Mithril Resources Limited: Quarterly Activity Report March 2018
20.04.2018 | ABN Newswire
Adelaide - Mithril Resources (ASX:MTH) ("Mithril") and its exploration partners are exploring for a range of high-value commodities throughout the Meekatharra, West Kimberley and Kalgoorlie Districts of Western Australia, and the Coompana Province of South Australia (Figure 1).Key Points
Kurnalpi (Nickel-Cobalt)
- Initial drilling program successfully intersected nickel sulphide and nickel-cobalt mineralisation at the 100%-owned Kurnalpi Nickel-Cobalt Prospect including;
o 12m @ 0.54% nickel, 0.10% cobalt from 34 metres in 18GDSRC004 including 4m @ 0.70% nickel, 0.16% cobalt from 36 metres,
o 12m @ 0.69% nickel, 0.07% cobalt from 26 metres in 18GDSRC003 including 4m @ 0.86% nickel, 0.10% cobalt from 26 metres.
- Downhole EM geophysical surveying has identified a new off hole conductor that warrants further investigation.
- EM geophysics and follow-up drilling planned for the June 2018 Quarter
Lignum Dam / North Scotia (Nickel)
- Mithril now has over 500km2 of 100%-owned nickel prospective ground along strike from previously mined high-grade nickel sulphide mineralisation at the Silver Swan and Scotia deposits
- To be explored in conjunction with ongoing exploration at the Kurnalpi Nickel Cobalt Prospect
Billy Hills (Zinc)
- Project area expanded to over 315km2 with a new tenement application east of the former Pillara Zinc Mine
- Target generation continuing ahead of tenement grant anticipated for September 2018 Quarter
Corporate and Cash
- Cash reserves of $0.48M at 31 March 2018.
Exploration Overview
During the March 2018 Quarter (the "Quarter") Mithril successfully intersected nickel sulphide and nickel-cobalt mineralisation at Kurnalpi, significantly expanded its Kalgoorlie District nickel search area, and continued with target generation activities at Billy Hills.
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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. 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 Ltd..
Contact:
Mithril Resources Ltd.
David Hutton Managing Director
E: admin@mithrilresources.com.au
T: +61-8-8132-8800
F: +61-8-8132-8899
www.mithrilresources.com.au