Mila Resources shares rise on Yarrol results expected "imminently"

Fri, 28th Nov 2025 12:04

(Alliance News) - Mila Resources PLC on Friday said it expects assay results from Yarrol diamond drilling in batches between now and the start of 2026, and has scheduled first-phase exploration at other assets.

Shares in Mila Resources climbed 15% to 2.30 pence on Friday morning in London.

The Australia-focused, London-based post-discovery gold exploration firm said it is on notice to receive the first results "imminently", after being advised of longer lead times.

Mila Resources said it submitted a larger number of samples, meaning it would take longer to fulfil.

A reverse circulation programme will begin after the assay results have been received. The diamond drilling results will help refine the Yarrol geological model for greater precision in planning the RC, the company said.

"Initial visual inspections of the core reinforced our confidence in our preliminary geological interpretations and as a result, we made the decision to increase the amount of samples to assay so that we can fully understand the newly defined mineralisation observed in the core," said Executive Chair Mark Stephenson.

"We now eagerly await the assay results, the first of which we expect imminently, so that we can further refine the project's geological model and finalise drill targets for the RC drilling programme which is now scheduled to commence following the seasonal holiday period."

Mila Resources also said on Friday that first-phase exploration at Monal and Mt Steadman is scheduled for early first quarter of 2026.

"With existing drilling and historic mining having occurred, the team see a clear pathway to bringing targets on these properties up to a similar stage of technical readiness as Yarrol," Stephenson added.

By Roya Shahidi, Alliance News reporter

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