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Golden Mile Resources makes Arizona Copper Project Joint Venture-Acquisition

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THE BOURSE WHISPERER: Golden Mile Resources (ASX: G88) announced a Joint Venture-acquisition agreement over the Pearl copper project located in Arizona, US of A.

Golden Mile Resources stuck the agreement with Outcrop Silver & Gold Corporation after completing a tour of due diligence, which it said confirmed very high prospectivity of the project area for company-making copper resources.

From its initial field reconnaissance, the company delineated multiple targets within the project area that highlighted near-term drill, and company making potential, of the Odyssey and Ford prospects.

The Odyssey prospect is a sub outcropping multiple vein copper target where surface mineralised widths up to five metres and a strike length of around 800 metres has been mapped.

This prospect historic artisanal workings at the Pearl project where historical records indicate around 60,000 of ore containing copper oxide and sulphide, lead, silver, and gold was produced from 1915 to 1941.

The Ford prospect is a circa 1940s copper-zinc development.

Historic data indicates grades up to 10.6 per cent copper, 31.3 per cent lead and 0.54 ounces (16.7g/t) gold.

There is no historic record or field evidence that either prospect has ever been drilled.

“The completion of due diligence has reinforced our belief in the Pearl copper project as a potential game-changer for the company,” Golden Mile Resources managing director Damon Dormer said in the company’s ASX announcement.

“Our initial field reconnaissance has already identified two advanced targets, which, if they were in Australia, would have been heavily drilled by now.

“The fact that both the Odyssey and Ford prospects remain undrilled, despite showing all the surface characteristics of major mineralised systems, presents Golden Mile with a fast-tracked opportunity to make a significant copper discovery.

“Located within the world-class Laramide Porphyry Copper Belt, which hosts numerous significant deposits and mines, the Pearl project’s exploration potential is substantial.

“With due diligence complete and the formal agreement in place, we are eager to commence work on this promising exploration venture.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Golden Mile Resources managing director Damon Dormer

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Golden Mile Resources (ASX: G88) managing director Damon Dormer dropped into The Roadhouse to bring us up to speed on the company’s recent activities.

recently developed a new Process Flowsheet for the company’s 100 per cent-owned Quicksilver nickel-cobalt deposit, located near Lake Grace approximately 300km southeast of Perth in Western Australia.

Golden Mile Resources Investigation Reveals Quicksilver Cobalt Potential

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THE DRILL SERGEANT: Golden Mile Resources (ASX: G88) has been investigating high-grade cobalt results achieved from Stage Three Metallurgical testwork undertaken at the company’s 100 per cent-owned Quicksilver nickel-cobalt deposit near Lake Grace in Western Australia.

Golden Mile Resources has been reassessing its project portfolio, with priority on the Quicksilver Mineral Resource Estimate (MRE).

The company completed a high-level geological review, which included data validation and reinterpretation of the project.

This work is in its advanced stages and results deemed critical by the company in in any advancement to next phases of drilling at Quicksilver.

The geological reinterpretation is providing Golden Mile with insight into the potential controls on both the nickel and cobalt mineralisation.

Efforts thus far have identified a high-grade cobalt domain within the existing cobalt Mineral Resource.

Stage Three metallurgical testwork has demonstrated this high-grade cobalt domain may be amenable to upgrading via wet scrubbing, screening, and gravity separation, with concentrate grades of up to 0.85 per cent cobalt achieved.

“The upgrading of the cobalt has the potential to provide an additional high-grade concentrate to Quicksilver which is separate to the high-grade nickel bearing vermiculite and the magnetite iron concentrates,” Golden Mile Resources managing director Damon Dormer said in the company’s ASX announcement.

“The cobalt domain is extensive and with it positioned on the interface of upper and lower saprolite horizons means it effectively sits at the top of the nickel laden saprolite.

“The ability to domain this zone for the updated Mineral Resource Estimate (MRE) will enable the value of this concentrate to be captured in the scoping study.

“The metallurgical testwork is showing that cobalt containing minerals within certain size fractions can be preferentially separated to a gravity concentrate.

“While there is more work to do there is the opportunity that this cobalt rich domain could be mined in conjunction with the nickel laden saprolite with separation into the concentrates occurring in the plant.

“The separation of a high-grade cobalt concentrate should effectively have minimal additional mining cost as the cobalt rich zone is mined on the way to the high-grade nickel zones below.

“Should a simple gravity separation step prove effective the recovery of a high grade cobalt concentrate would be expected to incur only an incremental processing costs.

“The value of additional high-grade concentrates cannot be understated in insulating the project from adverse market conditions and it’s on the back of excellent geological and metallurgical work that has been carried out over the previous 12 months.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Golden Mile Resources (ASX: G88) managing director Damon Dormer

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Golden Mile Resources (ASX: G88) managing director Damon Dormer zoomed in to visit Wally Graham of The Resources Roadhouse to simplify the complexities of the company’s vermiculite-hosted nickel discovery at the company’s Quicksilver nickel-cobalt deposit in Western Australia.

Golden Mile Resources Encounters Further Nickel Cobalt at Quicksilver

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THE DRILL SERGEANT: Golden Mile Resources (ASX: G88) reported an encounter with oxide nickel and cobalt mineralisation via recent reverse circulation (RC) drilling at the company’s 100 per cent-owned Quicksilver nickel-cobalt deposit in Western Australia.

Golden Mile Resources recently completed seven exploration RC drill holes, from which it has gained a better understanding of the potential source of nickel beneath the project’s existing nickel-cobalt oxide Resource.

Highlights of the drilling include:

23QRC0169
17 metres at 0.81 per cent nickel from 46m depth and 21m at 0.89 per cent nickel from 78m depth, including 2m at 2.03 per cent nickel from 80m depth 6m at 1.16 per cent nickel from 85m depth and 2m at 1.1 per cent nickel from 94m depth;

23QRC0172
24m at 0.81 per cent nickel from 60m depth, including 11m at 1.02 per cent nickel from 68m depth and 13m at 0.105 per cent cobalt from 60m depth, including 6m at 0.142 per cent cobalt from 62m depth;

23QRC0171
10m at 1.23 per cent nickel from 96m depth and 8m at 0.07 per cent cobalt from 97m depth, including 3m at 0.104 per cent cobalt from 98m depth;

23QRC0170
21m at 0.063 per cent cobalt from 31m, including 2m at 0.139 per cent cobalt from 35m depth and 1m at 0.153 per cent cobalt from 47m depth; and

23QRC0174
8m at 0.167 per cent cobalt from 19m depth, including intercepts up to 0.679 per cent cobalt.

“These results add further confidence in the potential for Quicksilver as a growing nickel Resource, utilising the existing oxide resources but also potentially primary nickel mineralisation within a fertile ultramafic protolith,” Golden Mile Resources managing director Damon Dormer said in the company’s ASX announcement.

“The ongoing analysis of the significant data collected to date reinforces the potential of high-grade zones which would add further value uplift from these metallurgical opportunities.”

Golden Mile has begun planning and designing an orientation drill program to confirm the positioning of the high-grade nickel seams within the deposit, which it explained is the first step of a staged scoping study.

Timings of the study program will be released upon confirmation of the drill program schedule, enabling the company to design an optimal infill drill program, ensuring the most comprehensive data set is obtained for updating the Resource, and developing a conceptual mine design and economic evaluation.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Golden Mile Resources Completes RC Drilling at Yuinmery

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THE DRILL SERGEANT: Golden Mile Resources (ASX: G88) has completed a RC drilling program at the company’s 100 per cent-owned Yuinmery gold project in Western Australia.

Golden Mile Resources completed a total of 5 RC drillholes for 1085m, which it claims to have confirmed that the Yuinmery setting is a structurally complex area comprising of basalt, dolerite and ultramafic with associated moderate to strong hydrothermal alteration, quartz – carbonate veining, quartz stringers and stockwork veining.

Golden Mile’s stated plan for Yuinmery is to conduct a consolidated work program to progress numerous targets it had identified via previous aircore drilling, aeromagnetic data and an internal Yuinmery review conducted in May 2023.

The program has been designed to drill high priority targets supported by gold mineralisation from previous drilling and strong soil anomalies.

The program will also refine targets through higher density soil sampling program.

“The completion of the initial drill program marks a significant milestone for Yuinmery and will provide important insights into the structural setting,” Golden Mile Resources managing director Damon Dormer said in the company’s ASX announcement.

“We will now progress into the soil sampling program which will enable further targets to be refined for this project.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE