REG - Mila Resources Plc - Yarrol Project Update & Investor Presentation

Mila ResourcesAnnouncement

24/03/2025 07:00

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RNS Number : 7374B  Mila Resources PLC  24 March 2025

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

 

 24 March 2025

Mila Resources Plc

('Mila' or the 'Company')

 

Yarrol Project Update:

Progressing the Yarrol Target - Drill Programme Commencing in April

 

Mila Resources Plc ("Mila" or the "Company") is pleased to advise that it has
now signed a drilling contract to commence drilling at the Yarrol Gold Project
in SE Queensland ("Yarrol"), following the completion of all necessary
permits.

 

Highlights

•           All permitting now in place and drilling contract
signed

•           Drill pads to be installed by end of month with
drilling to commence in early April

•           2,000m focussed on 2km stretch of 20km structure

•           Assays anticipated from mid Q2 2025

 

The Company plans to drill approximately 2,000m at Yarrol focussing on a 2km
stretch of the Yarrol Fault, a gold-prospective structure that extends
approximately 20km across the Yarrol tenement. The drilling campaign has been
designed following the completion of a detailed ground magnetic survey, the
integration of digitised historic data, and an extensive data interrogation
process.

 

Drilling contractors are now preparing to mobilise rigs by the end of this
month with drill pads expected to be completed in the coming weeks. The
Company have been advised that drilling is scheduled to commence in early
April notwithstanding any adverse weather conditions that have recently
affected the area. The Company expects to receive assay results in mid-Q2
2024.

 

Exploration Objectives

The Company is targeting key geological questions that will shape the future
of the Yarrol Project, including:

 

1.         Expansion of Existing Gold Mineralisation: Assessing the
potential for significant growth in the known gold resource, particularly the
continuation of high-grade gold veins at depth below the historically drilled
zone (~60m). Additionally, the team is investigating whether the existing
low-grade gold halo has been underestimated due to assay methodology
limitations. Alternative assaying techniques are being explored to determine
whether gold values have historically been understated.

2.         Geological Vectoring for Gold Exploration: Developing a
refined geological model to identify gold mineralisation along the full length
of the Yarrol Fault. This work is expected to enhance exploration efficiency
across the Company's broader portfolio, reducing costs and accelerating
resource growth.

 

Live Company Presentation

Additionally, the Company plans to present an in-depth update on the Yarrol
Gold Project and the upcoming drilling campaign via Investor Meet Company on
Wednesday 26 March 2025 at 17:00 GMT.

 

The presentation is open to all existing and potential shareholders. Questions
can be submitted pre-event via the Investor Meet Company dashboard up until 25
March 2025, 09:00 GMT, or at any time during the live presentation.

 

Investors can sign up to Investor Meet Company for free and add to meet Mila
via:

 

https://www.investormeetcompany.com/mila-resources-plc/register-investor
(https://www.investormeetcompany.com/mila-resources-plc/register-investor)

 

Investors who already follow Mila on the Investor Meet Company platform will
automatically be invited.

 

Mila Resources remains committed to unlocking the full potential of the Yarrol
Gold Project and looks forward to updating shareholders as the drill programme
progresses.

 

Mark Stephenson, Director of Mila Resources:

"We are delighted to have now got to the phase where we are ready to drill at
Yarrol. Our team has worked hard on reviewing and evaluating the data, both
new and old, ahead of this drill programme and we are highly encouraged with
the geological model thus far. We now look forward to completing the drilling
in April and following up with assays."

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Figure 1. An overview of the historic drill collars and Milas planned 2025
drilling overlaid on (L) TMI magnetics from the 2025 geophysics survey and (R)
aerial imagery of the Yarrol target.

 

Figure 2. Planned drillholes to both confirm broad (<15 m) historic
intercepts of Au > 1g/t but also extend drilling to depth and to the east,
outside the historic resource footprint.

 

**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 / Charlotte Page  +44 (0) 20 7236 1177

 St Brides Partners Limited

 

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