Commencement of IP Survey at Monal Au-Cu Project

Mila Resources PLC

22 June 2026

 

Mila Resources Plc / Index: LSE / Epic: MILA / Sector: Natural Resources

22 June 2026

Mila Resources Plc

("Mila" or the "Company")

Commencement of the First IP Survey at Monal Gold-Copper Project

Mila Resources Plc (LSE: MILA), the resource development company focussed on gold and copper in Australia, is pleased to announce the commencement of the first induced polarisation ("IP") geophysical survey at its Monal Gold-Copper Project ("Monal" or the "Project") in Queensland, Australia.

Background to the IP Survey at Monal

The Company's technical team has already undertaken exploration work at Monal in recent months, consisting of geological mapping, grab sampling and infill and extension of historic soil geochemistry surveys, with interpretation guided by geological characteristics observed at the nearby Cannindah deposit. The IP Survey is expected to confirm the presence of geophysical signatures typically associated with porphyry-style mineralisation, including "porphyry finger" type targets.

The IP survey forms part of the Company's systematic exploration programme planned to advance a pipeline of large-scale gold-copper porphyry targets towards drill-ready status at Monal. The current programme is focused on the Child's target in the east of Monal, directly along strike from the historic, non-compliant Boggy Creek resource area. Further IP work will be completed across the broader Monal West target corridor, at the Rough Gully, Jazza and Basilica prospects.

Figure 1. Location of Monal Cu-Au targets and planned IP surveys. The initial progress at the Child's target in the east of the project area can be seen on the map. Full results from this will be shared in dure course.

The IP programme builds on extensive work completed by the Company since acquiring the Project, including the review of historic exploration data, geological mapping and surface sampling. The integration of the new geophysical dataset with existing geological and geochemical information is expected to significantly improve target definition across the Monal project area.

Mila's exploration strategy at Monal is focused on systematically developing a portfolio of high-priority targets with sufficient scale and geological confidence to support future drilling programmes. By integrating multiple datasets and advancing targets through a disciplined exploration process, the Company aims to maximise the effectiveness of future drilling campaigns and unlock the broader potential of the Monal gold-copper system, in parallel with its workstreams at the more advanced Yarrol Gold Project, and the Mt Steadman and Kathleen Valley Projects.

Mark Stephenson, Executive Chairman, commented:

"The commencement of the first IP survey at Monal marks another important step for the Company as we develop another strand of our project in Queensland. We have already completed a significant amount of groundwork at, including geological mapping, surface sampling, and the review of historical datasets, all of which point to the potential for a substantial gold-copper porphyry system.

"This IP survey will provide a critical layer of information that will allow us to refine our geological model and prioritise the most prospective targets for drilling. Our objective is not simply to generate drill targets, but to build a pipeline of targets with sufficient scale and supporting evidence to justify focused and efficient drill programmes.

"We have naturally focused our efforts at Yarrol to date; however, Monal has the prospect of becoming another standalone project for the Company as we de-risk the exploration phase. We look forward to reporting on the results of the IP survey and our next phases of work at Yarrol in due course."

Competent Person Statement

The information in this announcement relating to Exploration Results is based on information compiled by Alastair Goodship, who is COO of Mila Resources, and a member of The Institute of Materials, Minerals and Mining and a Fellow of the Geological Society. Dr Goodship has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resource and Ore Reserves".

**ENDS**

For more information visit www.milaresources.com or contact:  

Mark Stephenson   Mila Resources Plc	[e-mail]
Jonathan Evans   Tavira Financial Limited	[phone]
Nick Emerson   SI Capital	[phone]
Damon Heath Shard Capital Partners LLP	[phone] ​​

ABOUT MILA RESOURCES

Mila Resources Plc (LSE: MILA) resource developer focussed on advancing a portfolio of gold and copper interests in Australia.  The most advanced is the Yarrol Gold Project, which is moving towards an initial Mineral Resource Estimate, alongside the systematic advancement of exploration targets across its broader Queensland licence portfolio, including the Monal West porphyry corridor.

 

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