Mithril Resources Limited: Gold Drilling Underway at Kombi and Fenceline
- RC drill program targeting high-grade gold at the Kombi and Fenceline Gold Prospects
- At Kombi drilling to follow-up recently obtained shallow intercepts;
o 4m @ 12.76g/t gold from 20 metres and 1m @ 5.44g/t gold from 20 metres
- At Fenceline drilling to test (for the first time) a 120-metre long zone of outcropping quartz veining with rock chip sampling results up to 8.22g/t gold
- Results expected mid - December 2017
At Kombi drilling will follow-up recently obtained shallow gold intercepts (see ASX Announcement dated 13 October 2017 and Figure 2); 4m @ 12.76g/t gold from 20 metres in NRC17004, and 1m @ 5.44g/t gold from 20 metres in NRC17001.
At Fenceline drilling will test (for the first time) a zone of ferruginous and brecciated quartz veining which has been mapped and sampled over approximately 120 metres strike length with rock chip results up to 8.22g/t gold (See ASX Announcement dated 28 June 2017 and Figure 3).
Assay results are expected by mid - December and Mithril will inform the market when they come to hand.
Kombi lies on EL51/1040 which is subject to a Farmin and Joint Venture Agreement with Intermin Resources Ltd. (ASX:IRC) whereby Mithril can earn a 60% interest by completing expenditure of $2M by 14 April 2019 (approximately $1.25M spent to date).
Mithril can earn an additional 15% by completing further expenditure of $2M over a further 2 years.
Fenceline lies on E51/1615 which is 100%-owned by Mithril.
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About Mithril Resources Limited:
Mithril Resources Ltd. (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 Ltd..
Mithril Resources Ltd.
David Hutton Managing Director