Mithril Silver and Gold (ASX:MTH) Drills 114 g/t gold, 1,162 g/t silver at shallow depth
20 September 2024
Price Sensitive Announcement $
Highlights:
Mithril Silver and Gold Limited (“Mithril” or “the Company”) (MTH:ASX) announces results from
drilling at its Copalquin District project, Mexico.
Drilling has continued at the Target 1 area (El Refugio) in the Copalquin District with another project and globally significant drill intercept.
CDH-159 was drilled into a structure on the eastern side of the Target 1 area (El Cometa) returning the highest-grade intercept drilled at the property to date (1,180 g/t x m AuEq1):
33.00m @ 31.8 g/t gold, 274 g/t silver from surface, including
7.00m @ 144 g/t goldk 1,162 g/t silver from 18m including
2.00m @ 495 g/t gold, 3,765 g/t silver from 20m plus including
1.00m @ 26.9 g/t gold, 201 g/t silver from 28m
CDH-159 was designed to test the recently mapped and channel sampled structure that had been previously intersected by CDH-072 (6.8m 74.0 g/t gold, 840 g/t silver from 35.2m), from a different orientation. With this new data, a second hole has been drilled along strike (CDH-161) with assays pending. Three holes have been drilled down dip of the historic Refugio mine workings, where extensive mapping and channel sampling was completed earlier this year also with assays pending.
Drilling is currently in progress on the western side of the Target 1 resource area.
Company Notes:
John Skeet, Mithril’s Managing Director and CEO commented:
“Hole CDH-159 is a globally significant >1,000 g/t AuEq1 x metre drill hole at the maiden resource Target 1 area where we aim to 2X the (529koz @6.81 g/t AuEq1 ) resource in Q1 2025. The intercept includes a zone of lower grade material from surface plus a very high-grade zone from 16 metres down hole, including the typical bonanza gold and silver grades that are a hallmark of this important mining district.
With the exceptional dill results combined with our recent LiDAR survey, district access road upgrade works and development of the district geologic model, Copalquin continues to progress as another significant gold-silver district in Mexico’s prolific Sierra Madre Trend.”
Full ASX Announcement: 2A1549556.pdf (discoveryalert.com.au)