Broad Zone of Copper Sulphides at Stark
- 30 metres (downhole width) of disseminated, blebby, matrix, semi - massive and massive copper sulphides intersected in first drill hole testing new EM conductor at southern end of Stark Copper Nickel Prospect
- Drilling continuing at Stark with a second new EM conductor currently being tested
- Geological logging underway with final assays expected in July
NDD17002 extends the Stark Trend significantly to the south and demonstrates that the M1 conductor is related to copper sulphide mineralisation.
It is one of three diamond holes being drilled at Stark and the adjacent Nanadie Well Copper Deposit (2004 JORC Code Compliant Inferred Resource of 36.07Mt @ 0.42% copper, 0.064 g/t gold estimated by Intermin Resources Limited (ASX:IRC) in 2013) to test the significance of new bedrock EM conductors ("M1" and "M3") at Stark and to better understand the geological setting of the Nanadie Well deposit.
An earlier hole - NDD17001, was drilled at the Nanadie Well Copper Deposit (see Figure 4 in the link below) and intersected multiple intervals of disseminated copper sulphide mineralisation over 10's of metres between 50.6 metres to 170.55 metres* with several internal zones (3 - 5 metres*) of vein and stringer copper sulphide mineralisation.
At the time of writing, drilling was continuing and hole NDD17003 designed to test the M3 EM conductor at Stark was underway (see Figures 4 and 5 in the link below).
Geological logging of diamond drill core continues with final assay results expected in July. The Company looks forward to updating the market with new information on the results as they become available.
About the Stark Copper Nickel Prospect and the Nanadie Well Copper Deposit
The Nanadie Well Deposit and Stark lie on tenements subject to a Farmin and Joint Venture Agreement (Nanadie Well Joint Venture) with Intermin Resources Limited (ASX:IRC). Under the terms of the joint venture, Mithril can earn a 60% interest in the tenements by completing expenditure of $2M by 14 April 2019, and an additional 15% by completing further expenditure of $2M over a further 2 years.
Intermin Resources Limited estimated a 2004 JORC Code Compliant Inferred Resource for the Nanadie Well Copper Deposit in September 2013 (see Intermin's ASX Announcement "Initial Resource Estimate for the Nanadie Well Cu-Au Project" dated 19 September 2013).
The information pertaining to the Nanadie Well Copper Deposit Inferred Resource was prepared and first disclosed by Intermin under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.
The Inferred Resource is within a few meters of the surface and has been defined over 1 kilometre strike length, 50 - 150 metres (true width) and to a maximum depth of 220. The deposit remains open in all directions and lies within a broader 2 kilometres long mineralised zone that has been identified by wide spaced reconnaissance drilling.
Nanadie Well's prospectivity is further enhanced by the presence a second parallel copper and nickel - mineralised trend 1,000 metres east called the Stark prospect.
Refer to Mithril's ASX Announcements "Drilling extends Cu-Ni-PGE massive sulphides at Stark" dated 21 December 2015, and "Priority copper-nickel-targets at Stark" dated 1 June 2015 for further information on the Stark Prospect.
Note: Downhole widths used throughout this Report
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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. 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
Intermin Resources Limited