Mila Resources confirms continuous gold system at Yarrol as drilling moves toward maiden resource

Mila Resources (LSE:MILA) has released the final assay results from its diamond drilling campaign carried out in the fourth quarter of 2025 at the Yarrol Gold Project in Queensland. The results confirm a gold system that remains continuous both laterally and at depth, with broad mineralised zones containing higher-grade shoots within them. Multi-element geochemical analysis—particularly the association of arsenic and tellurium—has helped identify vectors pointing toward the higher-grade cores and supported the development of a consistent geological model extending from surface downwards.

In addition, the company completed a 1,600-metre reverse circulation drilling programme during the first quarter of 2026. This brings the total drilling across Mila’s Queensland portfolio to nearly 5,000 metres as the company works toward establishing a maiden mineral resource. The confirmed continuity and scale of the mineralisation at Yarrol, along with defined higher-grade zones, provide a stronger basis for extending drilling along strike and progressing resource delineation. The project also forms part of a broader exploration strategy that includes the Mt Steadman and Monal assets.

Mila’s outlook remains constrained by weak financial fundamentals typical of early-stage exploration companies, including the absence of revenue, ongoing operating losses and negative free cash flow. Technical indicators are also bearish, with the share price trading below key moving averages and showing a negative MACD signal. However, the company maintains a low-debt balance sheet and an equity base that provides some financial stability, although valuation support remains limited due to negative earnings and the absence of a dividend.

More about Mila Resources

Mila Resources is a London-listed natural resources company focused on post-discovery gold exploration in Queensland, Australia. The group is advancing a portfolio of projects including the Yarrol Gold Project, positioning itself as an exploration-driven company targeting scalable gold assets with the potential for future development.