During the June 2018 Quarter (the "Quarter") Mithril prioritised two nickel targets for drill testing and EM geophysical surveying at Kurnalpi, continued target generation at Billy Hills, and applied for a new exploration tenement ("Genoa Bore") which is prospective for copper and zinc mineralisation west of the Abra Deposit.
- Two nickel targets prioritised for drill testing and EM geophysical surveying
- Drilling scheduled to commence first week of August 2018
Billy Hills (Zinc)
- Project area expanded to over 315km2 with a new tenement application east of the former Pillara Zinc Mine
- First of the project tenements granted
- Target generation continuing
Genoa Bore (Copper, Zinc)
- New exploration tenement prospective for copper and zinc mineralisation west of the Abra Deposit within a similar geological setting
- The tenement's prospectivity is highlighted by historic surface rock chip sampling and wide spaced drilling, some of which has returned strong indications of copper and zinc mineralisation;
o Rock chip samples with individual assay values up to 17.5% copper, 2.4% lead, 3.70% zinc, and 120ppm silver
o Drilling - 48m @ 2,709ppm Zn from 54 metres in ISBD1, 5m @ 5,940ppm Zn from 130 metres in ISBD2, and 21m @ 3,488ppm Zn from 315 metres in ISBD3
- Data compilation, review and target generation underway
Corporate and Cash
- Cash reserves of $0.86M at 31 March 2018.
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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.
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Mithril Resources Limited (ASX:MTH) Successful Capital Raising to Drive Kurnalpi Nickel Sulphide Search