Mila Resources Hits Record High-Grade Gold at Yarrol as Drilling Extends Mineralisation

Mila Resources ( (GB:MILA) ) has provided an update.

Mila Resources has reported further assay results from its Q1 2026 reverse circulation drilling campaign at the Yarrol Gold Project in Queensland, highlighting the highest-grade gold intercept to date of 112 grams per tonne over one metre. The latest three holes, drilled in the southern and central parts of the Yarrol North target, confirm high-grade mineralisation at the southern extent tested so far, extend shallow gold mineralisation to the north, and demonstrate continuity to the west beyond the historic resource footprint, with mineralisation remaining open in all directions.

The 12-hole programme, of which additional results are pending, is designed to expand the mineralised footprint and generate the dataset required for an initial JORC mineral resource estimate, supported by multi-element geochemistry to refine structural interpretation and guide future drilling. Management says the emerging pattern of repeating, high-grade structural shoots suggests a more continuous and potentially economic gold system in a proven district, reinforcing the company’s decision to accelerate project development following its recent capital raise and potentially strengthening its strategic position among Australian gold explorers.

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 London-listed natural resources company operating as a post-discovery gold exploration specialist. It is focused on advancing a portfolio of gold and copper assets in Queensland, Australia, with the Yarrol Gold Project as its most advanced asset, progressing toward an initial JORC-compliant mineral resource estimate alongside earlier-stage targets such as the Monal West porphyry corridor.

Average Trading Volume: 9,555,675

Technical Sentiment Signal: Sell

Current Market Cap: £8.41M

Learn more about MILA stock on TipRanks’ Stock Analysis page.