Quarterly Activity Report March 2018
Adelaide, April 20, 2018 AEST (ABN Newswire) - Mithril Resources (
ASX:MTH) ("Mithril") and its exploration partners are exploring for a range of high-value commodities throughout the Meekatharra, West Kimberley and Kalgoorlie Districts of Western Australia, and the Coompana Province of South Australia (Figure 1).
Key Points
Kurnalpi (Nickel-Cobalt)
- Initial drilling program successfully intersected nickel sulphide and nickel-cobalt mineralisation at the 100%-owned Kurnalpi Nickel-Cobalt Prospect including;
o 12m @ 0.54% nickel, 0.10% cobalt from 34 metres in 18GDSRC004 including 4m @ 0.70% nickel, 0.16% cobalt from 36 metres,
o 12m @ 0.69% nickel, 0.07% cobalt from 26 metres in 18GDSRC003 including 4m @ 0.86% nickel, 0.10% cobalt from 26 metres.
- Downhole EM geophysical surveying has identified a new off hole conductor that warrants further investigation.
- EM geophysics and follow-up drilling planned for the June 2018 Quarter
Lignum Dam / North Scotia (Nickel)
- Mithril now has over 500km2 of 100%-owned nickel prospective ground along strike from previously mined high-grade nickel sulphide mineralisation at the Silver Swan and Scotia deposits
- To be explored in conjunction with ongoing exploration at the Kurnalpi Nickel Cobalt Prospect
Billy Hills (Zinc)
- Project area expanded to over 315km2 with a new tenement application east of the former Pillara Zinc Mine
- Target generation continuing ahead of tenement grant anticipated for September 2018 Quarter
Corporate and Cash
- Cash reserves of $0.48M at 31 March 2018.
Exploration Overview
During the March 2018 Quarter (the "Quarter") Mithril successfully intersected nickel sulphide and nickel-cobalt mineralisation at Kurnalpi, significantly expanded its Kalgoorlie District nickel search area, and continued with target generation activities at Billy Hills.
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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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