Soil sampling has provided evidence of a new large gold anomaly at MIL Resources' Poi Gold-Copper Project.
While grades at the Wallaby Ridge anomaly are not particularly impressive, the anomaly covers an extensive area.
Soil sampling revealed a 500 metre stretch @ 0.13 grams/tonne gold and 0.01% copper, while a separate result unearthed 860 metres @ 0.06 grams/tonne gold and 0.02% copper, including 665 metres @ 0.03% copper.
The company gathered 303 ridge and spur soil samples taken at 25m intervals to a depth of just 1 metre.
Wallaby Ridge anomaly is about 2km northeast and along strike of the company's Aladdins prospect, which has returned a trench assay result of 12 metres @ 9.6 grams/tonne gold and 0.65% copper.
MIL is focusing on an 11km prominent airborne radiometric anomaly at the Poi project, which is in the far southeast of Central Province.
MIL has recently signed a funding deal and farm-in agreement with Sinotech Minerals Exploration over the PNG tenements of MIL's subsidiary Titan Metals, which include five exploration licences and five exploration licence applications prospective for gold, copper, nickel and molybdenum.
Beijing-based Sinotech will take a 30% stake in MIL through the purchase of Aus$5 million worth of shares.
Sinotech will also fund exploration on the Titan portfolio, earning up to 50% in any, or all, of the projects.www.mgil.com.au