- Mithril Resources (MTH) has intersected up to 445g/t silver from the El Refugio target within the Copalquin gold-silver project in Mexico
- Work resumed in January with the aim of testing the depth extensions of El Refugio and infill the area to the east
- Best results come from hole 50, which intersected up to 62g/t gold and 445g/t silver
- Further drilling has been planned to target depth extensions and extend the mineralisation to the west
- Mithril is up 4.76 per cent and shares are trading at 2.2 cents
Mithril Resources (MTH) has intersected up to 445g/t silver from the El Refugio target within the Copalquin gold-silver project in Mexico.
The Copalquin Project lies in the Copalquin Gold Silver District which contains several dozen historical gold and silver mines.
Following its successful 2020 maiden drilling program, Mithril resumed work in January, aiming to test the depth extensions of El Refugio and infill the area to the east.
The best result came from hole CDH-050, which intersected 4.17 metres at 62g/t gold and 445g/t silver from 233.43 metres.
This result supports the idea that grade significantly increases at depth and visible gold has been identified in the drill core.
Other results include 3.4 metres at 4.72g/t gold and 170.8g/t silver from 135.6 metres, 11.6 metres at 2.28g/t gold and 55.3g/t silver from 151 metres and 8.07 metres at 0.92g/t gold and 39.2g/t silver from 143.8 metres.
Further drilling has been planned to target depth extensions and extend the mineralisation to the west.
Additionally, results are pending for holes CDH-054 to CDH-060 from the neighbouring La Soledad and Los Reyes targets.
“The very high-grade gold and silver at El Refugio is important in establishing the strength of this epithermal centre for gold and silver in the district,” CEO and Managing Director John Skeet said.
“Further drilling at El Refugio will seek to systematically extend the mineralisation and test for further ‘calves’ (ore shoots), typical in these types of deposits,” he added.
Mithril is up 4.76 per cent and shares are trading at 2.2 cents at 11:27 am AEDT.