Total
0
Shares
Golden Mile Resources (ASX:G88) - Managing Director, James Merrillees
Managing Director, James Merrillees
Source: Resources Roadhouse
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Golden Mile Resources (G88) identifies 48 conductors at its Yarrambee Project in Western Australia
  • The company has ranked the conductors, which it believes have bedrock features, into three groups based on their size and potential
  • While these are only preliminary results, Golden Mile believes there’s significant potential within the project for more mineralised system discoveries
  • The company will review. the targets to support upcoming ground geophysics and drilling
  • Company shares are up 3.51 per cent and trading at 5.9 cents

Golden Mile Resources (G88) has received preliminary results from survey work undertaken at its Yarrambee Project in Western Australia.

The helicopter-borne electromagnetic (HEM) survey was flown over the Yarrambee Project, which covers prospective portions of the Narndee Igneous Complex.

After reviewing the data, Golden Mile has identified 48 bedrock conductors which have been ranked into three groups based on the extent and size of the anomalies.

Twenty three conductors have been ranked in the first group as they’re known to be clear bedrock anomalies and 20 have been ranked in the second order as they’re likely but subdued bedrock anomalies. The remaining five are potential bedrock anomalies.

Managing Director, James Merrillees, said this was an outstanding outcome of the HEM survey.

“This is an outstanding outcome from the Yarrambee EM survey with several clusters of high-order anomalies associated with the mineralised base metal system at Narndee not tested by previous explorers,” Mr Merrillees said.

“Although it’s early days, we’re very encouraged by the targets generated so far which support Golden Mile’s view there is significant potential within the Yarrambee tenement package for the discovery of additional mineralised systems.”

Golden Mile will review the preliminary targets with the final processed EM and
magnetic data that’s expected later this month. The review will allow the company to rank and prioritise targets for follow up work such as ground geophysics and drilling.

Company shares were up 3.51 per cent and trading at 5.9 cents at 3:05 pm AEST.

G88 by the numbers
More From The Market Herald

" Moho Resources (ASX:MOH) eyes $1.51m & enters agreement with Whistlepipe

Mining company Moho Resources (MOH) has completed a bookbuild to undertake a $1.51 million placement.
The Market Herald Video

" ASX debutant Eastern Metals (ASX:EMS) to develop former Kidman Resources’ projects

Eastern Metals (EMS) began trading on the ASX today after raising $6 million through its IPO.

" Desert Metals (ASX:DM1) highlights PGEs at Innouendy

Desert Metals (DM1) has identified platinum group elements (PGEs) at the Innouendy project in Western Australia.
Auroch Minerals (ASX:AOU) - Managing Director, Aidan Platel

" Auroch Minerals (ASX:AOU) to begin drilling at Ragless Range

Auroch Minerals (AOU) will begin a diamond drilling program at the Ragless Range zinc target at its Arden Project in South Australia.