Mila Resources PLC Stage 2 Drilling to Commence at Kathleen Valley (0088V)
05 Agosto 2022 - 08:00AM
UK Regulatory
TIDMMILA
RNS Number : 0088V
Mila Resources PLC
05 August 2022
Mila Resources Plc / Index: LSE / Epic: MILA / Sector: Natural
Resources
5 August 2022
Mila Resources Plc
('Mila' or the 'Company')
Stage 2 Drilling to Commence 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 is poised to commence at the Kathleen Valley
Gold Project in Western Australia ('Kathleen Valley' or the
'Project') as part of its ongoing 13,500m programme. This follows
the success of Stage 1, which delivered excellent results at the
flagship Coffey Deposit ('Coffey'), defining mineralisation over a
zone 200m long, 220m down dip and ranging from 2m to 10m in true
thickness, with results including 6.6m at almost 15 grams gold and
22 grams silver. Stage 2 will look to build on the success of these
results, focussing solely on Coffey, as it ultimately looks to
build a significant commercial resource at the Project, which 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.
Overview
-- Regulatory Programme Of Work ('POW') approvals have now been
received from the Department of Mines, Industry, Regulation &
Safety ('DMIRS')
-- The POW is valid for 48 months and permits the drilling of 30
diamond core holes and 60 Reverse Circulation ('RC') drill holes
within E36/876
-- Heritage & Environment Surveys were completed in April
2022 and approval was granted to proceed with Stages 2 & 3
drilling at the Coffey Deposit
-- Tjiwarl Aboriginal Rangers were engaged to assist with
rehabilitation of the completed Stage 1 drill sites ahead of the
next phase of drilling
-- Site works are scheduled to begin next week for the Stage 2
programme, with the drilling contractor set to commence diamond
core drilling soon afterwards
-- Drilling will step back and drill deeper under the Coffey
mineralisation to vertical depths of 300-350m
Mark Stephenson, Executive Chairman of Mila commented: "Given
the excellent results of our Stage 1 drill campaign, which returned
the highest assays received to date and defined a sizeable
mineralised zone, we are excited to get to work with our Stage 2
programme. Coffey is proving to be a standout deposit, with all the
geological signatures of a major new mineralised system, and our
focus is now to test the extent of this system by targeting the
deeper high-grade zone. With our geological team very impressed at
the extent of mineralisation uncovered during Stage 1, we can't
wait to see what Stage 2 brings."
Further Information
A Programme of Work was submitted to DMIRS in April 2022 for
regulatory approval to undertake clearing and earthworks for the
planned Stage 2 & 3 drilling activities at the Coffey Deposit
within the Kathleen Valley tenement E36/876. The POW was recently
approved and is valid for a period of 48 months and permits the
drilling of 30 diamond core holes and 60 RC drill holes within
E36/876. Heritage and Environmental surveys were also completed by
the Tjiwarl Aboriginal Corporation (Traditional Land Owners) and
Trace Ecology, who were engaged by Mila Resources ahead of the POW
approvals. A large area surrounding the Coffey Deposit has now been
approved by the Heritage survey (Figure 1) allowing Mila to
progress the next stages of drilling.
Mila has completed rehabilitation and contouring of the finished
Stage 1 RC and diamond drill sites, which will be reseeded with
native plant species by the Tjiwarl Aboriginal Rangers who are a
work group set up by the traditional landowners to assist with land
care and indigenous employment. The Tjiwarl Rangers will also
assist with monitoring the upcoming land clearing of the planned
Stage 2 drill sites to ensure land damage and flora impacts are
minimised as much as practically possible.
Earthworks are scheduled to commence next week using Bundarra
Contracting, which is owned and operated by a Tjiwarl family
member. DrillCore drilling contractors have been commissioned to
undertake an initial 2,000m of drilling, comprising of 5 deep
diamond core drill holes at Coffey as Mila step backs to the
northeast and tests the mineralised system down to a vertical depth
of around 300-350m (Figure 2). Drilling will also test the
potential of the additional lodes, which were intersected in the
last round of deeper drill holes.
Fig1: Plan view showing southwest corner of E36/876 and the
defined Coffey Mineralised Zone with completed drill collars (black
& blue dots). Planned drill holes (magenta dots) are shown
within the large Heritage Cleared Zone (800m x 420m) providing
sufficient room for considerable drilling and expansion of the
mineralisation.
Fig2: 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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