Mila Resources Plc (LSE:MILA) has released encouraging assay results from the first of six diamond drill holes at the Yarrol deposit within its Queensland Gold and Copper Portfolio. The findings confirm the presence of an extensive and well-developed mineralised system, including notable gold intercepts that support the company’s geological model and point to meaningful resource growth potential. These early results strengthen confidence in the scale and grade of the deposit and mark an important step toward future exploration and resource estimation efforts.
Although Mila Resources continues to face financial pressures, including losses and cash burn, recent drilling success at the Yarrol Gold Project introduces potential upside. Technical indicators reflect some short-term positive momentum, though the valuation remains constrained by negative earnings and the absence of a dividend, keeping investor sentiment cautious.
More about Mila Resources
Mila Resources Plc is a mineral exploration company dedicated to advancing post-discovery assets in the natural resources sector. Listed on the London Stock Exchange, the company is focused on the exploration and development of gold and copper systems, with its principal activity centred on the Queensland Gold and Copper Portfolio.
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