Announcement Date: 2022-12-06
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Golden Mile Resources Ltd.
Project name: Quicksilver
Location: Australia
Commodities: Cerium
Highlight: Drilling results incl. 4m at 3297.00ppm Ce, from 6m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Golden Mile Resources Limited (ASX: G88; “the Company”) is pleased to advise that a review of its Quicksilver clay hosted nickel-cobalt deposit has concluded there is potential for Rare Earth Element (“REE”) mineralisation. • Quicksilver clay nickel-cobalt deposit contains REE mineralisation • REE mineralisation intersected over a broad area (~1.7km x 0.4km) o 15 drill holes > 1000ppm Cerium (III) Oxide (“Ce2O3”) o Best result QRC0061: 4m @ 3297ppm Ce2O3 from 6m (including 1m @ 6196ppm Ce2O3 from 8m) • REE mineralisation is clay hosted occurring mostly near surface overlying the existing nickelcobalt resource • Quicksilver is located adjacent to a regional drainage system, which is defined by a series of salt lakes. These lakes contain a high concentration of ionic saline groundwater which can generate the ideal conditions for REE supergene enrichment within the oxide clays that also contain the nickel-cobalt mineralisation • The REE potential of the Quicksilver nickel-cobalt deposit can be assessed quickly and cheaply within the resource area by re-assaying existing pulps from the drilling that are in storage o 30 x 1m intervals with > 1000ppm Ce2O3 have been submitted for TREO assay o If initial results are positive the Company will submit all the pulps for re-assay o Incorporating the REE extraction potential into the nickel – cobalt metallurgical drilling and testwork planned for early 2023 • Anomalous Cerium (> 100 ppm) in soil samples located outside of the resource area are to be followed-up in 2023 Golden Mile initiated a review of
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