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Mithril Resources (ASX:MTH) resumes drilling in Mexico
Source: Mithril Resources
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  • Mithril Resources (MTH) has entered a trading halt while it plans a material capital raise
  • While it isn't known how much will be raised or exactly what the funding will be used for, Mithril has a number of programs planned for 2021
  • The miner recently recommenced drilling at the Cometa Project in Mexico which is aimed at supporting a maiden resource by the end of the June quarter
  • Additionally, it will conduct mapping and drilling at the Reyes, Constancia and Apolonia projects, which are also located in Mexico
  • Mithril expects to come out of its trading halt by no later than Friday morning, January 29
  • Mithril last traded at 2.2 cents on Monday, January 25

Mithril Resources (MTH) has entered a trading halt while it plans a material capital raise.

The ASX-listed miner will remain in the trading halt until no later than the commencement of trading on Friday, January 29.

At this stage, it is uncertain how much Mithril will raise or what the funds will be used for. However, it seems there is a lot in the pipeline for 2021.

In an investor presentation released last November, Mithril detailed its plans for the coming year.

Earlier this month, a 7000-metre drilling program recommenced at the Cometa Project within the Copalquin mining district in Mexico. Towards the end of the month, soil sampling and mapping will commence at the La Soledad West, El Indio and Zaragosa prospects.

These programs will support a maiden resource for the Cometa Project that is planned to be released sometime in the June quarter.

Mithril also plans to conduct mapping and exploration drilling programs at the Reyes and Constancia projects as it looks to define preliminary resources by the third quarter.

Then, later this year, Mithril will undertake drilling at the Apolonia Project which is also located in Mexico's Copalquin mining district.

Mithril last traded at 2.2 cents on Monday, January 25.

MTH by the numbers
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