Drilling underway at Kombi Gold Prospect
Adelaide, Sep 13, 2017 AEST (ABN Newswire) - Mithril Resources Ltd (
ASX:MTH) is pleased to advise that a drilling programme is underway at the Kombi Gold Prospect, approximately 70 kms southeast of Meekatharra, WA (see Figure 1 in the link below).
- RC drill program targeting high-grade gold beneath historic workings and adjacent soil anomaly
- Historic workings mined to 10 metres depth - reported production of 1,094 tonnes @ 10.8g/t gold and sampling of remnant quartz vein material returning results up to 271g/t gold
- No previous drill testing below 25 metres vertical depth
- Results expected by early October 2017
Kombi comprises shallow historic gold workings (reported production to 10 metres depth of 1,094 tonnes @ 10.8g/t gold) and a large gold in soil anomaly (150m x 170m in size as defined by the +10ppb gold contour with maximum value of 340ppb gold) immediately along strike from the workings (see Figure 2 in the link below).
Rock chip sampling of remnant vein quartz material from the workings returned results ranging from 0.27 g/t gold to 271 g/t gold.
Significantly Kombi has not been effectively drill tested in the past with only wide-spaced shallow drilling (less than 25 metres vertical depth) previously undertaken (see Mithril's ASX Announcement dated 7 August 2017 for further details).
The new drilling (~850 metres Reverse Circulation) is targeting high-grade gold mineralisation beneath the workings and soil anomaly with results expected by early October 2017.
The Kombi Gold Prospect lies on EL51/1040 which is subject to a Farmin and Joint Venture Agreement with Intermin Resources Limited (ASX:IRC).
Under the terms of the joint venture, Mithril can earn a 60% interest in the tenement by completing expenditure of $2M by 14 April 2019, and an additional 15% by completing further expenditure of $2M over a further 2 years.
To view figures, please visit:
http://abnnewswire.net/lnk/8S9TNQ06
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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