Mithril's Exploration Drilling in Mexico Produces High Silver and Gold Assays

2 min read | October 18, 2024 03:14 PM AEDT | By Team Kalkine Media

Google News:

Mithril's Exploration Drilling in Mexico Produces High Silver and Gold Assays — Image source: Shutterstock

Recent News

ATR (ASX:ATR), BBN (ASX:BBN), TEA (ASX:TEA): Why These ASX Picks Are D...

SDI (ASX:SDI): Why This Dental Company Is Leaving the ASX

ASX 200 Today: Judo Capital Slides As Healthcare Shines And Uranium St...

ASX 200: Why Is BHP (ASX:BHP) Driving Dividend Buzz?

Make Kalkine Media
My Trusted Source

Highlights:

Mithril Silver and Gold Ltd discovers high-grade silver and gold at its Copalquin District project in Mexico.

Recent drilling results indicate substantial expansion potential for the resource at Target 1.

The company plans an additional 5,000 meters of drilling to further explore the area.

Mithril Silver and Gold Ltd (ASX:MTH) has announced the discovery of high-grade silver and gold at its Copalquin District project in Mexico. The latest drilling program aims to expand the resource of Target 1, revealing silver grades of up to 997 grams per tonne (g/t) and gold grades reaching 28 g/t.

Drilling assays from one hole returned impressive results, including 4.60 meters at 5.51 g/t gold and 182.4 g/t silver from a depth of 99 meters. Notably, this included a subsection of 2.40 meters at 10.24 g/t gold and 335 g/t silver, with the most remarkable segment showing 0.60 meters at 28.0 g/t gold and 997 g/t silver from 100.40 meters. This hole was strategically drilled in an area shallower than the initial resource model, specifically near the historic El Refugio mine workings on the western side of the Target 1 resource area.

Another hole, located on the eastern side of the resource area, produced results such as 9.00 meters at 2.06 g/t gold and 90.26 g/t silver from 98 meters, including 1.00 meter at 2.14 g/t gold and 259 g/t silver from 99 meters. This hole also yielded 1.60 meters at 5.09 g/t gold and 299 g/t silver from 125.60 meters, including a notable 0.50 meter at 12.15 g/t gold and 758 g/t silver from 126.7 meters.

Mithril’s managing director and CEO, John Skeet, remarked on the strong potential for the project, emphasizing that drilling into untested areas continues to expand the resource footprint with high to exceptionally high-grade results. Plans are in place to complete a further 5,000 meters of drilling over the coming months to explore additional targets identified through ongoing LiDAR survey interpretations and field mapping. The Copalquin District property is poised to become one of the world-class gold-silver districts within Mexico's Sierra Madre Gold-Silver Trend.

Following the announcement, Mithril shares experienced a significant rise, trading notably higher in response to the news.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.