Mithril has three projects in the Kalgoorlie District – Kurnalpi, Lignum Dam and Spargos Reward.
Kurnalpi (MTH – 100%) is located 60 kilometres north east of Kalgoorlie and covers a sequence of Archean ultramafic / mafic rocks that are prospective for nickel sulphide mineralisation.
Drilling undertaken by Mithril at the northern end of the project has confirmed the presence of nickel sulphide mineralisation with a 4-metre zone of gossanous weathered ultramafic and several other narrow intervals of disseminated nickel sulphide mineralisation intersected beneath a flat-lying zone of near-surface nickel-cobalt mineralisation.
The prospective ultramafic also continues south along strike from the nickel sulphides for over 7 kilometres within Mithril’s tenements.
Lignum Dam (MTH – 100%) is located 60 kilometres north-northeast of Kalgoorlie and covers a package of gold and nickel prospective Archaean mafic, ultramafic, and felsic rock types along strike from previously mined high-grade nickel sulphide mineralisation at the Silver Swan and Scotia nickel deposits.
The tenements remain relatively unexplored with the main historic activity being shallow RAB / aircore drilling on wide-spaced regional traverses. This drilling identified several areas of elevated nickel confirming the presence of prospective rock types (i.e. ultramafic) that require follow-up.
Spargos Reward (MTH – 15%) is located 55 km south of Kalgoorlie and contains the historic Spargos Reward Gold Deposit which produced approximately 30Koz gold @ 8 g/t from a small underground mine during the 1940’s and early 1980’s. Spargos Reward is being explored by Mithril’s exploration partner – Corona Resources Limited. A maiden 2012 JORC Code compliant Indicated and Inferred Mineral Resource of 1.01Mt @ 3.9g/t gold (126Koz contained gold) was estimated for the gold deposit by Corona in 2017 (see Mithril’s ASX Announcement dated 23 May 2017).