Golden Mile Resources (ASX:G88) Abandons Marble Bar and Murchison Tenements Following Disappointing Fieldwork Results

2 min read | August 15, 2024 04:57 PM PDT | By Team Kalkine Media

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Golden Mile Resources (ASX:G88) Abandons Marble Bar and Murchison Tenements Following Disappointing Fieldwork Results — Image source: Shutterstock

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Highlights:

Exploration Abandonment: Golden Mile Resources (ASX:G88) has decided to relinquish its Marble Bar and Murchison tenements due to disappointing fieldwork results showing weak metal anomalies.

Surrender of Licenses: The company will surrender exploration licenses E45/6210, E45/6211, and E20/1005, as well as withdraw Exploration Licence Application ELA45/6709.

Focus Shift to U.S.: Following the termination of these projects, Golden Mile will concentrate its efforts on the Pearl Copper Project in Arizona, a joint venture-led asset in the U.S.

Golden Mile Resources (ASX:G88) has announced its decision to relinquish its Marble Bar and Murchison tenements following disappointing fieldwork results. The company had undertaken a sampling program at Marble Bar, collecting 120 stream sediment samples. However, the review of the data revealed only "weak metal anomalism," leading the company to conclude that further exploration was unwarranted.

A similar outcome was observed at the Murchison tenement, where field evaluations, including outcrop assessments and rock chip sampling on the E20/1005 permit, failed to yield promising results. The underwhelming findings have prompted Golden Mile to abandon its exploration efforts at both sites.

In a statement released on Friday, the company confirmed the surrender of granted exploration licenses E45/6210, E45/6211, and E20/1005, along with the withdrawal of Exploration Licence Application ELA45/6709.

With the termination of these projects, Golden Mile will now focus on advancing its joint venture-led Pearl Copper Project in Arizona, shifting its exploration efforts to the U.S.

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