Highlights

• Multiple vein intercepts confirming the El Refugio structure extends 180m to the west

• Drilling result highlights for first holes stepping out to the west along the El Refugio structure:
  • 26.78m @ 2.26 g/t gold, 25.1 g/t silver from 143.22m (CDH-066), including
  • 1.71m @ 5.23 g/t gold, 160 g/t silver from 145.44m, and
  • 2.00m @ 15.6 g/t gold, 35 g/t silver from 159.0m, and
  • 1.22m @ 5.87 g/t gold, 5.5 g/t silver from 164.58m

• 1.02m @ 0.90 g/t gold, 15 g/t silver from 11.68 (CDH-066), including
  • 1.00m @ 0.48 g/t gold, 42 g/t silver from 119.8m
  • 1.37m @ 8.73 g/t gold, 397 g/t silver from 186.3m

• 4.30m @ 0.60 g/t gold, 24 g/t silver from 165m (CDH-064)
  • 5.85m @ 0.84 g/t gold, 32.8 g/t silver from 175.2m
  • 3.00m @ 0.71 g/t gold, 34 g/t silver from 201m
  • 2.50m @ 0.58 g/t gold, 38.2 g/t silver from 226.5m

• Drill plan in place to test deeper in this extension of the El Refugio structure

Mithril Resources Ltd (ASX: MTH) (Mithril or the Company) is pleased to announce further drilling results on the fully funded exploration activities at its Copalquin Gold Silver District, Mexico.

Mithril CEO and Managing Director, John Skeet, commented:

“The step out drilling to the west at El Refugio has confirmed continuation of the gold-silver mineralised structure 180m further west. These broad intercepts with high-grade gold and silver are important results for further extensions deeper and to the west at El Refugio. El Refugio continues to produce reportable intercepts with every hole drilled as we continue to expand the resource potential in this part of the Copalquin District.”

The first holes drilled west along the main El Refugio discovery have intercepted multiple gold-silver veins within the broad El Refugio structure. These first holes reported have confirmed the structure to continue 180 metres further west. Further drilling in this area will target the structure deeper and continue to test for continuation along strike.

Hole CDH-064 intercepted multiple veins down dip of holes CDH-024 and 025 within a broadening mineralised structure. This will continue to be developed at depth.

CDH-064 – 4.30m @ 0.60 g/t gold, 24 g/t silver from 165m, plus 5.85m @ 0.84 g/t gold, 32.8 g/t silver from 175.2m, plus 3.00m @ 0.71 g/t gold, 34 g/t silver from 201m, plus 2.5m @ 0.58 g/t gold, 38.2 g/t silver from 226.5m.

Holes CDH-065 and CDH-066 have stepped out along strike 100m to the west and have successfully intercepted the top of the El Refugio structure. Future drilling in this area will target and develop the structure deeper.

CDH-065 – 1.37m @ 8.73 g/t gold, 397 g/t silver from 186.3m, plus 1.00m @ 0.48 g/t gold, 42 g/t silver from 119.8m, plus 1.02m @ 0.90 g/t gold, 15 g/t silver from 111.68m.

CDH-066 – 26.78m @ 2.26 g/t gold, 25.1 g/t silver from 143.22m, including 1.71m @ 5.23 g/t gold, 160 g/t silver from 145.44m, and 2.00m @ 15.6 g/t gold, 35 g/t silver from 159.0m, and 1.22m @ 5.87 g/t gold, 5.5 g/t silver from 164.58m.

CDH-067 – drilled down dip of hole CDH-066, stopped in stockwork zone before reaching the target due to swelling clay. 1.00m @ 1.17 g/t gold, 41 g/t silver from 189.9m, and 0.71m @ 0.77 g/t gold, 23 g/t silver from 195.95m. To be re- entered and completed later in program.

Hole CDH-068 has been completed a further 80m to the west of hole CDH-066 and has intercepted the Refugio structure. Core samples from this drill hole are with the laboratory for assay.

¹ Metal equivalent grades calculated using 70 g/t Ag = 1 g/t Au, based on gold price of USD1,610 per ounce and silver price of USD23 per ounce.

Below in Figures 4 and 5 are two cross sections through the El Refugio target where the drill holes in this announcement are shown.

ABOUT THE COPALQUIN GOLD SILVER PROJECT

The Copalquin mining district is located in Durango State, Mexico and covers an entire mining district of 70km2 containing several dozen historic gold and silver mines and workings, ten of which had notable production. The district is within the Sierra Madre Gold Silver Trend which extends north-south along the western side of Mexico and hosts many world class gold and silver deposits.

Multiple mineralisation events, young intrusives thought to be system-driving heat sources, widespread alteration together with extensive surface vein exposures and dozens of historic mine workings, identify the Copalquin mining district as a major epithermal centre for Gold and Silver.

Mithril Resources is earning 100% interest in the Copalquin District mining concessions via a purchase option agreement detailed in ASX announcement dated 25 November 2019.

-ENDS-

Released with the authority of the Board.

For further information contact:

Competent Persons Statement

The information in this report that relates to sampling techniques and data, exploration results and geological interpretation has been compiled by Mr Hall Stewart who is Mithril’s Chief Geologist. Mr Stewart is a certified professional geologist of the American Institute of Professional Geologists. This is a Recognised Professional Organisation (RPO) under the Joint Ore Reserves Committee (JORC) Code.

Mr Stewart has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Stewart consents to the inclusion in this report of the matters based on information in the form and context in which it appears. The Australian Securities Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

Original Article: https://investi.com.au/api/announcements/mth/4978cd25-18b.pdf