Mila Resources PLC DC Drilling Underway at Kathleen Valley (4678Y)
06 Septembre 2022 - 1:49PM
UK Regulatory
TIDMMILA
RNS Number : 4678Y
Mila Resources PLC
06 September 2022
Mila Resources Plc / Index: LSE / Epic: MILA / Sector: Natural
Resources
6 September 2022
Mila Resources Plc
('Mila' or the 'Company')
Diamond Core Drilling Underway at Kathleen Valley Gold
Project
Mila Resources Plc (LSE:MILA), the post-discovery gold
exploration accelerator, is pleased to confirm that its Stage 2
drilling programme has now commenced at the Kathleen Valley Gold
Project in Western Australia ('Kathleen Valley' or the 'Project')
as part of its ongoing 13,500m programme.
Overview
-- Diamond Core Drilling commenced on 6 September at the
flagship Coffey Deposit ('Coffey'), following a successful Stage 1
programme which defined mineralisation over a zone 200m long, 220m
down dip and ranging from 2m to 10m in true thickness
-- Stage 1 results from Coffey include 6.6m at almost 15 grams
gold and 22 grams silver, 10m at 8.38 grams gold and almost 14
grams silver
-- This new phase of drilling will include an initial 2,000m and
will aim to build on the success of the Stage 1 results as Mila
looks to build a significant commercial resource at the Project
-- The Project is located in a region that hosts some of the
largest gold projects in Australia, including the adjacent,
high-grade Bellevue Gold Project, and the gold producing Wiluna
Mining located 60km to the north
-- Earthworks and drill site preparation is now complete,
following a delay of approximately three weeks due to earthmoving
contractor availability, and the drill rig is setup with coring of
hole KVDD0035 now underway
-- Essential preventative maintenance was completed on the drill
rig during this period to ensure a solid performance throughout the
campaign
-- Regular updates will be posted as drilling continues
Drill Rig setup on site at diamond core hole KVDD0035.
Mark Stephenson, Executive Chairman of Mila commented: "I am
delighted to report that drilling has now commenced again at
Coffey, albeit around three weeks later than originally intended
due to contractor availability. Our team on the ground has used
this extra time constructively and we are launching this campaign
having completed preventative maintenance to support an efficient
and effective drill programme henceforth.
"Coffey has revealed some truly exceptional results from
previous drilling so we are moving forward now with high hopes, and
a decent degree of confidence, of some more interesting commercial
widths and grades from this priority target at our Kathleen Valley
Project. We will keep shareholders abreast of our activities over
the coming weeks as we look to present more evidence of Coffey's
significantly increased resource potential."
Further Information
DrillCore drilling contractors have been commissioned to
undertake an initial 2,000m of drilling, comprising of five deep
diamond core drill holes at Coffey as Mila step backs to the
north-east and tests the mineralised system down to a vertical
depth of approximately 300-350m (Figure 1). Drilling will also test
the potential of the additional lodes, which were intersected in
the last round of deeper drill holes.
Fig1: Drill collar plan showing RC drill holes (black), Diamond
drill hole (blue) and Stage 2 planned holes (magenta). The existing
JORC resource zone is shown with the new mineralisation extension
zone. Gold intersection bars are shown in red with reported
intersection positions. Stage 2 drilling as shown in the red oval
will test for NE down dip extensions at depth. Stage 3 will step
out further along strike looking for new undiscovered
extensions.
**ENDS**
For more information visit www.milaresources.com or contact:
Mark Stephenson info@milaresources.com
Mila Resources Plc
Jonathan Evans
Tavira Securities Limited +44 (0) 20 7100 5100
Nick Emerson
SI Capital +44 (0) 20 3143 0600
Susie Geliher and Charlotte
Page
St Brides Partners Limited +44 (0) 20 7236 1177
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END
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