REG - Mila Resources Plc - Yarrol Results: A Continuous & Scalable Au System

Mila ResourcesAnnouncement

16/04/2026 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260416:nRSP6607Aa&default-theme=true

RNS Number : 6607A  Mila Resources PLC  16 April 2026

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

 

16 April 2026

Mila Resources Plc

("Mila" or the "Company")

 

Drilling Results Confirm Yarrol as a Continuous and Scalable Gold System

 

Mila Resources Plc (LSE: MILA), the post-discovery gold exploration
accelerator, is pleased to report initial assay results from its Q1 2026
Reverse Circulation ("RC") drilling campaign at the Yarrol Gold Project,
Queensland, Australia ("Yarrol") together with the first rock chip assay
results from the Basilica and Jazza target areas within its Monal West
licence.

 

OVERVIEW

 

Yarrol Gold Project - RC Drilling

·      Initial results from the Q1 2026 RC campaign confirm gold
mineralisation at the southernmost positions drilled to date at Yarrol North,
extending the confirmed strike length of just this one target to over 500m

·      These holes were designed to test the furthest southern extent of
the system and west of holes included in the historic resource; mineralisation
remains present and open in all direction at Yarrol

·      Further results from infill and step-out holes completed as part
of the Q1 2026 programme are pending and will be reported in due course

·      The programme is designed to build the dataset required for an
initial JORC mineral resource estimate ("MRE")

 

Monal West - Basilica and Jazza Rock Chips

·      First rock chip results from the Jazza target return anomalous
Au, Cu and Ag, with best result of 1.8% Cu, 0.72 g/t Au and 51.4 g/t Ag
(SBSLC016)

·      Elevated molybdenum (Mo), zinc (Zn) and tungsten (W) across
multiple samples is consistent with the geochemical signature of a porphyry
and associated epithermal system

·      Results are interpreted as potential surface expressions of a
mineralised system extending to depth, consistent with a substantial inherited
IP anomaly beneath the licence

·      Mila will advance these targets to drill-ready status using
cost-effective ground geophysical surveys

 

Mark Stephenson, Executive Chairman, commented:

"These first set of drill holes were designed to test the southern and western
edge of Yarrol, and the message is clear: the system is still there,
mineralised and remains open. Broad zones of gold mineralisation, with
higher-grade intercepts emerging at the southern margin, right at the limits
of current drilling, are exactly what you want to see when building towards a
maiden MRE. We have not yet defined the boundaries of this system, and these
results reinforce our confidence that there the system will produce a
meaningful resource to be defined.

 

"At Monal West, the rock chip results from the Jazza target have come back as
we hoped. Gold, copper and silver, alongside anomalous molybdenum, tungsten
and zinc, form a geochemical signature consistent with a porphyry-style system
at depth. The geophysics pointed to something substantial beneath the surface,
and now the geochemistry is backing that up. We will run targeted ground IP
surveys across these priority corridors to refine our targets and move them
efficiently towards drill-ready status.

 

"We are advancing two high-quality exploration programmes in parallel, each
delivering results that reinforce the scale and potential of the ground we
hold. This epitomises our entire exploration strategy - move with discipline,
drill smart, and systematically build value."

 

Further Information

 

Yarrol Gold Project: Initial Results from RC Campaign

 

 

Figure 1. An overview of Mila's completed drilling at Yarrol. Holes MYARC0219 and MYARC0221 are shown at the south of the historic resource area and within the southern extension to Au mineralisation.

 

Mila is pleased to announce initial results from the first two holes of a
12-hole RC programme at Yarrol.

 

The Q1 2026 RC programme was designed to systematically extend the mineralised
footprint at Yarrol in support of an initial JORC MRE, with infill and
step-out holes testing the boundaries of the system in all directions. To
date, mineralisation has not been closed off in any direction and the
confirmed strike length at Yarrol North now exceeds 500m.

 

This initial batch of results covers a southern step-out hole designed to test
the outer limits of the system and an infill hole to test mineralisation
continuity in the west of the historic resource area. Even at these furthest
positions, broad zones of gold mineralisation with higher-grade internal
intercepts have been returned, and the system remains open to the south.
Further results from the remainder of the Q1 2025 programme are pending and
will be reported in due course.

 

Best intercepts from the initial two holes include:

 

MYARC0221

·      9 m @ 0.7 g/t Au from 31 m

o  Including 1 m @ 1.45 g/t Au from 31 and 1 m @ 1.35 g/t Au from 37 m

MYARC0219

·      5 m @ 1.0 g/t Au from 42 m

o  Including 2 m @ 1.44 g/t Au from 43 m

 

Multi-element geochemical assays are being used to refine the Company's
structural interpretation of the Yarrol system and to inform next-phase drill
targeting.

 

Monal West: Basilica and Jazza Target Rock Chip Results

 

At Monal West, initial rock chip sampling around the Jazza target has returned
anomalous gold, copper and silver values accompanied by a multi-element
(molybdenum (Mo), zinc (Zn) and tungsten (W)) geochemical signature consistent
with porphyry and epithermal mineralising systems. The Company considers these
results to be early-stage vectoring information into what may represent a
broader mineralised system at depth, in a region where the inherited IP
geophysics has defined a substantial subsurface anomaly. Mila intends to
advance these targets to drill-ready status through targeted low-cost ground
geophysical survey methods.

 

Mila's reprocessing of historical geophysical datasets identified a priority
porphyry-style exploration corridor within its Monal West licence, anchored by
the Basilica IP anomaly. The Jazza target, located to the southwest of
Basilica, was selected for initial surface sampling based on structural
interpretation and geochemical vectoring from legacy datasets.

 

Rock chip samples from surface outcrops of quartz veins in a creek bed
proximal to Jazza returned anomalous multi-element values:

 

 Sample ID  Easting  Northing  Au (g/t)  Cu (%)  Ag (g/t)  Mo (ppm)  W (ppm)  Zn (ppm)
 SBSLC013   306027   7282477   -         0.60    12.0      19        3.4      287
 SBSLC014   306027   7282477   0.67      0.27    -         5         2.6      656
 SBSLC015   306027   7282477   -         0.50    10.0      1.8       0.8      134
 SBSLC016   306027   7282475   0.72      1.80    51.4      1.71      1.5      673

Figure 2. Location of the Basilica-Jazza prospect in the Monal licence. Rock
chips were collected from the Jazza target to the SW of the Basilica
geophysical anomaly.

 

Competent Person Statement

The information in this announcement relating to Exploration Results is based
on information compiled by Alastair Goodship, who is COO of Mila Resources,
and a member of The Institute of Materials, Minerals and Mining and a Fellow
of the Geological Society. Dr Goodship has sufficient experience relevant to
the style of mineralisation and type of deposit under consideration, and to
the activity he is undertaking to qualify as a Competent Person as defined in
the 2012 Edition of the "Australasian Code for Reporting of Exploration
Results, Mineral Resource and Ore Reserves".

 

 

**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 

 

 

ABOUT MILA RESOURCES

Mila Resources Plc (LSE: MILA) is a post-discovery gold exploration company
focused on advancing a portfolio of gold and copper interests in Queensland,
Australia.  The most advanced is the Yarrol Gold Project which is moving
towards an initial Mineral Resource Estimate, alongside the systematic
advancement of exploration targets across its broader Queensland licence
portfolio, including the Monal West porphyry corridor.

 

Appendix - Drill Results

 

 Hole ID    Sample No  From   To     Width  Au (ppm)
 MYARC0219  260482     0.0    1.0    1.0    0.07
 MYARC0219  260483     1.0    2.0    1.0    0.04
 MYARC0219  260484     2.0    3.0    1.0    0.02
 MYARC0219  260485     3.0    4.0    1.0    0.01
 MYARC0219  260486     4.0    5.0    1.0    0.01
 MYARC0219  260487     5.0    6.0    1.0    0.01
 MYARC0219  260488     6.0    7.0    1.0    0.01
 MYARC0219  260489     7.0    8.0    1.0    0.03
 MYARC0219  260490     8.0    9.0    1.0    0.04
 MYARC0219  260491     9.0    10.0   1.0    0.07
 MYARC0219  260492     10.0   11.0   1.0    0.01
 MYARC0219  260493     11.0   12.0   1.0    0.02
 MYARC0219  260494     12.0   13.0   1.0    0.03
 MYARC0219  260495     13.0   14.0   1.0    0.06
 MYARC0219  260496     14.0   15.0   1.0    0.04
 MYARC0219  260497     15.0   16.0   1.0    0.01
 MYARC0219  260498     16.0   17.0   1.0    0.03
 MYARC0219  260499     17.0   18.0   1.0    0.04
 MYARC0219  260500     18.0   19.0   1.0    0.13
 MYARC0219  260501     19.0   20.0   1.0    0.04
 MYARC0219  260504     20.0   21.0   1.0    0.05
 MYARC0219  260505     21.0   22.0   1.0    0.02
 MYARC0219  260506     22.0   23.0   1.0    0.05
 MYARC0219  260507     23.0   24.0   1.0    0.07
 MYARC0219  260508     24.0   25.0   1.0    0.07
 MYARC0219  260509     25.0   26.0   1.0    0.04
 MYARC0219  260510     26.0   27.0   1.0    0.02
 MYARC0219  260511     27.0   28.0   1.0    0.03
 MYARC0219  260512     28.0   29.0   1.0    0.03
 MYARC0219  260513     29.0   30.0   1.0    0.04
 MYARC0219  260514     30.0   31.0   1.0    0.05
 MYARC0219  260515     31.0   32.0   1.0    0.03
 MYARC0219  260516     32.0   33.0   1.0    0.02
 MYARC0219  260517     33.0   34.0   1.0    0.03
 MYARC0219  260518     34.0   35.0   1.0    0.06
 MYARC0219  260519     35.0   36.0   1.0    0.31
 MYARC0219  260520     36.0   37.0   1.0    0.19
 MYARC0219  260521     37.0   38.0   1.0    0.15
 MYARC0219  260522     38.0   39.0   1.0    0.06
 MYARC0219  260523     39.0   40.0   1.0    0.09
 MYARC0219  260526     40.0   41.0   1.0    0.08
 MYARC0219  260527     41.0   42.0   1.0    0.02
 MYARC0219  260528     42.0   43.0   1.0    0.96
 MYARC0219  260529     43.0   44.0   1.0    1.36
 MYARC0219  260530     44.0   45.0   1.0    1.52
 MYARC0219  260531     45.0   46.0   1.0    0.71
 MYARC0219  260532     46.0   47.0   1.0    0.39
 MYARC0219  260533     47.0   48.0   1.0    0.28
 MYARC0219  260534     48.0   49.0   1.0    0.23
 MYARC0219  260535     49.0   50.0   1.0    0.13
 MYARC0219  260536     50.0   51.0   1.0    0.07
 MYARC0219  260537     51.0   52.0   1.0    0.02
 MYARC0219  260538     52.0   53.0   1.0    0.01
 MYARC0219  260539     53.0   54.0   1.0    0.07
 MYARC0219  260540     54.0   55.0   1.0    0.02
 MYARC0219  260541     55.0   56.0   1.0    0.02
 MYARC0219  260542     56.0   57.0   1.0    0.02
 MYARC0219  260543     57.0   58.0   1.0    0.03
 MYARC0219  260544     58.0   59.0   1.0    0.01
 MYARC0219  260545     59.0   60.0   1.0    0.01
 MYARC0219  260548     60.0   61.0   1.0    0.01
 MYARC0219  260549     61.0   62.0   1.0    0.01
 MYARC0219  260550     62.0   63.0   1.0    0.02
 MYARC0219  260551     63.0   64.0   1.0    0.05
 MYARC0219  260552     64.0   65.0   1.0    0.03
 MYARC0219  260553     65.0   66.0   1.0    0.01
 MYARC0219  260554     66.0   67.0   1.0    0.01
 MYARC0219  260555     67.0   68.0   1.0    0.01
 MYARC0219  260556     68.0   69.0   1.0    0.01
 MYARC0219  260557     69.0   70.0   1.0    0.01
 MYARC0219  260558     70.0   71.0   1.0    0.01
 MYARC0219  260559     71.0   72.0   1.0    0.01
 MYARC0219  260560     72.0   73.0   1.0    0.01
 MYARC0219  260561     73.0   74.0   1.0    0.01
 MYARC0219  260562     74.0   75.0   1.0    0.01
 MYARC0219  260563     75.0   76.0   1.0    0.01
 MYARC0219  260564     76.0   77.0   1.0    0.01
 MYARC0219  260565     77.0   78.0   1.0    0.01
 MYARC0219  260566     78.0   79.0   1.0    0.01
 MYARC0219  260567     79.0   80.0   1.0    0.01
 MYARC0219  260570     80.0   81.0   1.0    0.01
 MYARC0219  260571     81.0   82.0   1.0    0.01
 MYARC0219  260572     82.0   83.0   1.0    0.01
 MYARC0219  260573     83.0   84.0   1.0    0.01
 MYARC0219  260574     84.0   85.0   1.0    0.01
 MYARC0219  260575     85.0   86.0   1.0    0.01
 MYARC0219  260576     86.0   87.0   1.0    0.02
 MYARC0219  260577     87.0   88.0   1.0    0.02
 MYARC0219  260578     88.0   89.0   1.0    0.01
 MYARC0219  260579     89.0   90.0   1.0    0.01
 MYARC0219  260580     90.0   91.0   1.0    0.01
 MYARC0219  260581     91.0   92.0   1.0    0.01
 MYARC0219  260582     92.0   93.0   1.0    0.01
 MYARC0219  260583     93.0   94.0   1.0    0.01
 MYARC0219  260584     94.0   95.0   1.0    0.01
 MYARC0219  260585     95.0   96.0   1.0    0.01
 MYARC0219  260586     96.0   97.0   1.0    0.01
 MYARC0219  260587     97.0   98.0   1.0    0.01
 MYARC0219  260588     98.0   99.0   1.0    0.01
 MYARC0219  260589     99.0   100.0  1.0    0.01
 MYARC0219  260592     100.0  101.0  1.0    0.01
 MYARC0219  260593     101.0  102.0  1.0    0.01
 MYARC0219  260594     102.0  103.0  1.0    0.01
 MYARC0219  260595     103.0  104.0  1.0    0.01
 MYARC0219  260596     104.0  105.0  1.0    0.01
 MYARC0219  260597     105.0  106.0  1.0    0.01
 MYARC0219  260598     106.0  107.0  1.0    0.01
 MYARC0219  260599     107.0  108.0  1.0    0.01
 MYARC0219  260600     108.0  109.0  1.0    0.01
 MYARC0219  260601     109.0  110.0  1.0    0.01
 MYARC0219  260602     110.0  111.0  1.0    0.01
 MYARC0219  260603     111.0  112.0  1.0    0.01
 MYARC0219  260604     112.0  113.0  1.0    0.01
 MYARC0219  260605     113.0  114.0  1.0    0.01
 MYARC0219  260606     114.0  115.0  1.0    0.01
 MYARC0219  260607     115.0  116.0  1.0    0.01
 MYARC0219  260608     116.0  117.0  1.0    0.01
 MYARC0219  260609     117.0  118.0  1.0    0.01
 MYARC0219  260610     118.0  119.0  1.0    0.01
 MYARC0219  260611     119.0  120.0  1.0    0.01

 

 

 Hole ID    Sample No  From  To     Width  Au (ppm)
 MYARC0221  260832     0.0   1.0    1.0    0.02
 MYARC0221  260833     1.0   2.0    1.0    0.01
 MYARC0221  260834     2.0   3.0    1.0    0.02
 MYARC0221  260835     3.0   4.0    1.0    0.01
 MYARC0221  260836     4.0   5.0    1.0    0.02
 MYARC0221  260837     5.0   6.0    1.0    0.02
 MYARC0221  260838     6.0   7.0    1.0    0.01
 MYARC0221  260839     7.0   8.0    1.0    0.01
 MYARC0221  260840     8.0   9.0    1.0    0.02
 MYARC0221  260841     9.0   10.0   1.0    0.04
 MYARC0221  260842     10.0  11.0   1.0    0.01
 MYARC0221  260843     11.0  12.0   1.0    0.01
 MYARC0221  260844     12.0  13.0   1.0    0.01
 MYARC0221  260845     13.0  14.0   1.0    0.01
 MYARC0221  260846     14.0  15.0   1.0    0.01
 MYARC0221  260847     15.0  16.0   1.0    0.01
 MYARC0221  260848     16.0  17.0   1.0    0.02
 MYARC0221  260849     17.0  18.0   1.0    0.04
 MYARC0221  260850     18.0  19.0   1.0    0.02
 MYARC0221  260851     19.0  20.0   1.0    0.02
 MYARC0221  260854     20.0  21.0   1.0    0.01
 MYARC0221  260855     21.0  22.0   1.0    0.02
 MYARC0221  260856     22.0  23.0   1.0    0.02
 MYARC0221  260857     23.0  24.0   1.0    0.01
 MYARC0221  260858     24.0  25.0   1.0    0.11
 MYARC0221  260859     25.0  26.0   1.0    0.02
 MYARC0221  260860     26.0  27.0   1.0    0.04
 MYARC0221  260861     27.0  28.0   1.0    0.03
 MYARC0221  260862     28.0  29.0   1.0    0.02
 MYARC0221  260863     29.0  30.0   1.0    0.02
 MYARC0221  260864     30.0  31.0   1.0    0.04
 MYARC0221  260865     31.0  32.0   1.0    1.45
 MYARC0221  260866     32.0  33.0   1.0    0.33
 MYARC0221  260867     33.0  34.0   1.0    0.82
 MYARC0221  260868     34.0  35.0   1.0    0.12
 MYARC0221  260869     35.0  36.0   1.0    0.15
 MYARC0221  260870     36.0  37.0   1.0    0.62
 MYARC0221  260871     37.0  38.0   1.0    1.35
 MYARC0221  260872     38.0  39.0   1.0    0.79
 MYARC0221  260873     39.0  40.0   1.0    0.47
 MYARC0221  260876     40.0  41.0   1.0    0.27
 MYARC0221  260877     41.0  42.0   1.0    0.06
 MYARC0221  260878     42.0  43.0   1.0    0.11
 MYARC0221  260879     43.0  44.0   1.0    0.07
 MYARC0221  260880     44.0  45.0   1.0    0.04
 MYARC0221  260881     45.0  46.0   1.0    0.11
 MYARC0221  260882     46.0  47.0   1.0    0.03
 MYARC0221  260883     47.0  48.0   1.0    0.07
 MYARC0221  260884     48.0  49.0   1.0    0.01
 MYARC0221  260885     49.0  50.0   1.0    0.01
 MYARC0221  260886     50.0  51.0   1.0    0.01
 MYARC0221  260887     51.0  52.0   1.0    0.02
 MYARC0221  260888     52.0  53.0   1.0    0.01
 MYARC0221  260889     53.0  54.0   1.0    0.02
 MYARC0221  260890     54.0  55.0   1.0    0.01
 MYARC0221  260891     55.0  56.0   1.0    0.02
 MYARC0221  260892     56.0  57.0   1.0    0.01
 MYARC0221  260893     57.0  58.0   1.0    0.03
 MYARC0221  260894     58.0  59.0   1.0    0.02
 MYARC0221  260895     59.0  60.0   1.0    0.02
 MYARC0221  260898     60.0  61.0   1.0    0.01
 MYARC0221  260899     61.0  62.0   1.0    0.01
 MYARC0221  260900     62.0  63.0   1.0    0.01
 MYARC0221  260901     63.0  64.0   1.0    0.01
 MYARC0221  260902     64.0  65.0   1.0    0.02
 MYARC0221  260903     65.0  66.0   1.0    0.02
 MYARC0221  260904     66.0  67.0   1.0    0.02
 MYARC0221  260905     67.0  68.0   1.0    0.03
 MYARC0221  260906     68.0  69.0   1.0    0.01
 MYARC0221  260907     69.0  70.0   1.0    0.01
 MYARC0221  260908     70.0  71.0   1.0    0.02
 MYARC0221  260909     71.0  72.0   1.0    0.01
 MYARC0221  260910     72.0  73.0   1.0    0.01
 MYARC0221  260911     73.0  74.0   1.0    0.01
 MYARC0221  260912     74.0  75.0   1.0    0.01
 MYARC0221  260913     75.0  76.0   1.0    0.01
 MYARC0221  260914     76.0  77.0   1.0    0.01
 MYARC0221  260915     77.0  78.0   1.0    0.01
 MYARC0221  260916     78.0  79.0   1.0    0.01
 MYARC0221  260917     79.0  80.0   1.0    0.01
 MYARC0221  260920     80.0  81.0   1.0    0.01
 MYARC0221  260921     81.0  82.0   1.0    0.02
 MYARC0221  260922     82.0  83.0   1.0    0.01
 MYARC0221  260923     83.0  84.0   1.0    0.02
 MYARC0221  260924     84.0  85.0   1.0    0.01
 MYARC0221  260925     85.0  86.0   1.0    0.01
 MYARC0221  260926     86.0  87.0   1.0    0.01
 MYARC0221  260927     87.0  88.0   1.0    0.01
 MYARC0221  260928     88.0  89.0   1.0    0.01
 MYARC0221  260929     89.0  90.0   1.0    0.01
 MYARC0221  260930     90.0  91.0   1.0    0.01
 MYARC0221  260931     91.0  92.0   1.0    0.01
 MYARC0221  260932     92.0  93.0   1.0    0.01
 MYARC0221  260933     93.0  94.0   1.0    0.01
 MYARC0221  260934     94.0  95.0   1.0    0.01
 MYARC0221  260935     95.0  96.0   1.0    0.01
 MYARC0221  260936     96.0  97.0   1.0    0.02
 MYARC0221  260937     97.0  98.0   1.0    0.01
 MYARC0221  260938     98.0  99.0   1.0    0.01
 MYARC0221  260939     99.0  100.0  1.0    0.02

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DRLZZGMDMKNGVZZ



            Copyright 2019 Regulatory News Service, all rights reserved