Quarterly Activities and Cashflow Report Sep 2017
Murchison Project (Gold / Copper)
- At the Kombi Gold Prospect, RC drilling intersected shallow high-grade gold mineralisation;
o 4m @ 12.76g/t gold from 20 metres in NRC17004, and
o 1m @ 5.44g/t gold from 20 metres in NRC17001
- Kombi remains open in all directions with follow-up drilling scheduled for late October - early November 2017
- Currently awaiting statutory approvals (Heritage Clearance Survey) for Fenceline Gold Prospect where surface rock chip samples have returned up to 8.22g/t gold
- Diamond drilling at the Nanadie Well Copper Deposit and Stark Copper Prospect returned broad zones of copper mineralisation;
o 127.75m @ 0.40% copper, 0.11g/t gold from 42.80 metres including 4.90m @ 1.80% copper, 0.25g/t gold (Nanadie Well), and
o 30.40m @ 0.52% copper, 0.13% nickel, 0.36g/t 3PGE's from 248.50 metres including 5.40m @ 1.25% copper, 0.26% nickel, 1.21g/t 3PGE's (Stark)
- RC drilling at the new Sandman Zinc Prospect intersected zinc anomalism within a host rock sequence that suggests a possible Volcanic Massive Sulphide (VMS) origin;
o 12m @ 0.26% zinc from 97 metres including 1m @ 2.36% zinc, and 5m @ 0.59% zinc from 118 metres.
Billy Hills Project (Zinc)
- New 100% - owned tenement application adjoining the Pillara Zinc Mine (pre-mine resource of 18.05 million tonnes at 7.7% zinc and 2.4% lead)
- Billy Hills covers interpreted southern extension to key faults that control the Pillara mineralisation in an area of relatively limited historic exploration activities.
Exploration Plan for next Quarter
- Follow-up drilling at the Kombi Gold Prospect
- Heritage Clearance Survey for the Fenceline Gold Prospect
- Commencement of target generation activities for the new Billy Hills Zinc Project
Corporate and Cash
- Cash reserves of $0.65M at 30 September 2017.
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About Mithril Resources Limited
Mithril are exploring for a range of high-value commodities (principally nickel, cobalt, copper and zinc) throughout the Meekatharra, West Kimberley and Kalgoorlie Districts of Western Australia.
The Company is also exploring South Australia’s far western Coompana Province for magmatic nickel – copper deposits with OZ Minerals Limited.
Mithril Resources Limited