The Company's focus is very much on the Murchison Project where we continue to have exploration success. Multiple drilling programs were completed during the past 12 months and significant copper mineralisation was intersected at both the Nanadie Well Copper Deposit and the adjacent Stark Copper Prospect. The drilling provides further confirmation that this area is host to two large copper mineralised systems less that 1km apart that remain open at depth and along strike.
Prospecting and sampling programs have also been very successful on the Murchison Project resulting in two new gold prospects; Kombi and Fenceline. It was very exciting to see our initial drilling program at Kombi return high grade gold intersections very close to surface including 4m @ 12.76g/t gold from 20 metres in NRC17004.
At Fenceline field teams have identified a zone of ferruginous and brecciated quartz veining which has been mapped and sampled over approximately 120 metres strike length with rock chip results of up to 8.22g/t gold. There is no historic drilling on the Fenceline prospect and as announced yesterday, a 1,000-metre Reverse Circulation drilling program is now underway at both Kombi and Fenceline and we look forward to the results which are expected in mid - December.
In addition to our efforts at Murchison, we have acquired a new zinc project called "Billy Hills" adjacent to the historic Pillara Zinc Mine in the Kimberley District of WA and Mithril's exploration partners have carried out aircore drilling for gold at Duffy Well, estimated a new JORC Mineral Resource at Spargos Reward and identified a new gold target at Kurnalpi.
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About Mithril Resources Limited
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