Golden Mile Resources Unveils High-Grade Assay Results from Pearl Copper Project
GOLDEN MILE RESOURCES LTD (G88) Share Update September 2024 Monday 30th
Golden Mile Reports Exceptional Rock Chip Assay Results at Pearl Copper Project
Golden Mile Resources Limited (ASX: G88) has announced exceptional assay results from its recent rock chip sampling at the Odyssey Prospect, part of the Pearl Copper Project in Arizona, USA.
Instant Summary:
- Silver assay highlights: 930 g/t, 233 g/t, 274 g/t.
- Copper assay highlights: 10.05%, 4.23%, 4.13%.
- Zinc assay highlights: 8.09%, 7.21%, 6.33%.
- 10 out of 14 samples assayed >30 g/t Silver.
- 12 out of 14 samples assayed >1.5% Copper.
- 10 out of 14 samples assayed >1.0% Zinc.
Exceptional Assay Results
Golden Mile Resources Limited has reported outstanding assay results from its first pass rock chip sampling at the Odyssey Prospect, part of the Pearl Copper Project in Arizona. The assays revealed significant grades of copper, silver, and zinc, highlighting the prospect's high potential for multi-element mineralization.
The silver assays returned highlights of 930 g/t, 233 g/t, and 274 g/t. Copper assays showed impressive results with 10.05%, 4.23%, and 4.13%. Zinc assays were also notable, with highlights of 8.09%, 7.21%, and 6.33%.
Sampling Details
Of the 14 rock chip samples taken, 10 samples assayed over 30 g/t silver, 12 samples assayed over 1.5% copper, and 10 samples assayed over 1.0% zinc. The mineralization at the Odyssey Prospect is visible at the surface and extends over a strike length of more than 800 meters, featuring multiple NNW trending extensional veins.
The veins contain visible copper minerals such as malachite and chrysocolla, and the presence of silver and zinc indicates a broader mineralization potential. Notably, the Odyssey Prospect has never been drilled, making these initial results highly promising.
Geological Context
Golden Mile's Managing Director, Damon Dormer, expressed excitement over the results, stating that the high grades of copper, silver, and zinc broaden the mineralization potential of the Odyssey Prospect and increase confidence in additional prospects within the Pearl Project area. The rock chip sampling covered approximately 400 meters of strike length, centered on historic workings extending over 800 meters.
The mineralized structure hosts three quartz veins with polymetallic mineralization within a granodiorite host rock. Wall rock alteration and mineralization are strongly evident, with a broad propylitic alteration halo.
The exceptional assay results from the Odyssey Prospect are likely to positively impact Golden Mile's stock price as investors react to the high-grade mineralization potential. The presence of significant grades of copper, silver, and zinc suggests a promising future for the Pearl Copper Project, which could attract further investment and interest in the company's exploration activities.
Investor Reaction:
Analysts are expected to react positively to the news, given the high assay results and the potential for significant mineralization at the Odyssey Prospect. The announcement is likely to boost investor confidence in Golden Mile's exploration strategy and the overall potential of the Pearl Copper Project.
Conclusion:
Investors should closely monitor Golden Mile's upcoming drilling program and further exploration activities at the Pearl Copper Project. The high-grade assay results indicate a promising future for the project, and the company's strategic response to these findings will be crucial in maintaining investor confidence and driving future growth.