Mithril Resources hits bonanza grade gold and silver at newly acquired Mexican project

Mithril Resources Ltd (ASX:MTH) has hit bonanza grade gold and silver from the first two drill holes of its maiden 5,000-metre diamond core drill program at the newly acquired Copalquin Gold-Silver Project in Mexico.

The company has successfully intersected gold and silver at the La Soledad vein confirming historically reported bonanza grades.

The best results from assays include:

  • 3 metres at 34.72 g/t gold and 3,129 g/t silver including one metre at 8.4 g/t gold and 6,750 g/t silver from 114 metres;
  • 4.55 metres at 5.64 g/t gold and 325 g/t silver including 1.5 metre at 9.82 g/t gold and 574 g/t silver from 95 metres; and
  • 0.5 metres at 9.27 g/t gold and 825 g/t silver from 141.2 metres.

High grade La Soledad vein

Mithril chief executive officer John Skeet said: “We are extremely pleased to have intersected the high grade La Soledad vein with the first drill hole of the program and excited to report these bonanza grades for both gold and silver.

“The second hole located part of the old workings and also returned an excellent intersection from the footwall of the vein.”

The next six holes completed have continued to intersect the La Soledad vein at depth and further along the strike.

Challenging drilling program

The drilling program at Copalquin started at the La Soledad mine beneath the historical working and till date eight holes have been completed.

Three additional holes were abandoned at depths between 10 metres and 21 metres due to movement in rock fill drill pads following heavy August rains.

Skeet added: “It can be challenging drilling around old workings and relying on historic information.

“These first two holes have given us valuable information not just for gold and silver grRead More – Source