Golden Mile Unveils High-Grade Assays and Expands Arizona Drill Program

Exceptional Assay Results at Pearl Copper Project

Golden Mile Resources Limited (ASX: G88) has delivered a compelling update on its Pearl Copper Project in Arizona, USA, revealing outstanding rock chip assay results from initial field evaluations at the Odyssey and Ford prospects. The assays returned remarkable grades including silver up to 930 g/t, copper exceeding 15%, zinc reaching nearly 25%, and significant lead values, underscoring the polymetallic potential of the project.

These results build on earlier findings and highlight the project's location within the prolific Laramide Porphyry Copper Province, a region responsible for approximately 70% of US copper production. The proximity to the historic San Manuel-Kalamazoo Mine, which produced around 1 billion tonnes at 0.7% copper, further enhances the project's strategic importance.

Expanded Drilling Program and Permitting Progress

In response to the encouraging assay results and promising geological mapping, Golden Mile has expanded its maiden drilling program to encompass both the Odyssey and Ford prospects. The Ford Prospect, in particular, revealed an intensely altered eight-meter-wide fault zone with visible malachite mineralisation and copper values up to 13.4% from pXRF readings.

The company has submitted modified permit applications to accommodate the expanded drill program, targeting commencement in early 2025. This strategic move aims to thoroughly test the primary targets and accelerate the exploration timeline.

Corporate Developments and Funding

Golden Mile has established a wholly owned US subsidiary, Gila Metallica LLC, to streamline its North American operations and facilitate business activities in the region. This structural step aligns with the company's focus on advancing its Arizona assets.

Financially, the company secured firm commitments totaling $1,330,250 through two placements and subscriptions, including $234,000 from directors and management. Funds received during the December quarter amounted to approximately $612,000, with the balance expected in the current quarter, providing a solid foundation to support exploration and drilling expenditures.

Ongoing Exploration and Strategic Focus

Beyond Arizona, Golden Mile continues to advance its Quicksilver Nickel-Cobalt Project in Western Australia, where hyperspectral logging of drill chip samples is refining the geological and mineralisation model. The company also maintains joint ventures and exploration interests in the Leonora Gold JV and Gidgee JV projects, focusing on gold and base metals.

While no new acquisitions were made this quarter, due diligence on potential North American and Canadian assets remains a priority, reflecting Golden Mile's strategic objective to build a diversified portfolio of core assets.