Mithril has two projects in the Kalgoorlie District – Lignum Dam and Kurnalpi which are both subject to separate farmin agreements.
Located 60 kilometres northeast of Kalgoorlie WA, Lignum Dam is prospective for both nickel sulphide and lode gold mineralisation and lies along strike from the previously mined high-grade Silver Swan nickel deposit.
Mithril has recently entered in to a Farmin and Joint Venture with Great Boulder Resources (GBR.ASX) (see Mithril’s ASX Announcement dated 9 September 2019) whereby they can earn up to an 80% interest in the project by completing expenditure of $1M over four years.
Located 80 kilometres northeast of Kalgoorlie WA, Kurnalpi is prospective for nickel sulphide mineralisation and lies along strike from the Grey Dam Nickel Cobalt Deposit (14.6Mt @ 0.75% Ni and 0.049% Co for 110,000t nickel metal and 7,200t cobalt metal). The ultramafic host rock that underlies the Grey Dam Deposit is interpreted to extend onto the Kurnalpi tenements.
Mithril has entered into an Option Agreement with Carnavale Resources (CAV.ASX) whereby they can acquire an initial 80% interest in the project by keeping the tenements in good standing and paying Mithril $250,000 cash within a three-year period (see Mithril ‘s ASX Announcement dated 11 November 2019).