0:00 | 13.10.2017
Mithril Resources Limited (ASX:MTH) High-Grade Gold at Kombi Prospect
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:
About Mithril Resources Limited:
Mithril Resources Limited (ASX:MTH) is an Australian resources company whose objective is the creation of shareholder wealth through the discovery and development of mineral deposits.
The Company is actively exploring throughout two highly prospective areas of the Western Australian Goldfields, namely the Kalgoorlie District for gold and nickel deposits and the Meekatharra District for copper-nickel deposits.
The Company is also exploring South Australia’s far western Coompana Province for magmatic nickel – copper deposits with OZ Minerals Limited.
Mithril Resources Limited
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