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Mithril Resources Ltd.
Summary
| Project: | Lignum Dam | |
|---|---|---|
| Deposit: | Mexi | |
| Location: | Australia | |
| Commodities: | Nickel-Copper-PGM | |
| Date: | 6/6/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 6-6-2017: Mithril Resources Ltd. announces an Exploration/Drilling Update report for its Mexi deposit at the Lignum Dam project. Drilling results incl. 40m @ 0.46% Ni, 0.03% Cu, 0.035% Co, 66ppb PGMs from 0m. Mithril Resources Ltd (ASX: MTH) is pleased to | |
| Resources: | x | |
| CP/QP: | [Overall Report]: David Hutton (Internal) | |
| ABSTRACT: | Mithril Resources Ltd (ASX: MTH) is pleased to provide an exploration update for the Mexi Nickel Prospect and the Nanadie Well Project (located 50 kilometres north-northeast of Kalgoorlie and 80 kilometres southeast of Meekatharra, WA respectively – Figure 1). At Mexi, Reverse Circulation hole KNRC001 was drilled to test a broad zone of shallow nickel-copper-cobalt - platinum + palladium (“PGE’s”) anomalism previously intersected by Mithril aircore drilling within weathered ultramafic rocks (see Figure 2). KNRC001 intersected a broad zone of weakly disseminated sulphide - bearing high MgO ultramafic (peridotite) beneath a zone of strong weathering - sampling of which returned 40m @ 0.46% nickel, 305ppm copper, 354ppm cobalt and 66ppb PGE’s from surface. Maximum analytical values for any single metre sample of the fresh disseminated sulphides were; 1730 ppm nickel, 514 ppm copper, and 91 ppb PGE’s. To assist with ongoing assessment of Mexi, KNRC001 has been cased with PVC to provide a platform for downhole EM surveying. At Nanadie Well, diamond drilling has commenced at the Nanadie Well Copper Deposit (2004 JORC Code Compliant Inferred Resource of 36.07Mt @ 0.42% copper, 0.064 g/t gold - 151,506 tonnes copper and 74,233 ounces gold estimated by Intermin Resources Limited ASX: IRC in 2013). | |
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