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Mithril Resources (ASX:MTH) - Managing Director & CEO, John Skeet - The Market Herald
Managing Director & CEO, John Skeet
Source: Listcorp
  • Mithril Resources (MTH) has identified a large hydrothermal gold-silver system at the El Refugio target in Mexico
  • The company has received results from a further four holes at El Refugio with grades peaking at 14.75g/t gold and 185g/t silver
  • These results indicate the top of a large and extensive hydrothermal system with 15 metres to 30 metres of quartz breccia zones intercepted with high-grade veins
  • Further, Mithril has completed drilling at the Reyes and Constancia projects, with assay results pending
  • Drilling has also begun at the Apolonia project, which will complete Mithril's maiden drill program for 2020
  • Mithril is up 3.85 per cent on the market with shares trading at 2.7 cents

Mithril Resources (MTH) has identified a large hydrothermal gold-silver system at the El Refugio target.

El Refugio is part of the Cometa project which lies within the Copalquin Gold Silver District in Mexico.

This mining district covers 70 square kilometres and contains several dozen historic gold and silver mines, 10 of which have notable production.

Mithril has received results from a further four holes at El Refugio with up to 14.75g/t gold and 185g/t silver being intersected.

The full results read one metre at 16.63g/t gold equivalent (14.75g/t gold and 150g/t silver) plus 0.8 metres at 6.18g/t gold equivalent (3.87g/t gold and 185g/t silver).

These results indicate the top of a large and extensive hydrothermal system at Cometa with 15 to 30 metres of quartz breccia zones intercepted with high-grade veins.

"The maiden drill holes at the El Refugio target have shown the area to be part of a large hydrothermal system. The broad quartz breccia zones punctuated with high-grade gold-silver veins has been drill tested over 300 metres and is building the model of a large gold-silver system," CEO and Managing Director John Skeet commented.

"This alteration is observed to extend at least 1.5 kilometres west of El Refugio in addition to the widespread alteration and rhyolitic dome intrusives in the Copalquin district," he said.

"The extension of the Cometa project at depth and along strike is a key feature of exploration for 2021," he added.

Further, Mithril has completed drilling at the Reyes and Constancia projects with assay results pending.

Drilling has also begun at the Apolonia project, which will complete Mithril's maiden drill program for 2020.

"The first drill holes completed at the Reyes, Constancia and Apolonia projects will provide further indication of the gold and silver grade potential in these areas. 2021 will be an exciting year for Mithril as we continue to develop this large epithermal system for gold and silver," John concluded.

Mithril is up 3.85 per cent on the market with shares trading at 2.7 cents at 1:23 pm AEDT.


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