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Golden Mile Resources Limited (“Golden Mile”; “the Company”; ASX: “G88”) is pleased to present its Quarterly Report for the period ending 30 September 2024.
COMPANY HIGHLIGHTS
Pearl Copper Project, Arizona, USA
- Golden Mile completed due diligence on the Pearl Copper Project and entered into a joint venture-acquisition agreement with Outcrop Silver & Gold Corporation
- Project adjacent to the super-giant San Manuel-Kalamazoo porphyry copper-molybdenum deposit
- Odyssey and Ford prospects identified within the Project as immediate highly prospective, exploration drill targets
- Rock chip sampling at the Odyssey prospect returned exceptional assay results:
- Silver assays up to 930 g/t
- Copper assays up to 10.05%
- Zinc assays up to 8.09%
- Mineralisation at the Odyssey prospect is visible at the surface with a strike length of >800m and includes multiple NNW trending extensional veins
- Historic data at the Ford prospect indicates grades up to 10.6% copper, 31.3% lead and 0.54oz (16.7 g/t) gold.
Corporate
- Appointment of Company Secretary Mr Justyn Stedwell, who has over 17 years’ experience as a Company Secretary of ASX listed companies
PEARL COPPER PROJECT (PEARL), ARIZONA, USA (G88 Earn In)
Pearl is located within a world-class mining jurisdiction of the Laramide Porphyry Copper Province within the Southwestern North American Porphyry Copper Province. This is the principal metallogenic province of the United States (US) accounting for approximately 70% of total US copper production.
Figure 1: Significant Copper Mines and Projects in Arizona USA
The Project is adjacent to the world class San Manuel-Kalamazoo Mine, with historic production of approximately 1Bt @ 0.7% Cu. Many other deposits occur in the greater area around the Project, with Arizona being host to some of the world’s largest copper discoveries.
During the Quarter, Golden Mile completed its due diligence on the Pearl Copper Project and entered into a joint venture-acquisition agreement with Outcrop Silver & Gold Corporation (“Outcrop”) 2.
A field trip, undertaken as part of the due diligence, confirmed the very high prospectivity of the project area for company-making copper resources. This field examination, undertaken in late July, and while only preliminary in nature, delineated the Odyssey and Ford prospects within the Pearl project area as immediate, highly prospective, exploration drill targets.
Click here for the full Quarterly Appendix 5B Cash Flow Report
Click here for the full ASX Release
This article includes content from Golden Mile Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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