- Mithril Resources (MTH) has resumed drilling at its Cometa Project in Mexico after drilling was paused due to a short break over the Christmas period
- The company is drilling three holes at the El Refugio target, where there are high gold and silver grades
- Additionally, soil sampling has also commenced at El Refugio, with more programs at other prospects to begin towards the end of the month
- On the market this afternoon, Mithril is up 10 per cent and is trading at 2.2 cents per share
Mithril Resources (MTH) has resumed exploration activities at its Cometa Project in the Copalquin Gold Silver District, Mexico.
The exploration activities include a drilling campaign, which has already commenced at the El Refugio target.
Three holes are planned at the target to test the deeper extents on the eastern side where there are higher gold and silver grades and significantly greater widths to the breccia zone.
The Copalquin mining district covers 70 square kilometres and is home to several dozen historical gold and silver mines.
Additionally, soil sampling has also commenced at El Refugio, with more programs at La Soledad West, El Indio and Zaragosa prospects to start towards the end of the month.
Managing Director John Skeet said the exploration team has arrived at Copalquin after a short but well-earned break.
“Exploration activity is initially centred at the Cometa Project area with deeper
drilling on the eastern side the large epithermal system discovery at El Refugio plus the expansive soil and mapping program at El Refugio west,” he said.
“The success of the 2020 drill program in the Copalquin district has yielded the important discovery at El Refugio and has confirmed the widespread gold and silver mineralisation in other parts of the district supporting the scale of the district and its prospects of hosting significant gold and silver mineralisation,” he added.
On the market this afternoon, Mithril is up 10 per cent and is trading at 2.2 cents per share at 1:44 pm AEDT.