Golden Mile Reports 29.3 g/t Gold at Aurora and 12m @ 12.41 g/t at Leonora JV

Exploration Highlights at Pearl Copper Project

Golden Mile Resources Limited (ASX, G88) has delivered promising results from its maiden drilling and sampling programs at the Pearl Copper Project in Arizona, USA. The September quarter saw the company receive high-grade gold assays from rock chip sampling at the Aurora Gold Prospect, with values reaching as high as 29.3 grams per tonne (g/t) gold, alongside notable silver and lead concentrations. These results significantly enhance the prospectivity of this newly identified target area, which is characterised by complex vein structures and historical artisanal workings.

The Aurora Prospect lies within a geologically favourable setting near a fault-bounded contact between granodiorite and volcanic formations, disrupted by shear zones that have facilitated mineral deposition. The recent assays surpass earlier results announced earlier in 2025, underscoring the potential for multi-element mineralisation. Golden Mile plans to advance exploration with detailed mapping and further geochemical soil and rock chip sampling in the December quarter to better delineate the extent of mineralisation.

Leonora Gold Joint Venture Confirms Significant Gold Intercepts

In Western Australia, Golden Mile’s Leonora Gold Joint Venture with Patronas Resources (ASX, PTN) continued to yield encouraging results. Assays from 134 aircore holes drilled at the Guppy Prospect revealed substantial gold intercepts, including a standout 12 metres at 12.41 g/t gold from 20 metres depth. Follow-up reverse circulation drilling comprising eight holes confirmed the presence of gold mineralisation with multiple intercepts above 1 g/t.

These results validate the structural targets identified through soil geochemistry and aircore drilling, supporting ongoing exploration efforts. Additional soil sampling is planned for early 2026 to refine target zones. Rock chip sampling at other JV prospects also returned high-grade gold assays, reinforcing the region’s exploration potential.

Financial Position and Corporate Developments

Golden Mile successfully completed a capital raising of approximately $490,000 through the issue of new shares at $0.006 each, with a further $21,000 pending shareholder approval. This funding is intended to support the company’s exploration programs and corporate activities. Despite increased expenditure during the quarter, driven by drilling campaigns and regulatory payments in the US, the company maintains a healthy cash balance of $390,000 at quarter-end.

Looking ahead, Golden Mile anticipates reduced exploration expenditure in the December quarter, with no drilling scheduled. The board is actively engaging with strategic investors and exploring divestment of non-core assets to strengthen its financial position and fund ongoing project development.

Strategic Outlook

Golden Mile’s projects are strategically located in established mining jurisdictions with strong infrastructure support. The Pearl Copper Project benefits from proximity to major copper mines in Arizona, a top US copper-producing state, while the Leonora JV lies within a prolific gold-producing region in Western Australia. The recent assay results and capital raise position the company well to advance its exploration objectives and unlock value from these assets.