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Mila Resources PLC - London-based gold company focused on Australia - Notes assay results from 2022 diamond drilling programme at Kathleen Valley gold project in Australia, with assays for first five of the 11 core holes showing exceptional results.
Drilling has confirmed mineralisation over a zone 200 metres long and 220 metres down dip, open at depth and along strike.
Results should pave the way for Mila to raise its interest in the Kathleen Valley project to 55% ownership, while stage two of the programme will step out and target a new gold lode at depth.
‘I am lost for words! The assay results from the first five diamond core holes have surpassed my expectations. We knew the core would deliver strong results based on the visual observations of the sulphide mineralisation and the Bellevue-Style veins we had intersected,’ says Chief Geologist Neil Hutchison.
‘This deposit is really starting to take shape and from the observations in the recently completed drill holes, it only gets better. It's a massive achievement by the onsite personnel from Geolithic, DrillCore and PetriCore, who have all delivered such high-quality work over a short three-month period. We are all excited to commence with the Stage 2 & 3 drilling campaigns, which will chase this highly mineralised system at depth and along strike,’ Hutchison added.
Current stock price: 6.00 pence, up 25%
12-month change: up sharply since 2.95p
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