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 of mineral deposits.
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.
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