Golden Mile Resources Limited (ASX:G88) Identifies High-Grade Gold Target
Discovery of Aurora Prospect
Golden Mile Resources Limited (ASX:G88) has announced the identification of a promising new gold target, the Aurora Prospect, located within the Pearl Copper Project in Arizona, USA. The reconnaissance rock chip sampling returned high-grade assays of 10.8 g/t Au and 33.9 g/t Ag, signifying a potential breakthrough for the company’s exploration efforts.
Sampling Results and Implications
The Aurora Prospect is positioned about 800 metres east of the existing Pearl Mine workings and aligns with a parallel, north-west trending fault zone. Six initial samples from brecciated, shear-hosted quartz veins returned highly anomalous results, supporting the prospectivity of the Pearl Copper Project.
In addition to Aurora, further rock chip sampling at the Ford Prospect yielded notable assays, including 0.67 g/t Au, 5.66 g/t Ag, and copper up to 4.47%. These results enhance the project’s appeal, showcasing a multi-element potential that includes significant gold, silver, copper, lead, and zinc values.
CEO Comments and Future Steps
Damon Dormer, Managing Director of Golden Mile, stated, “The discovery of the Aurora Prospect underscores the exceptional potential of the Pearl Copper Project. We are confident that additional prospects will be delineated with further regional sampling.” He also indicated that preparations for the maiden drilling program at the Odyssey and Ford Prospects are advancing well, awaiting permit approvals necessary to commence drilling work.
This upcoming drilling program aims to explore high-grade zones beneath the historical workings at Pearl and Ford, expanding on the promising results obtained from current sampling activities.
Overview of the Pearl Copper Project
The Pearl Copper Project is located in Arizona’s San Manuel mining district, which is well-known for its rich mineral resources. Golden Mile Resources has highlighted the project’s substantial yet largely unexplored potential, given its location in one of the most significant copper-producing states in the USA.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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