2017 AGM Chairman's Address and Managing Director's Presentation
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 and its exploration partners are actively exploring throughout the Kalgoorlie, West Kimberley and Murchison Districts of Western Australia for economic nickel, copper, zinc, and vanadium deposits.
In the Kalgoorlie District, Mithril is exploring for nickel on the Kurnalpi, Lignum Dam and North Scotia Projects which lie along strike from, or adjacent to previously mined high-grade nickel at the Silver Swan and Scotia Nickel Deposits.
In the West Kimberley, Mithril is exploring for zinc on the Billy Hills Project which lies adjacent to the previously mined Pillara Zinc Deposit.
In the Murchison, Mithril is exploring for copper, nickel and zinc mineralisation on the Nanadie Well Project and for copper, silver, zinc and lead on the Bangemall Base Metal Project. Mithril's exploration partner – Monax Mining Ltd is also exploring for vanadium on the Limestone Well tenements.
Mithril Resources Limited