- Golden Mile Resources (G88) receives results from the recently completed aircore drilling program at the Leonora Gold Project in Western Australia
- Nearly 1400 metres of drilling was undertaken across the Ironstone Well and Benalla prospects to test geochemical anomalies and follow up on targets
- Overall, grades peaked at 0.68 grams of gold per tonne (g/t) gold from Benalla and 0.60 g/t gold from Ironstone Well
- Golden Mile will now undertake a strategic review of Leonora with focus on the high-grade mineralisation and untested gold targets
- Golden Mile has ended the day four per cent in the green with shares trading at 5.2 cents
Golden Mile Resources (G88) has received results from the recently completed aircore drilling program at the Leonora Gold Project.
The Leonora Gold Project lies 40 kilometres northeast and 230 kilometres north of Kalgoorlie in Western Australia.
A 1345-metre aircore drilling program was recently undertaken across the Ironstone Well and Benalla prospects.
A total of 11 aircore holes, for 635 metres, were drilled at the Ironstone Well to test geochemical anomalies coincident with the Pink Pig Shear Zone which spans more than three kilometres.
Best results include eight metres at 0.60 grams of gold per tonne (g/t) from 60 metres, four metres at 0.53 g/t gold from 60 metres; and four metres at 0.30 g/t gold from 40 metres.
A total of 16 aircore holes, for 710 metres, were drilled at Benalla to follow up on targets at Wanghi, BGT2, BGT3, Websters and Benalla Hill.
Best results include four metres at 0.68 g/t from 37 metres, four metres at 0.29 g/t gold from 45 metres, and four metres at 0.17 g/t gold from 44 metres.
Drilling at Websters was cut short due to rig issues and is considered only partly tested.
Golden Mile will now undertake a strategic review of Leonora with a focus on the high-grade mineralisation associated with the Spectrum Fault and Benalla, and untested gold targets at Ironstone Well.
Managing Director James Merrillees said Golden Mile saw opportunity for further drilling programs at Leonora, however immediate focus would be on the Yarrambee base metal project.
"While the company is encouraged by the widespread gold mineralisation intersected to date at Benalla, and the untested potential at Ironstone Well, the company's focus over the coming months will be on the Yarrambee Project and following up the outstanding copper-zinc targets identified from the recently completed airborne survey," Mr Merrillees said.
"Planning is now well advanced to source a crew to complete ground electromagnetic surveys prior to drilling on these high priority targets at Yarrambee and I look forward to providing an update on this program in the coming weeks."
Golden Mile ended the day four per cent in the green with shares trading at 5.2 cents in a $7 million market cap.