Mila Resources (LSE:MILA) has announced the completion of its diamond drilling program at the Yarrol Gold Project in Queensland, with early indicators pointing to strong potential upside. Speaking on The Watchlist, Chief Operating Officer Alastair Goodship shared insights into the company’s latest exploration progress and what investors can expect next.

“The best place to find a deposit is under an existing one,” said Goodship. “Our goal was to test to depth beneath the historic resource area and carry out more rigorous validation of our deposit model. The indicators we’re seeing from the field are very promising.”

The recently completed diamond drilling program intersected the same host rock with disseminated sulfides seen in the earlier RC drilling campaign — this time down to depths of nearly 300 metres, well below the 80-metre base of the historic resource area. According to Goodship, these results strongly support the company’s view that Yarrol could host a much larger mineralised system than previously recognised.

With the diamond program complete, attention now turns to the next phase of RC drilling. “We’re still refining our understanding of Yarrol — whether it’s a focused high-grade deposit or a larger, lower-grade system,” Goodship explained. “Both deposit types exist in the region. The upcoming RC drilling will provide the data we need to decide which model fits best.”

The next campaign will combine data from both RC and diamond holes to refine the deposit model further. Mila also plans “drill-to-kill” work to define the boundaries of mineralisation and determine the most prospective zones for future exploration. “Every hole we’ve drilled so far has hit,” Goodship said. “That gives us confidence to expand with the next RC program and better define the mineralisation’s shape.”

Investors can expect several key milestones in the coming months, including assay results from both the diamond and RC programs. “For keen investors, pay attention to where we’re finding the gold — the depths and along strike,” Goodship advised. “They can probably start doing their own calculations from that.”

Importantly, Phase 2 exploration remains on budget — a testament to Mila’s disciplined capital management approach. “Our focus is on maximising ounces discovered per dollar spent,” Goodship noted. “The team is incentivised on results, not big salaries, which helps us stay lean, efficient, and focused on value creation.”

As Mila Resources continues to build momentum at Yarrol, shareholders will be closely watching the next round of results and updates. For more information on the company’s projects and exploration plans, visit milaresources.com

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