Market Herald logo


Be the first with the news that moves the market
  • Golden Mile (G88) commences its ground moving loop electromagnetic (EM) survey at its Yarrambee Project in Western Australia
  • The survey was delayed due to maintenance issues and is now expected to be completed next week
  • Results from the survey will help identify priority targets for the upcoming drilling program, expected to start next week
  • Golden Mile closed flat at 4.8 cents per share

Golden Mile (G88) has commenced its ground moving loop electromagnetic (EM) survey at its Yarrambee Copper- Zinc- Nickel Project, located in Western Australia.

The survey is following up on high potential copper, zinc and nickel targets that were found by the company’s helicopter-borne EM (HEM) survey.

Golden Mile is expecting the survey to be completed next week and that it will help define priority targets for next month’s drilling program.

The drilling program includes between 3000 to 5000 metres of reverse circulation and all approvals have been received.

Notably, the current survey experienced delays due to maintenance issues with the contractor’s transmitter.

During this delay, the company’s consultant geophysicist completed preliminary modelling of the HEM conductors. This confirmed that the majority of the potential basement conductors identified by Golden Mile have either not been tested or have been only partially tested by historical drilling.

Commenting on the EM survey is Managing Director James Merrillees.

“It’s great to have the ground EM crew out in the field surveying the highest priority bedrock conductors which we consider exciting targets for copper-zinc-nickel mineralisation,” Mr Merrillees said.

“By applying the latest geophysical technology we’ve managed to identify several targets overlooked by previous explorers as well as build upon the database already in place to develop some very exciting targets, including the ‘near-miss’ at Chi.”

Golden Mile shares closed flat at 4.8 cents each.

G88 by the numbers
More From The Market Herald
Dateline Resources (ASX:DTR) - Managing Director, Stephen Baghdadi

" Dateline Resources (ASX:DTR) completes Colosseum acquisition

Dateline Resources (DTR) has completed its acquisition of the Colosseum Gold Mine and associated permits from LAC Minerals.

" Tesoro Resources (ASX:TSO) eyes $7.3m capital raise for El Zorro

Tesoro Resources (TSO) is looking to raise $7.3 million to advance work at its El Zorro gold project in Chile.

" Investigator Resources (ASX:IVR) intersects encouraging gold and silver around Paris

Investigator Resources (IVR) has intersected encouraging gold and silver mineralisation at the Ares, Paris East and Helen East targets in Western Australia.

" Red River Resources (ASX:RVR) heats up production at Thalanga

It’s been a busy three months at Red River Resources’ (RVR) Thalanga Operation, with lead zinc and copper production all heating up.