High-Grade Gold at Kombi Prospect
Adelaide, Oct 13, 2017 AEST (ABN Newswire) - Mithril Resources Ltd (
ASX:MTH) is pleased to advise that a recent drilling programme at the Kombi Gold Prospect (located approximately 70 kms southeast of Meekatharra, WA - see Figure 1 in link below) has successfully intersected high-grade gold mineralisation at approximately 17m metres vertical depth:
- 4m @ 12.76g/t gold from 20 metres in NRC17004, and 1m @ 5.44g/t gold from 20 metres in NRC17001.
6 wide-spaced Reverse Circulation holes (NRC17001 to NRC17006) totalling 504 metres were drilled to test for high-grade gold mineralisation beneath the historic Gloria June gold workings (reported production to 10 metres depth of 1,094 tonnes @ 10.8g/t gold) and adjacent soil anomaly.
- RC drill program testing beneath historic workings and nearby soil anomaly successfully intersects high-grade gold mineralisation at less than 20 metres vertical depth:
o 4m @ 12.76g/t gold from 20 metres (NRC17004); and
o 1m @ 5.44g/t gold from 20 metres (NRC17001)
- Intercepts remain open in all directions with follow-up drilling planned as soon as possible
The NRC17001 and NRC17004 intercepts occur within a zone of largely unweathered quartz - biotite - chlorite alteration (+/- disseminated and stringer pyrite - chalcopyrite mineralisation) that is present within a sheared sequence of gabbro, amphibolite and meta-sediments (see Figures 3 to 6 in link below).
With no historic drilling beneath the most recent holes, the new intercepts remain open in all directions and are a high priority for follow-up.
Mithril plans to undertake further drilling at Kombi as soon as possible.
The Kombi Gold Prospect lies on EL51/1040 which is subject to a Farmin and Joint Venture Agreement with Intermin Resources Limited (ASX:IRC) whereby Mithril can earn a 60% interest by completing expenditure of $2M by 14 April 2019 (approximately $1.24M spent to date).
Mithril can earn an additional 15% by completing further expenditure of $2M over a further 2 years.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/CASD066C
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.
| ||
|
