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Mila says JV partner Liontown completes survey at Kathleen Valley

13th Feb 2024 11:53

(Alliance News) - Mila Resources PLC on Tuesday said its joint-venture partner, Liontown Resources Ltd, has completed its aerial image survey at the Kathleen Valley gold project in Western Australia.

Liontown is the operator of Kathleen Valley and is based in West Perth, Australia.

The London-based gold exploration firm, focussed on Kathleen Valley, said Liontown will now start a soil sampling programme, in which its results will be used to determine drilling targets for lithium.

Mila Resources will then use the same soil samples and assay results for precious and base metals to "provide a more complete picture of the geological model for Kathleen Valley", as well as to determine any new targets.

Mila Resources Chair Mark Stephenson said: "We're entering a busy period at Kathleen Valley, and the benefits of our collaboration with Liontown are becoming evident. Once the environmental and heritage surveys have been completed, Mila will be able to advance in defining known targets in the northern part of the property. Furthermore, Liontown's work in collecting soil samples enables us the option to analyse them for precious and base metals, providing a more comprehensive understanding of our licence package and guiding our next actions."

Shares in Mila Resources fell 3.5% to 0.70 pence each in London on Tuesday morning.

By Sabrina Penty, Alliance News reporter

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