REG - Mila Resources Plc - Phase 2 Exploration Programme Commenced

Mila ResourcesAnnouncement

22/07/2025 07:00

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RNS Number : 0262S  Mila Resources PLC  22 July 2025

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

 

22 July 2025

Mila Resources Plc

("Mila" or the Company")

Phase 2 Exploration Programme Commenced at Queensland Gold Portfolio

 

Mila Resources Plc (LSE:MILA), the post-discovery gold exploration
accelerator, is pleased to announce that the Phase 2 exploration programme has
now commenced at its flagship Yarrol Gold Project ("Yarrol"), which forms part
of the Company's Queensland Gold & Copper Portfolio in central Queensland,
Australia.  Mila is focused on unlocking the mineralised system across the
20km Yarrol Fault and defining a maiden mineral resource.

 

Highlights

·    Ground magnetics contractor commissioned and survey to begin in the
coming week over the prospective southern extension of the H1 2025 drill area.

·    Priority targets include historic drill intercepts such as:

o  YLRC020: 12.0m @ 20.2g/t Au from 100m, including 2m @ 58.6g/t

o  YARC73: 12m @ 3.36g/t from 10m

o  YLRCD11: 6m @ 3.55g/t from 101.8m

o  YARPS12: 6m @ 8.54g/t from 24m

·    Specialist resource review underway - a total review of all existing
data will be used to structure the upcoming drill programme

o  Diamond drilling scheduled to commence in Q3 - focused on structures
within zones of known mineralisation. The aim will be to improve confidence in
grade, geometry, and tonnage potential.

o  Reverse Circulation (RC) drilling scheduled to commence in Q4 - targeting
resource expansion through step-out and infill drilling.

·    Detailed studies and fieldwork will also be undertaken at the Mt
Steadman and Monal Licences to advance drill targets.

·    These assets are already showing strong potential based on historic
intercepts, including:

Mt Steadman

o  MS37: 1m @ 110g/t Au from 20m

o  MS36: 2m @ 12.5g/t from 8m

o  RC95MS10: 22m @ 1.21g/t Au from surface

Monal

o  BCRC003: 7m @ 2.04g/t from 13m and 34m @ 0.37g/t from 53m

o  BCRC001: 2m @ 3.75g/t from 101m

o  BCRC007: 17m @ 0.75g/t from 10m

 

Mark Stephenson, Executive Director of Mila Resources, commented:

"Our Phase 1 exploration programme at Yarrol exceeded our expectations and we
are now excited to be commencing Phase 2, which aims to further unlock the
20km Yarrol Fault. We have only worked on ~2km area to date and this has
confirmed strong continuity and high-grade zones. Accordingly, we are
confident that our targeted exploration approach will continue to prove the
scale and quality of the system and establish Yarrol as a significant new gold
discovery.  We look forward to sharing further updates on our exploration
work in due course."

 

Geophysical studies and structural work

The Company has now engaged a geophysical contractor and is scheduled to
mobilise on site this week.

 

This work stream will commence with a detailed ground magnetic survey focusing
on the southern extension of the Yarrol project. The area includes known
mineralisation and historic drill intercepts of 20g/t Au over 12m, within a
corridor that remains untested along strike.

 

Also, the Company has engaged a highly experienced resource and structural
geology consultancy to undertake a comprehensive review of the historical and
recent data sets from Phase 1 exploration. This work will underpin the design
of the next drilling campaigns in H2, ensuring a data-driven, technically
robust approach.

 

Other Work to be completed in H2 2025

Following the completion of the geophysical studies and structural work the
Company will be able to commence diamond drilling in Q3 with the aim of
understanding the controls on mineralisation at Yarrol, particularly the high
grade zones.

 

The Company will also undertake further RC drilling in Q4 to step-out and
infill holes at Yarrol. Detailed studies and fieldwork will also be undertaken
at the Mt Steadman and Monal licences to advance drill targets. Whilst the
immediate focus is to derisk the team's geological model and to continue to
achieve strong results from the drill programme, all the drilling from Phase 1
and 2 will contribute towards the maiden mineral resource estimate,

 

**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 Financial Limited

  
 Nick Emerson                   +44 (0) 20 3143 0600

 SI Capital

  
 Damon Heath                    +44 (0) 20 3971 7000

 Shard Capital Partners LLP

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

 St Brides Partners Limited

 

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