Golden Mile Acquires Promising Copper Project in Arizona

Golden Mile Resources has secured access to the Pearl Copper Project in Arizona through an agreement with Outcrop Silver & Gold. Located in the Laramide Porphyry Belt, this project is expected to hold substantial copper resources.

The Pearl Copper Project, which has seen minimal modern exploration, contains over 50 historic artisanal workings and hosts the Pearl and Ford historic copper mines. Initial rock chip samples have returned notable results, including up to 7.3% copper, 0.43% molybdenum, 19.9% lead, 4.9% zinc, and 360 grams per tonne of silver.

Golden Mile and Outcrop have agreed on terms allowing Golden Mile to acquire up to 100% ownership through an earn-in joint venture. This deal involves an expenditure of up to A$12 million over eight years and includes up to a 2% net smelter royalty.

The project is situated in Arizona, a key mining region accounting for 70% of the USA's copper production in 2023. The Laramide Porphyry Copper Province, where the Pearl Copper Project is located, is a major contributor to this output.

Golden Mile is optimistic about the project's potential, citing its location and the promising initial findings from limited exploration activities.