Copper Nickel Cobalt Exploration Update and Presentation
Adelaide, Feb 20, 2017 AEST (ABN Newswire) - Mithril Resources Ltd (
ASX:MTH) are pleased to provide an exploration updated and presentation across the Company's base metal exploration projects including, Mexi Nickel Prospect, Stark Copper Prospect, Coompana Project and the Basil Copper Cobalt deposit.
"With an existing resource inventory of 264Kt copper and 13Kt cobalt metal, Mithril Resources Ltd (ASX:MTH) is actively exploring 3 Australian base metal projects.
The Company has unearthed a new nickel sulphide prospect called Mexi next door to the high-grade Silver Swan Nickel Deposit (Kalgoorlie, WA) and where an EM survey to define further drill targets will start shortly.
In South Australia's far western Coompana Province, Mithril has teamed up with OZ Minerals (ASX:OZL) to explore for nickel-copper deposits with the first batch of drill targets due late in the current Quarter.
80 kilometres south east of Meekatharra, WA Mithril is exploring the Stark Copper Prospect where its previous drilling has delineated copper mineralisation over 1.5 kilometres strike length. The prospect remains open in all directions and the Company is currently planning up an EM survey.
Lastly the Company is exploring options to unlock value from its wholly owned Basil Copper Cobalt Deposit. Basil contains 151Kt copper and 13Kt cobalt metal and remains open along strike and down dip".
Copper Nickel Cobalt Exploration Update - Presentation
At A Glance:
- Actively exploring 3 base metal projects
- JV Partners advancing other projects
- Strongly leveraged to growth in commodity prices
- Resource inventory - 264Kt copper / 13Kt cobalt / 55Koz gold
Current Projects:
- Mexi Nickel Prospect - EM Survey to commence shortly
- Stark Copper Prospect - EM Survey planning underway
- Coompana Project - Target generation underway
- Basil Copper Cobalt Deposit - Exploring options to unlock value
Basil Copper Cobalt Deposit
- Mithril 100%
- 150km east of Alice Springs, NT
- 151Kt copper, 13Kt cobalt metal
- Resource lies within 10km long mineralised trend
- Remains open along strike / down dip
- Exploring options to unlock value
JV Partners
- Doray Minerals (ASX:DRM) earning up to 85% at Duffy Well
o Evaluating gold targets
- Chesser Resources (ASX:CHZ) earning up to 80% at Kurnalpi
o New gold targets identified
- Corona Minerals 65% at Spargos Reward
o Evaluating gold and lithium targets
To view the presentation, please visit:
http://abnnewswire.net/lnk/4111OH75
About Mithril Silver and Gold Limited
Mithril Resources Limited (ASX:MTH) (CVE:MSG) is an Australian resources company whose objective is the creation of shareholder wealth through the discovery of mineral deposits.
The Company and its exploration partners are actively exploring throughout the Kalgoorlie, West Kimberley and Murchison Districts of Western Australia for economic nickel, copper, zinc, and vanadium deposits.
In the Kalgoorlie District, Mithril is exploring for nickel on the Kurnalpi, Lignum Dam and North Scotia Projects which lie along strike from, or adjacent to previously mined high-grade nickel at the Silver Swan and Scotia Nickel Deposits.
In the West Kimberley, Mithril is exploring for zinc on the Billy Hills Project which lies adjacent to the previously mined Pillara Zinc Deposit.
In the Murchison, Mithril is exploring for copper, nickel and zinc mineralisation on the Nanadie Well Project and for copper, silver, zinc and lead on the Bangemall Base Metal Project. Mithril's exploration partner – Monax Mining Ltd is also exploring for vanadium on the Limestone Well tenements.
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