- Mithril Resources (MTH) intercepts more high-grade gold-silver during drilling at El Refugio, extending the find by 80 metres to the east
- Best results from the latest two drill holes include 4.19 metres at 18.1 grams per tonne gold and 810 g/t silver from 90 metres
- MTH labelled the results pleasing as it continues to test the extend of the high-grade silver-gold at El Refugio — part of the Copalquin district in Mexico
- The company is also planning up-dip drilling of a hole which hit bonanza intercepts of 8.26 metres at 80.3 g/t gold, 705 g/t silver
- Mithril Resources shares are up 11.1 per cent at 2 cents each
Mithril Resources (MTH) has intercepted more high-grade gold-silver during drilling at El Refugio, extending the find by 80 metres to the east.
The exploration company has been carrying out drilling at El Refugio, which is located within the Copalquin Gold Silver District in Mexico.
In these latest two holes, MTH had been testing the area to the east of previous drilling to search for extensions.
Best results from the latest drilling include 12.4 metres at 7.6 grams per tonne gold, 332 g/t silver from 86.6 metres, including 4.19 metres at 18.1g/t gold and 810 g/t silver from 90 metres.
Mithril CEO and Managing Director John Skeet said the results from both holes were pleasing.
“Drilling on the eastern side of El Refugio extends the high-grade gold and silver 80 metres east,” Mr Skeet said.
“The broad, high-grade intercepts provide a significant boost to the resource potential in this part of El Refugio.”
MTH has also begun drilling up dip of a hole at El Refugio which previously hit bonanza intercepts of 8.26 metres at 80.3 g/t gold, 705 g/t silver.
“A program of deep holes proximal to the bonanza grade intercept of hole CDH-077 has commenced consisting of 6 holes to fill the area up and down dip of the intercept and to the west,” Mr Skeet said.
“The first of these holes is complete, with gold and silver sulphide mineralisation observations consistent with previous El Refugio structure intercepts.”
Mithril has appointed a consulting firm to help it generate a JORC-compliant maiden resource estimation at El Refugio.
Company shares were trading up 11.1 per cent at 2 cents each at 10:47 am AEST.