Gold Drilling Underway at Kombi and Fenceline
Adelaide, Nov 14, 2017 AEST (ABN Newswire) - Mithril Resources Ltd (
ASX:MTH) is pleased to advise that a 1,000-metre Reverse Circulation drilling program is underway at the Kombi and Fenceline Gold Prospects (located approximately 70 kms southeast of Meekatharra, WA - see Figure 1 in link below).
- RC drill program targeting high-grade gold at the Kombi and Fenceline Gold Prospects
- At Kombi drilling to follow-up recently obtained shallow intercepts;
o 4m @ 12.76g/t gold from 20 metres and 1m @ 5.44g/t gold from 20 metres
- At Fenceline drilling to test (for the first time) a 120-metre long zone of outcropping quartz veining with rock chip sampling results up to 8.22g/t gold
- Results expected mid - December 2017
At Kombi drilling will follow-up recently obtained shallow gold intercepts (see ASX Announcement dated 13 October 2017 and Figure 2); 4m @ 12.76g/t gold from 20 metres in NRC17004, and 1m @ 5.44g/t gold from 20 metres in NRC17001.
At Fenceline drilling will test (for the first time) a zone of ferruginous and brecciated quartz veining which has been mapped and sampled over approximately 120 metres strike length with rock chip results up to 8.22g/t gold (See ASX Announcement dated 28 June 2017 and Figure 3).
Assay results are expected by mid - December and Mithril will inform the market when they come to hand.
Kombi 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 $1.25M spent to date).
Mithril can earn an additional 15% by completing further expenditure of $2M over a further 2 years.
Fenceline lies on E51/1615 which is 100%-owned by Mithril.
To view figures, please visit:
http://abnnewswire.net/lnk/4HBGC4GE
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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