- Mithril Resources (MTH) has reported a high-grade gold find while undertaking exploration at the Copalquin Gold Silver District in Mexico
- A drill executed at Le Soledad yielded an encouraging intercept of 4.88 metres at 10.36 g/t gold and 80.9 g/t silver from 288.25 metres
- Mithril says the find further extends mineralisation and has likened the target’s development to a “vein swam” like system
- Meanwhile, Mithril has resumed drilling at the neighbouring El Refugio target which revealed further encouraging finds for the explorer just last week
- Mithril Resources is trading flat following the announcement at 2 cents per share
Mithril Resources (MTH) has reported a high-grade gold find while undertaking exploration at the Copalquin Gold Silver District in Mexico.
The explorer is undertaking ongoing drilling activities at the Copalquin project hosted in the district, which contains several dozen historical gold and silver mines.
Mithril reported this particular drill at La Soledad drill yielded an intercept of 4.88 metres at 10.36 g/t gold and 80.9 g/t silver from 288.25 metres, further extending the mineralisation further to the west and down dip.
The company commented La Soledad is developing as a “vein swarm” system with multiple high-grade veins intercepted.
Drilling has also resumed at the neighbouring El Refugio target, where significant gold and silver finds of 62g/t and 445g/t were reported last week, respectively.
Mithril Resources chief executive officer and managing director John Skeet says the find is demonstrating the target as a series of parallel veins open and at depth.
“As we have progressed the drilling at La Soledad and nearby at El Refugio, we are building an understanding of the relationship between the two sets of vein structures and their potential interaction at depth,” he explained.
“We will be targeting these zones of projected vein intersections as well as expanding the targets further west and to the north easterly target of El Indio identified by the recent soil sampling program,” he concluded.
Mithril Resources is earning 100 per cent interest in the Copalquin District mining concessions.
Mithril Resources is trading flat following the announcement at 2 cents per share at 11:52 am AEDT.