Source: Golden Mile Resources
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Golden Mile Resources (G88) to launch an aircore drill program at its Yuinmery Project in Western Australia
  • The 150-hole program will test the Elephant Reef, Ladies Patch, Grey Beard and Hammerhead gold geochemical targets
  • Drilling is planned to begin around mid-May once the drilling contractor mobilises to site
  • Further drilling of the remaining gold-in-soil geochemical targets will be mapped out once the next budget allocation for the project is finalised in the coming weeks
  • Golden Mile Resources drops 15.4 per cent, trading at 5.5 cents

Golden Mile Resources (G88) is set to launch an aircore drill program at its wholly-owned Yuinmery Project in Western Australia.

The project is in the Youanmi Gold Mining District, around 10 kilometres east of the Youanmi gold mine, where several gold discoveries were recently unearthed.

The 150-hole program will test the Elephant Reef, Ladies Patch, Grey Beard, and Hammerhead gold geochemical targets. The holes will aim to test the in-situ oxide of the area, and the bottom of the oxidation.  

Limited historical drilling results intersections of the area including five metres at 1.49 grams of gold per tonne (g/t) from surface and five metres at 0.28 g/t gold from five metres.

The Yuinmery Project contains approximately nine kilometres strike length along the Yuinmery fault, a major northwest trending structure which may also be a major gold fluid pathway.  

Drilling is planned to begin around mid-May once the drilling contractor mobilises to site.

Further drilling of the remaining gold-in-soil geochemical targets will be planned when the next budget allocation for the project is finalised in the coming weeks.  

Golden Mile Resources dropped 15.4 per cent, trading at 5.5 cents at 1:01 pm AEST.       

G88 by the numbers
More From The Market Herald
Countplus (ASX:CUP) - Incoming CEO, Hugh Humphrey

" Hugh Humphrey appointed CEO of Countplus (ASX:CUP)

Investment services company CountPlus (ASX:CUP) has appointed Hugh Humphrey as the company's CEO, effective July 1.

" ASX employee tests positive for Covid-19

The ASX says an employee has contracted Covid-19.

" ASIC launches official investigation into ASX market outage

The ASX has confirmed today it is officially under investigation from the Australian Securities and Investments…

" ASX sheds more light on last week’s market tech failure

The Australian Securities Exchange has shed some more light on the nature of last week's market…