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Mila Resources ( (GB:MILA) ) has shared an update.
Mila Resources has reported initial reverse circulation drilling results from its Q1 2026 campaign at the Yarrol Gold Project in Queensland, confirming gold mineralisation at the southernmost positions drilled to date at Yarrol North and extending the confirmed strike length of this target to more than 500 metres. The mineralised system remains open in all directions, with broad zones of gold and higher-grade intercepts at the southern margin, and the company is using these results, alongside pending assays from additional infill and step-out holes, to build the dataset needed for an inaugural JORC mineral resource estimate.
At its Monal West licence, early rock chip sampling from the Jazza target has returned anomalous gold, copper and silver values with elevated molybdenum, zinc and tungsten, indicating a geochemical signature consistent with a porphyry and associated epithermal system at depth. Supported by a substantial inherited IP geophysical anomaly, these findings suggest a potentially larger mineralised system, and Mila plans to deploy cost-effective ground geophysical surveys to refine its targets and move both Yarrol and Monal West efficiently toward drill-ready and resource-definition stages, reinforcing the scale and growth potential of its Queensland portfolio for stakeholders.
Spark’s Take on MILA Stock
According to Spark, TipRanks’ AI Analyst, MILA is a Neutral.
The score is held down primarily by weak financial performance (no revenue, ongoing losses, and persistent negative free cash flow) and bearish technicals (below key moving averages with negative MACD). A low-debt balance sheet and equity base provide some stability, but valuation support is limited given the negative P/E and no dividend yield.
To see Spark’s full report on MILA stock, click here.
More about Mila Resources
Mila Resources Plc is a post-discovery gold exploration company listed on the LSE and focused on advancing gold and copper interests in Queensland, Australia. Its flagship Yarrol Gold Project is progressing toward an initial JORC-compliant mineral resource estimate, complemented by earlier-stage exploration across its broader Queensland licence portfolio, including the Monal West porphyry corridor.
Average Trading Volume: 8,790,060
Technical Sentiment Signal: Sell
Current Market Cap: £7.45M
For an in-depth examination of MILA stock, go to TipRanks’ Overview page.