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Highlights
Queensland Gold Portfolio: Completion of ground magnetic survey at Yarrol and planning for maiden drilling campaign.
Kathleen Valley Gold & Lithium Projects: Collaboration with Liontown on exploration campaigns at Kathleen Valley, focusing on lithium prospects.
Mila Resources Plc (LSE:MILA), a post-discovery exploration accelerator, has provided an update on its exploration progress in 2024 and outlined plans for the first half of 2025. The Company has focused its activities on its Queensland Gold Portfolio and the Kathleen Valley Gold & Lithium Projects, with significant advancements and future goals highlighted in the update.
Queensland Gold Portfolio
Mila’s Queensland Gold Portfolio, which gained new momentum following a 2024 transaction with EMX Royalty Corporation, has seen extensive groundwork, including the identification of priority gold, copper, and base metal targets. In 2025, Mila plans to move forward with a maiden drilling campaign at the Yarrol property to upgrade historic resource estimates and explore new extensions of known mineralisation.
Key activities for the Queensland Gold Portfolio include:
- Ground Magnetic Survey at Yarrol: Commenced in December 2024, the survey aims to refine structural definitions for gold mineralisation, and its results will guide future drilling efforts.
- Drilling Plans: Plans are in place to move forward with infill drilling to bring the historic resource up to JORC compliance and expand exploration along a 7 km prospective area.
- Mt Steadman and Monal: Mila is conducting desktop studies on these properties, with future work deferred to align with capital allocation strategies.
Kathleen Valley Gold & Lithium Projects
In Kathleen Valley, Mila is advancing exploration through a partnership with Liontown Resources, with a scouting campaign conducted in late 2024. The collaboration has confirmed the presence of lithium, tin, and tantalum-rich zones, supporting further exploration of LCT-pegmatite systems.
Key highlights from the Kathleen Valley projects include:
- Lithium Exploration Focus: The priority is on advancing lithium prospects, with gold exploration set to remain secondary in the near term, consistent with Mila’s capital allocation strategy.
- Ongoing Collaboration: The Mila team is maintaining close coordination with Liontown to assess exploration results and further develop the Kathleen Valley resource potential.
