Mithril has one project in the West Kimberley – Billy Hills (MTH – 100%) which covers zinc-prospective rocks immediately adjacent to the former Pillara Zinc Mine 25 kms southeast of Fitzroy Crossing.
At Pillara, zinc-lead mineralisation occurs within a series of fault breccia zones that cut a sequence of Devonian limestones and had a reported pre-mine resource of 18.05 million tonnes at 7.7% Zn and 2.4% Pb and produced 10.3 Mt @ 6.9% Zn, 2.3% Pb from June 1997 to October 2003. Mining briefly resumed during 2007 / 2008 and the mine is now on care and maintenance (see Mithril’s ASX Announcement dated 21 August 2017).
Billy Hills covers the interpreted southern extension to the key faults that control the Pillara mineralisation within an area of relatively limited historic exploration activities. The bulk of historic diamond drilling and geophysical testing has taken place further to the north around the Pillara mine and its extensions.
In addition to covering the interpreted extensions to the key faults that control the Pillara mineralisation, the Billy Hills Project also contains a number of significant historic drill intersections directly along strike from previous drill intercepts of more than 10% zinc + lead over multiple metres at the Pillara West Prospect, adjacent to Mithril’s tenement holding.