out to confirm that Yarrol hosts a high-grade gold system. The team are delighted with these initial results which confirm the historical data is reliable and support the growth potential Mila sees in the project. We look forward to both delivering further drill results at Yarrol in the coming weeks and developing the potential of our other exciting Queensland assets in the coming months.”
Further Information
Stage 1 Drilling Campaign
The maiden programme consisted of 10 Reverse Circulation (“RC”) holes for a total of 1,870m of drilling (Figure 1 and Table 2) to test the following:
i. Confirm historical drill intercepts from historical data;
ii. Test depth and strike extensions of the historic (non-JORC compliant) resource. These first assays include step-out drilling and infill of the central historic resource area; and
iii. Test and develop our own geological-structural model based on the reinterpretation of the historical mineralisation
The Company is expecting all assay results back by the end of Q2 2025. These will include infill and deeper holes in the central zone as well as step out and infill drilling at the northern historic resource to target parallel structures
These results have bolstered Mila’s confidence in the Yarrol Project’s potential to host a substantial gold resource. The company anticipates releasing the remaining assay results from the eight other holes by the end of Q2 2025 .
In response to the announcement, Mila’s share price rose by over 7% in early trading on the London Stock Exchange, reflecting investor optimism about the project’s prospects .
For more detailed information, you can view the full announcement on Investegate.
