Mila Resources PLC (LSE:MILA)’s chief geologist hailed the first drilling results from its Kathleen Valley project in Australia as some of the “best he had seen” in thirty years of mining.
“This has to be one of the most consistent and best overall gold intersections I've seen in my 30-year career, said Neil Hutchison.
“The top of the mineralisation is only 150m vertically below surface, which is shallow compared to neighbouring gold deposits and WA in general.”
Mila said the best of the intersections was 10m at grades of 8.38g/t gold and 13.96 g/t silver.
“This 10m wide zone of mineralisation comprises no internal waste, with all grades reporting above 3.5g/t Au and having multiple +10g/t Au & Ag grades within individual meter zones, Hutchison added.
“This style of high-grade quartz-sulphide bearing mineralisation is now starting to look similar to the Bellevue [mine] mineralisation to the south."
Executive director Mark Stephenson added this intersection, in particular, was “an early Christmas present for the team, particularly given that it gives a strong indication that the deposit will improve at depth”.
Mila is carrying out a 40-hole drill programme at Kathleen Valley, with these assays from the first eleven drilled into the Coffey deposit.
Hutchison added: "At Coffey, this is the first time the mineralised zones have contained abundant quartz veining within the sulphide and alteration zones, demonstrating this high-grade mineralisation is associated with a fundamental change in the structural geology of the deposit."
Mila has a 30% stake in the Kathleen Valley project.