Golden Mile’s Pearl Copper Drilling Permits Secured Amid High-Grade Gold Finds

Pearl Copper Project: A New Chapter Begins

Golden Mile Resources Limited (ASX: G88) has announced a significant milestone in its exploration journey with the imminent commencement of its maiden drilling program at the Pearl Copper Project in Arizona, USA. This program, comprising 14 to 16 reverse circulation (RC) holes totaling up to 1,800 metres, will focus on the Odyssey and Ford prospects, both historically mined but never previously drilled by Golden Mile.

The Pearl Copper Project is strategically located within the prolific Laramide Porphyry Copper Province, a region responsible for about 70% of US copper production. Adjacent to the world-class San Manuel-Kalamazoo Mine, the project benefits from a proven metallogenic environment that has historically yielded substantial copper resources.

Aurora Prospect: A Promising Gold Discovery

Adding to the excitement, Golden Mile has identified a new gold target within the Pearl Project, the Aurora Prospect. Recent reconnaissance mapping and rock-chip sampling have returned impressive gold grades, with assays reaching up to 10.8 g/t Au and 8.93 g/t Au. Notably, historic sampling at Aurora had focused on base metals, leaving gold largely untested until now.

The Aurora Prospect features a network of shear-hosted epithermal veins exhibiting textures and mineralisation indicative of significant hydrothermal activity. The presence of pervasive iron staining and brecciation suggests oxidation of sulphide minerals, reinforcing the prospect's potential. Additionally, a remarkable historic silver assay of 283 g/t Ag was recorded nearby, hinting at a broader polymetallic system.

Permitting and Operational Readiness

Golden Mile has successfully navigated the regulatory landscape, securing a Notice of Intent from the US Bureau of Land Management (BLM), a critical federal-level permit that clears the way for drilling. Following this, the company obtained the Special Land Use Permit and Geological Field Operations Plan, enabling the maiden drill program to proceed without delay.

While initial contracting delays due to state land department scheduling conflicts led to a change in drilling contractors, from Alford Drilling to Harris Drilling of Nevada, the company is now poised to execute its exploration plans efficiently.

Financial Position and Joint Venture Progress

On the financial front, Golden Mile raised $619,554 during the quarter, completing prior placements totaling $1.33 million. These funds bolster the company’s capacity to advance exploration activities across its portfolio.

Beyond Arizona, exploration continues at the Leonora Gold Joint Venture in Western Australia, where assays from recent auger programs returned no significant results this quarter. Similarly, at the Gidgee JV Project, a comprehensive airborne magnetic survey has been completed, and a 2,016-sample geochemical program awaits assay results, setting the stage for future exploration initiatives.

Looking Ahead

Golden Mile’s maiden drilling at Pearl Copper represents a critical test of its exploration thesis in a globally significant copper-gold province. The high-grade gold assays at Aurora add a compelling dimension to the project’s potential, suggesting that the company’s strategic focus on polymetallic systems could yield substantial rewards.

Investors and analysts will be watching closely as drilling results emerge, potentially unlocking value and informing the next phase of development for Golden Mile Resources.