Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Golden Mile Resources Ltd. ( (AU:G88) ) has provided an announcement.
Golden Mile Resources has signed a binding joint venture term sheet to earn up to a 95% interest in the Leviathan Porphyry Copper-Molybdenum Project in Mohave County, Arizona, by spending A$3 million. The project, hosted on patented claims, sits over the western margin of a quartz-monzonite porphyry displaying key features of a major porphyry copper system, including stockwork quartz-molybdenite-chalcopyrite veins and extensive hydrothermal alteration.
Historic underground mining on the Leviathan vein in the 1920s reportedly produced copper and molybdenum at around 1% grades, and recent due diligence sampling has returned copper values up to 4.2% and strong molybdenum assays. With no evidence of modern systematic exploration and permitting potentially streamlined by the patented claims, Golden Mile plans to fast-track exploration starting in late April with stream and rock-chip sampling across multiple vein systems, potentially enhancing its exposure to U.S. copper and molybdenum supply.
The most recent analyst rating on (AU:G88) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Golden Mile Resources Ltd. stock, see the AU:G88 Stock Forecast page.
More about Golden Mile Resources Ltd.
Golden Mile Resources Ltd. is an Australian-listed mineral exploration company focused on discovering and developing base and precious metal assets. The company is expanding its portfolio into North America, targeting copper and molybdenum opportunities in Tier 1 mining jurisdictions such as Arizona, the leading U.S. copper-producing state.
Technical Sentiment Signal: Sell
Current Market Cap: A$3.73M
See more data about G88 stock on TipRanks’ Stock Analysis page.