Mithril has four projects in the Kalgoorlie District – Kurnalpi, Lignum Dam and North Scotia 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 in March 2018 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 and North Scotia (MTH – 100%) are located 50 – 75 kilometres north-northeast of Kalgoorlie and cover 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 – 35%) 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.
Mithril’s exploration partner at Spargos Reward – Corona Resources Limited has a 65% interest in the Project and has elected to earn a further 20% interest (for a total of 85%) by sole funding exploration through to the completion of a positive scoping study on a 2012 JORC Code Compliant Mineral Resource.
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).