RE: RNS3 Feb 2026 07:06
RNS Number : 4095R
Mila Resources PLC
03 February 2026
Mila Resources Plc / Index: LSE / Epic: MILA / Sector: Natural Resources
3 February 2026
Mila Resources Plc
('Mila' or the 'Company')
Yarrol Diamond Drilling Confirms Gold System Continuity:
Company Fully Funded for Q1 Resource Growth Campaign
Mila Resources Plc, the mineral exploration company looking to accelerate the development of post-discovery assets, is pleased to provide results from its maiden diamond drilling (DD) programme at the Yarrol Gold Project in Queensland, Australia. The programme successfully demonstrated the continuity of gold-bearing structures, with intercepts of ~5g/t gold traced from surface to ~230 metres depth and provided critical insight into the structural architecture of the system. These results, which did not deliver the grades anticipated at depth, has allowed the technical team to further refine the Company's geological model for Yarrol.
While depth extensions along the Yarrol Fault corridor warrant further work over the medium term, the most compelling and capital efficient near-term opportunity lies in testing shallow targets along strike across the Yarrol, Monal and Mt Steadman licences. The Company remains fully funded and on track to commence RC drilling at Yarrol in Q1 2026.
Overview
· Diamond drilling, chosen to define structure, has confirmed continuity of gold-bearing features from surface to ~300m depth, though high-grade intercepts were less consistent at depth than in shallow zones.
· The programme successfully intercepted gold structures throughout the tested depth range and confirmed grades of up to 5 g/t gold at depth, validating the mineralised system's scale, however, mineralisation between 230m and 300m was lower grade and/or sporadic in holes MYDD207, MYDD208, MYD209 and MYDD210.
· Hole MYDD205 confirmed northern extension to gold mineralisation beyond the historic resource area, building upon the earlier RC drilling.
· The Gold-bearing structures have been confirmed to be continuous and repetitive along strike, increasing confidence in the scale of the system.
· Mila will now pursue additional near surface targets alongside historical resources with the objective of generating multiple shallow (to a depth of 150m) prospects featuring broad gold zones that can be efficiently tested and advanced towards potential production.
Mark Stephenson, Managing Director of Mila Resources, commented:
"The recent diamond drilling programme has given us highly valuable information regarding the continuity of our gold system at depth which will help us understand structures controlling gold mineralisation, and provide the data needed to make informed decisions about our next exploration programme. The grades were lower than anticipated albeit they confirmed that gold structures extend well below surface, with grades of 5 g/t still present at depth; an important validation of the system's sca