REG - Mila Resources Plc - Exploration Update & Awaiting Results

Mila ResourcesAnnouncement

28/11/2025 07:00

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RNS Number : 3619J  Mila Resources PLC  28 November 2025

Mila Resources Plc / Index: LSE / Epic: MILA / Sector: Natural Resources

 

28 November 2025

Mila Resources Plc

('Mila' or the 'Company')

 

Exploration Update & Awaiting Results

 

Mila Resources Plc (LSE: MILA), the post-discovery gold exploration
accelerator, is pleased to provide an update on exploration activities at its
Queensland Gold and Copper Portfolio in Australia.

 

Highlights:

 

Yarrol Drilling Campaign

·    Following completion of the 1,451.1m diamond drilling ("DD")
programme at Yarrol in early Q4 2025, assay results are expected in batches
between now and the end of January 2026.

o  The Company has been advised of longer lead times for assays due to
laboratory utilisation levels being high - Company remain on notice to receive
first assay results imminently.

o  The Company submitted a greater number of samples due to the visual
observation of the diamond drill core of the intersection of multiple newly
defined zones of potential mineralisation, therefore, the volume of assays is
greater than planned and as such will take longer to fulfil.

·    The DD assay results will directly feed into refining the Yarrol
geological model, enabling greater precision in detailed planning of the
upcoming and reverse circulation ("RC") campaign.

·    The fully funded RC drill programme will commence once DD assay
results are received, allowing adequate time to interrogate the results from
the diamond drilling programme.

·    The next phase of drilling at Yarrol is designed to underpin the
development of a mineral resource estimate ("MRE"), focusing on a 2km zone and
helping to define additional target zones across the continuous ~20km strike
length of the Yarrol Fault, a district-scale opportunity.

·    The Company has secured Centurion Drilling Pty Ltd, the contractor
that successfully delivered the DD programme, to act as drilling contractor
for the RC drilling programme. Centurion is being kept aware of Mila's
activities so as to initiate the campaign shortly after the campaign design
has been finalised.

 

Monal & Mt Steadman Drilling target work

·    First-phase exploration at Monal and Mt Steadman is scheduled for
early Q1 2026, expanding the pipeline of drill ready targets across the
broader Queensland portfolio.

o  At Monal, an Induced Polarisation ("IP") geophysical survey will be
conducted around historic gold workings of the Monal Target, where gold
mineralisation has been defined along a ~2km trend.

o  At Mt Steadman, targeted geophysical surveys will look to define and
structure infill and step-out targets out from the known historic and
non-compliant resource at the Fitzroy prospect where mineralisation from
surface down to ~100m has intercepted grades of 23m @ 1.04g/t and 19m @
1.21g/t gold.

o  Mapping and sampling will also take place to better define targets along
the ~8km Perry Fault at Mt Steadman and target the London and Venus prospects
where high grade intercepts included 2m @ 110g/t gold.

·    These combined activities are designed to bring these targets up to a
drill ready stage and expand the resource to be defined across the entire
Queensland portfolio, leveraging the strong technical success already
demonstrated at Yarrol.

 

Mark Stephenson, Executive Chairman, commented:

"The completion of our diamond drilling programme at Yarrol in early Q4 marked
an important milestone for Mila as we accelerate towards the development of an
MRE.  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.

 

"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.  Drilling is the most
capital-intensive part of our business, and we are taking the prudent decision
schedule the RC programme once the team as adequate time to analyse the DD
assays, to ensure a methodical approach to maximise drilling success.  Our
next objective is to target the higher-grade zones with greater precision, and
in turn support the definition of an MRE.

 

"Alongside this, given the success we have had at Yarrol, we are now looking
to develop our resource potential across the licence package by developing
drill targets at the adjacent properties of Mt Steadman and Monal properties.
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. We look forward to sharing further updates on
these planned work programmes and the Yarrol assay results in due course."

 

**ENDS**

 

For more information visit www.milaresources.com or contact: 

 

 Mark Stephenson                   info@milaresources.com 

 Mila Resources Plc 

  
 Jonathan Evans                    +44 (0) 20 7100 5100 

 Tavira Securities Limited 

  
 Nick Emerson                      +44 (0) 20 3143 0600 

 SI Capital  

  
 Susie Geliher / Will Turner       +44 (0) 20 7236 1177 

 St Brides Partners Limited 

 

 

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