Mithril has four projects in the Kalgoorlie District – Nanadie Well, Duffy Well, Limestone Well and the Bangemall Base Metal Project.
Nanadie Well (MTH – earning 60%) is located 80 kms southeast of Meekatharra and covers a NW trending belt of Archean mafic and metasedimentary units with demonstrated prospectivity for both magmatic copper – nickel – PGE mineralisation and gold mineralisation. The project is host to the Nanadie Well Copper Deposit (JORC 2004 Inferred Resource of 36.07Mt @ 0.42% copper, 0.064g/t gold) and the Stark Copper Nickel Prospect.
Duffy Well (MTH – 100%) is located 30 kilometres east of Meekatharra covers the interpreted southern extension of the Gnaweeda Greenstone Belt which hosts high-grade gold mineralisation at the Turnberry Prospect, including 3m @ 10.1g/t gold from 149 metres, 5m @ 17.4g/t gold from 71 metres, and 4m @ 17.9g/t gold from 45 metres.
Previous explorers at Duffy Well have identified a number of gold targets typically characterised by zones of structural complexity with coincident bedrock gold (+50ppb) and arsenic (+100ppm) anomalism within wide-spaced drill holes.
Limestone Well (MTH – 100% and Auteco Minerals earning up to 80%) is located south of Nanadie Well, immediately north along strike of the Barrambie Titanium Vanadium Deposit (2012 JORC Inferred + Indicated Resource of 280.1Mt @ 9.18%TiO₂ and 0.44%V₂O₅) and as such, is highly prospective for vanadium mineralisation.
Under the terms of a Farmin and Joint Venture Agreement, Auteco Minerals can earn up to an 80% interest in the tenements by completing expenditure of $2.5M over 5 years. Auteco Minerals must also spend $150,000 on an aircore drilling program within the first twelve months (i.e. by August 2019).
The Bangemall Base Metal Project (MTH – 100%) is located 300 kms north west of Meekatharra and west of the Abra Lead Silver Deposit (2012 JORC Code Compliant Indicated and Inferred Resource of 36.6Mt @ 7.3% lead, 18g/t silver) within a similar geological setting.
The project covers the interpreted western extension of the Lyons River Fault Zone, a large regional scale structure that controls mineralisation at Abra, within an area of similar Proterozoic sediments that host the Abra deposit.
The area’s prospectivity is highlighted by historic surface rock chip sampling and wide spaced drilling, some of which has returned strong indications of copper and zinc mineralisation (see Mithril’s ASX Announcement dated 5 June 2018);
- Rock chip samples with individual assay values up to 17.5% copper, 2.4% lead, 3.70% zinc, and 120ppm silver
- Drilling – 48m @ 2,709ppm Zn from 54 metres in ISBD1, 5m @ 5,940ppm Zn from 130 metres in ISBD2, and 21m @ 3,488ppm Zn from 315 metres in ISBD3