REG - Mila Resources Plc - Yarrol Project Update

Mila ResourcesAnnouncement

27/02/2025 07:00

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RNS Number : 5789Y  Mila Resources PLC  27 February 2025

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

 

 27 February 2025

Mila Resources Plc

('Mila' or the 'Company')

 

Yarrol Project Update:

Geophysics Studies Complete and Design of Drilling Programme

 

Mila Resources Plc, the post-discovery exploration accelerator, is pleased to
provide an update on its Yarrol Project, one of the three land packages in
South-Eastern Queensland that hold advanced gold targets, alongside copper and
other base metals anomalies.

 

Highlights

·     Results of geophysics studies have provided valuable insights into
key mineralised features along a 2km section of the ~20km-long Yarrol Fault.

·     Targeted drilling campaign now being designed to test priority
areas within the historic resource area and to expand the footprint of known
mineralisation.

·     Drilling campaign is fully funded with current cash resources and
is expected to commence in Q2 2025.

 

Targeting Growth at Yarrol

Mila has completed a detailed review of historic data at Yarrol, which hosts a
non-JORC compliant gold resource defined by shallow (<100m depth) historic
drilling. Building on this foundation, a Ground Magnetic Survey, coupled with
Enhanced Ground Magnetic Data Processing and 3D Unconstrained Inversion, has
now provided a clearer understanding of key mineralised features focusing
along a 2km section of the broader ~20km-long Yarrol Fault, a geological
structure believed to be associated with a larger gold mineralising system.

 

This analysis confirms well-defined low-magnetic zones to the east of an
intrusive orebody, with historic high-grade gold intercepts closely associated
with these zones. Mila's team interprets this as evidence that mineralising
fluids have altered the host rock, reducing its magnetic signature, providing
a valuable exploration vector. While some high-grade gold intercepts occur
outside these zones, further investigation is planned to understand their
significance.

 

Next Steps: Focused Drilling Campaign

Mila is now designing a targeted drilling campaign to:

 

·      Extend grade continuity within the historical resource area.
Mineralised structures were identified during previous drilling but not
further tested along strike or at depth;

·      Expand the footprint by initially focusing on the Yarrol North
and Central targets, before stepping out and testing new targets of gold
mineralisation along the Yarrol Fault; and

·      Leverage new geological insights as any discovery will be a key
to unlocking a step-change in the gold resource potential.

 

Mila is well-positioned to advance Yarrol and unlock the broader gold
potential of its Queensland Portfolio with a refined exploration model and a
clear path to earning into 100% ownership.

 

Mark Stephenson, Director of Mila Resources:

"Initial findings at Yarrol are encouraging and we are confident that this
property has significant gold resource potential over and above that declared
historically.  We are taking prudent steps to ensure that we move closer to
this objective with efficient and targeted exploration techniques, overseen by
our highly experienced team of geologists.  I am excited about the next steps
at Yarrol and look forward to providing further updates in the coming weeks."

Figure 1: Snapshot of geophysical data gathered during the recent ground
magnetics survey. The data provides a large advance on the last survey, which
was completed in the mid-90s and allows modern processing techniques to define
key controls and features associated with gold mineralisation.

 

**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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