Golden Mile Unveils Promising Maiden Drilling Results at Pearl Copper Project

Maiden Drilling Marks a Milestone at Pearl Copper Project

Golden Mile Resources Limited (ASX – G88) has taken a significant step forward in its exploration journey with the completion of its maiden Reverse Circulation (RC) drilling program at the Pearl Copper Project in Arizona, USA. This initial campaign, comprising ten drill holes totaling 1,186 meters, targeted the historically mineralised Odyssey and Ford prospects, both of which have seen limited modern exploration despite their proximity to major copper deposits.

The drilling results have delivered encouraging intercepts of copper, lead, zinc, and silver mineralisation. At the Odyssey Prospect, seven holes revealed discrete mineralised shoots with copper grades up to 2.42%, alongside notable zinc and silver values. The Ford Prospect, with three holes drilled, showed broader zones of lead-dominant mineralisation, including a standout 7.32-meter intercept grading 3.8% lead. These findings suggest mineralisation remains open at depth, warranting further exploration.

Strategic Location and Geological Context

Situated in Arizona’s San Manuel mining district, the Pearl Copper Project benefits from its location within the prolific Laramide Porphyry Copper Province, a key contributor to the United States’ copper output. The project’s proximity to BHP’s San Manuel-Kalamazoo Mine underscores its potential, while the region’s established infrastructure and mining-friendly jurisdiction add to its appeal.

Golden Mile’s exploration approach combines historical data with modern geophysical targeting, aiming to refine drill targets and delineate primary sulphide mineralisation beneath the oxide zones. The company plans to expand surface exploration, including detailed mapping and sampling, to identify additional targets such as the recently discovered Aurora Gold Prospect.

Progress at Leonora Gold Joint Venture and Corporate Highlights

In Western Australia, Golden Mile’s Leonora Gold Joint Venture with Patronus Resources has completed an extensive aircore drilling program, with 344 holes totaling over 11,600 meters drilled across multiple prospects. Assay results are pending, but early indications from soil anomalies and historic workings suggest promising gold potential.

On the corporate front, Golden Mile received $379,066 from the Australian Taxation Office as part of the 2024 Research and Development Tax Incentive, linked to its Quicksilver Nickel-Cobalt Project. The company maintained a disciplined financial approach with no capital raisings during the quarter and reported payments of $107,000 to related parties, primarily directors and management.

Looking Ahead

Golden Mile is poised to build on its maiden drilling success with plans for further geophysical surveys and targeted drilling to better define the extent and grade of mineralisation at Pearl. The pending assay results from Leonora will also be closely watched as they could add significant value to the company’s portfolio. As Golden Mile advances its exploration strategy, investors will be keen to see how these early-stage results translate into resource growth and project development.