- Mithril Resources (MTH) releases its maiden JORC mineral resource estimate (MRE) for the El Refugio-La Soledad target area in Mexico
- The MRE outlines 2.41 million tonnes at 4.80 grams per tonne (g/t) gold and 141 g/t silver for 373,000 ounces of gold and 10.95 million ounces of silver
- Around 28.6 per cent of the resource tonnage is classified as indicated with the remainder classified as inferred
- Drilling is continuing at El Refugio-La Soledad with a focus along strike from recently drilled hole CDH-094, which intersected up to 9.64 g/t gold and 278.8 g/t silver
- Shares in Mithril Resources are up 2.78 per cent on the market and are trading at 1.9 cents
Mithril Resources (MTH) has released its maiden JORC mineral resource estimate (MRE) for the El Refugio and La Soledad target area in Mexico.
The El Refugio-La Soledad target is part of the Copalquin Gold Silver Project, which lies within the Copalquin Gold Silver District and hosts several dozen historical gold and silver mines.
The MRE, which was completed by AMC Consultants, outlines 2,416,000 tonnes at 4.8 grams per tonne (g/t) gold and 141 g/t silver, representing 373,000 ounces of gold and 10,953,000 ounces of silver.
Around 28.6 per cent of the resource tonnage is classified as indicated with the remainder classified as inferred.
“This is an excellent result for our maiden mineral resource estimate from the first 14 months of drilling in the Copalquin District with a single diamond core drill rig,” Managing Director and CEO John Skeet said.
“The data generated allows us to efficiently expand and infill the Refugio-La Soledad target, whilst continuing expansive exploration in the Copalquin District with its multiple gold-silver targets and historic mines.”
Drilling is continuing at El Refugio-La Soledad with a focus along strike from the recently drilled hole CDH-094, which intersected up to 9.64 g/t gold and 278.8 g/t silver.
Shares in Mithril Resources were up 2.78 per cent on the market and were trading at 1.9 cents at 1:08 pm AEDT.