Announcement Date: 2022-07-05
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Mithril Resources Ltd.
Project name: Cometa
Location: Mexico
Commodities: Gold,Silver
Highlight: Drilling results incl. 5.67m @ 4.37g/t Au, 174g/t Ag from 331.33m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Mithril Resources Ltd (ASX: MTH) (Mithril or the Company) is pleased to provide exploration results for its 100% optioned Copalquin Gold Silver Project in Mexico where a maiden 529koz gold equivalent* high-grade gold-silver JORC resource has been defined at El Refugio-La Soledad * (see ASX announcement 17 November 2021) Since acquiring the property in May 2020, Mithril has been drilling in the Copalquin district with one manportable diamond drill rig developing several targets in the district and delivering a high-grade maiden JORC resource at El Refugio. The current program of work is exploring two main trends of historic mine workings across the district further ranking and developing drill targets and expanding/upgrading the maiden resource at El Refugio. During the maiden drill program in 2020, Mithril identified a large upwelling hydrothermal zone at El Refugio which hosts the maiden mineral resource estimate This high-quality and high-grade resource is open at depth beyond where some of the highest grade intercepts were recorded. Additionally, there is significant upside beyond this maiden resource area to increase the district resources for gold and silver. Mining study work and metallurgy reported earlier this year, show the current resource material to be amenable to conventional underground mining and processing methods, yielding high gold and silver extraction.
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