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Mithril Resources (ASX:MTH) resumes drilling in Mexico
Source: Mithril Resources
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  • Mithril Resources (MTH) intersects 74g/t gold and 841g/t silver over 6.8 metres at its Copalquin gold-silver project in Mexico
  • The company receives impressive results from five holes drilled at the El Refugio structure
  • The latest assays extend the structure to 650 metres long and 300 metres down-dip
  • Further drilling is planned to extend it a further 1.3 kilometres to the west
  • Mithril's shares were up 20 per cent to trade at 1.8 cents

Mithril Resources (MTH) has received results from five holes drilled at its Copalquin gold-silver project in Mexico.

One hole in particular returned exceptionally high grades including 6.8 metres at 74g/t gold and 841g/t silver from 35.2 metres including 2.1 metres at 235g/t gold and 2554g/t silver from 37.9 metres.

In addition, the four other drill holes have expanded the El Refugio structure to 650 metres long and 300 metres down-dip.

Hole CDH-068 returned 4.61 metres at 1.87g/t gold and 89.3g/t silver from 155.84 metres. CDH-069 returned one metre at 2.64g/t gold and 167g/t silver from 266.35 metres.

Significantly, CDH-068 confirmed the westerly extension of the El Refugio structure and the company plans to expand it a further 1.3 kilometres to the west.

CDH-070 returned six metres at 1.41g/t gold and 66g/t silver from 240 metres including 0.5 metres at 9.53g/t gold and 613g/t silver from 240 metres. The fourth hole, CDH-071, returned 0.5 metres at 28.9g/t gold and 471g/t silver from 222.77 metres.

"With the extremely high-grade intercept in hole CDH-072 we have confirmed the bonanza grades El Cometa intercepted by the historical drilling (UC-03) and further developed the model for the complex El Cometa vein system," CEO and Managing Director John Skeet said.

Drilling is ongoing and two deep holes drilled over 400 metres intercepted multiple veins. Assays are pending.

Mithril's shares were up 20 per cent to trade at 1.8 cents at 12:45 pm AEST.

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