Golden Mile (ASX:G88) has announced it will be ditching its Marble Bar and Murchison tenements after fieldwork indicated no real point in drilling.
At Marble Bar, the company conducted a sampling program collecting 120 samples from stream sediment. A review of that data showed “weak metal anomalism” and the company has decided to forego any further activity on-site.
At Murchison, it’s a similar story. A field evaluation was carried out on-site the E20/1005 permit; that included outcrop spotting and subsequent rock chip sampling.
To the company’s disappointment, Murchison has come up a duster as well.
“As a result of these project reviews, the Board has made the decision to relinquish the Marble Bar and Murchison tenements,” Golden Mile wrote on Friday.
“This entails the surrender of granted exploration licences E45/6210, E45/6211 and E20/1005, and the withdrawal of Exploration Licence Application ELA45/6709.”
Golden Mile will now turn its attention towards a US-based JV-led asset in Arizona – the Pearl Copper Project.
G88 last traded at 1cps.