Mila Resources identifies copper-gold drill targets at Queensland project

Mining Gold & Silver Written by: Ian Lyall 07:30 Thu 20 Aug 2026 --> Disclaimer No investment advice About this content Editorial Standards & Policies Share article About this content × About Ian Lyall Ian Lyall, a seasoned journalist and editor, brings over three decades of experience to his role as Managing Editor at Proactive. Overseeing Proactive's editorial and broadcast operations across six offices on three continents, Ian is responsible for quality control, editorial policy, and content production. He directs the creation of 50,000 pieces of real-time news, feature articles, and filmed interviews annually. Prior to Proactive, Ian helped lead the business output at the Daily... Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. Use of technology Proactive has always been a forward looking and enthusiastic technology adopter. Our human content creators are equipped with many decades of valuable expertise and experience. The team also has access to and use technologies to assist and enhance workflows. Proactive will on occasion use automation and software tools, including generative AI. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. Mila Resources PLC ( LSE:MILA ) View Price & Profile Mila Resources identifies copper-gold drill targets at Queensland project Published: 07:30 20 Aug 2026 BST Mila Resources PLC (LSE:MILA) , the gold and copper development company focused on Australia, has identified compelling drill targets for potential copper and gold mineralisation at its Monal project in south-eastern Queensland. The targets emerged from induced polarisation surveys, a geophysical technique that maps buried mineral zones by measuring how rocks hold and release electrical charge. At the project's Basilica prospect, the surveys revealed a signature consistent with a porphyry system, a type of large, disseminated copper-gold deposit formed around cooling intrusions of molten rock. Modelling showed a chargeability halo surrounding a deeper zone interpreted as potentially sulphide-bearing, a pattern the company reads as pointing to mineralisation between 200 and 300 metres down. Rock chip samples taken at surface directly above that anomaly returned grades of up to 0.72 grams of gold per tonne, 1.77% copper and 51 grams of silver per tonne. The company said these came from quartz veins containing visible copper and iron sulphides, which its technical team views as a surface expression of the deeper target. A second target, the Childs prospect, produced a compact, ring-shaped chargeability high consistent with a discrete buried source. Childs lies roughly 10 kilometres from the Mount Cannindah deposit, which holds a defined resource of 14.5 million tonnes at 1.09% copper equivalent, within the same regional structural corridor. Both prospects sit around the margins of the Late Triassic Glassford Complex, an area already host to several known porphyry systems. Executive director Mark Stephenson said the results had strengthened the company's view of the project's potential for multiple near-surface porphyries across the wider licence. He added that the targets sat within a proven mineralised district and added meaningful value to Mila's broader Queensland portfolio. The company said it intended to advance the targets, though it did not give a timetable for drilling. Continue reading