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Mithril Resources Ltd.
Summary
| Project: | Lignum Dam | |
|---|---|---|
| Deposit: | Mexi | |
| Location: | Australia | |
| Commodities: | Nickel-Copper-PGM | |
| Date: | 1/30/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 30-1-2017: Mithril Resources Ltd. announces an Exploration/Drilling Update report for its Mexi deposit at the Lignum Dam project. Drilling results incl. 40m @ 0.28% Ni, 348ppm Cu, 65ppb PGMs from 4.0m. Mithril Resources Ltd (ASX: MTH) is pleased to advise | |
| Resources: | x | |
| CP/QP: | [Overall Report]: David Hutton (Internal) | |
| ABSTRACT: | Mithril Resources Ltd (ASX: MTH) is pleased to advise that a recently completed 2,524 metre first-pass aircore drill program has identified a new nickel sulphide prospect (called “Mexi”) at the 100% owned Lignum Dam Project (located 50 kilometres north-northeast of Kalgoorlie Western Australia - Figure 1). At Mexi, 3 of 4 holes (KNAC030 to 033) drilled to test a surface nickel - copper geochemical anomaly have intersected a broad zone of anomalous nickel - copper - platinum + palladium (PGE’s) within weathered ultramafic rocks adjacent to a steeply - dipping mafic contact. Within the intercepts, maximum values (for any individual 4 metre composite sample) are 0.57% nickel, 603ppm copper, and 119ppb PGE’s (Table 2). The presence of elevated copper and PGE’s along with nickel at Mexi is highly significant as they are potentially indicative of nickel sulphide mineralisation at depth within fresh rock. Mexi remains open both along strike and down-dip, and lies within a broader structural corridor that is interpreted from aeromagnetic and gravity data to extend from known high-grade nickel sulphide mineralisation at the Silver Swan nickel deposit located 9km to the south. Mithril will follow-up the Mexi results with a ground EM geophysical (Moving Loop TEM) survey which is scheduled to commence within the next two weeks. | |
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