MIL receives final Golden Peak drilling results

THE DRILL SERGEANT: MIL Resources has reported further results from drilling carried out on its Golden Peak project, located 40 kilometres east of Port Moresby in Papua New Guinea.

Previous results included:

–    20 metres at 8.5 grams per tonne gold and 10.9 grams per tonne silver from 44.4 metres, Including 1 metre at 154.0 grams per tonne gold and 207.0 grams per tonne silver from 47.4 metres.

Recently received results include:

–    18.7m at 0.22g/t gold from 40.3m;

–    31m at 0.97g/t gold from 59.0m, Including 1m at 11.0g/t gold from 75.0m; and

–    25m at 0.15g/t gold from 90m.

MIL said the results from one of the holes indicated 74.2m (not including 0.5m core loss) of mineralisation was intersected continuously down the hole from 40.3m.
 
They also demonstrate mineralisation to be open along strike, while the drilling has confirmed depth continuity to the high-grade mineralisation, which also remains open.

Two copper in soil geochemical anomalies remain untested, however, a ground magnetics orientation survey has confirmed the suitability of this technique to identify sub-surface mineralisation at Golden Peak.

 

Copper in soil anomaly, trench and drill hole locations at Golden Peak. Source: Company announcement

 

MIL claims the magnetic anomaly extends the drill intersected mineralisation a further 80m to the south east of the hole that provided the earlier results.

The company said this remains open to the north-west, and supports the subsurface presence of mineralisation below the previously reported trench assays.

“The results reaffirm our belief that the system at Golden Peak is potentially substantial, and that there are now additional incentives to explore further due to the high grades from drilling and untested targets,” MIL Resources chairman Doug Halley said in the company’s announcement to the Australian Securities Exchange.