Join our daily newsletter At The Bell to receive exclusive market insights
- Golden Mile Resources (G88) finds new targets at its Yarrambee project after completing a moving loop electromagnetic (MLEM) survey
- One of the targets, known as ‘Tank’, has been identified as a highly conductive zone and will be one of the main priorities in follow-up drilling
- Between 2000 and 3000 metres of reverse circulation drilling will begin later this month as the company begins setting up the process
- Golden Mile Resources is up 3.85 per cent to trade at 5.4 cents
Golden Mile Resources (G88) has found new drilling targets at its Yarrambee project after completing a ground-based moving loop electromagnetic (MLEM) survey.
G88’s Yarrambee site is approximately 500 kilometres from Perth and sits within the Murchison region of Western Australia.
One of the targets, called ‘Tank’, was identified as a highly conductive zone and has since been prioritised for follow-up reverse circulation (RC) drilling.
Tank previously presented itself as having a weak anomalous reading in the airborne survey but G88 geologist later said it “could be related to the high conductance of the anomaly as well as the depth to the top of the conductor.”
Golden Mile’s Managing Director James Merrillees said identifying that the conductor is linked to the basement features validated the company’s original airborne survey.
“Golden Mile’s team are now in the field to ground truth, map and sample these targets
including clearing sites for the upcoming drill program,” he said.
“Although it’s still early days for Golden Mile at Yarrambee, we continue to be excited by the quality of the targets identified so far and look forward to the drill rig testing these over the coming month.”
The RC drilling program will include between 2000 and 3000 metres and is expected to begin later this month.
Golden Mile Resources was up 3.85 per cent to trade at 5.4 cents at 3:48 pm AEDT.
