RE: Assay9 Oct 2025 18:50
Mila Resources Plc Provides an Update for the Upcoming Phase 2 Drilling Campaign at the Company's Yarrol Gold Project, Queensland
Published on 09/02/2025 at 10:00 am +04
S&P Capital IQ
Mila Resources Plc
-5.45%
Mila Resources Plc provided an update for the upcoming Phase 2 drilling campaign at the Company's Yarrol Gold Project, Queensland. Following the recent capital raise in May 2025, the Company has been busy preparing for the next phase of work at Yarrol comprising the following: ground magnetic geophysical campaign - this has extended detailed coverage beyond the areas surveyed during Phase 1 and those targeted in the upcoming Phase 2 programme. These data are intended to inform Mila's understanding of the mineralised system and lay the groundwork for future step-out drilling.
Historical scout holes within the southern extension area have already intersected gold mineralisation, extending the system ~2km further to the south; however, systematic exploration is required to "fill in the gaps" to package all the targets for the next stage of project development, and unlock the broader strike potential; Fig.1. Map of Yarrol Project showing the extensions of the ground magnetic survey to the south, and gold intercepts from drilling completed in Stage 1 campaign in 2025. Review of historical dataset - The Company appointed RSC Mining and Mineral Exploration ("RSC"), a leading mining and mineral exploration consultancy, to complete a comprehensive review of historical datasets, interpreted geophysical data, and the results from Mila's successful Phase 1 programme. RSC's work has provided a robust geological framework to guide Mila's systematic, staged exploration strategy, ensuring that Phase 2 drilling maximises resource definition potential and informs subsequent campaigns; Secured land agreements with stakeholders; iv) The Company is now finalising drill pad construction and drilling contracts to mobilise rigs to site; and v) The Company plans to update the market on results of the recently completed ground geophysics testing the southern extension of Yarrol, the commencement of first-phase exploration activities at the Monal and Mt Steadman properties and progress made in unlocking value across the broader Queensland portfolio.