Mithril Resources (ASX: MTH) has announced ‘thick, high grade’ intercepts from ongoing drilling at its mining concessions in Mexico’s Copalquin Gold Silver District.
Results from hole CDH-094 at the El Refugio target include 18.67m @ 9.64 g/t Au and 278.8 g/t Ag from 144.0m, including 9.30m @ 17.9 g/t Au, 482.2 g/t Ag from 148.89m.
“The intercept in drill hole CDH-094 demonstrates the Refugio structure continuity west to the next ridge with thick high-grade gold-silver mineralisation”
Speaking on the results, Mithril Resources CEO and Managing Director John Skeet said: “The intercept in drill hole CDH-094 demonstrates the Refugio structure continuity west to the next ridge with thick high-grade gold-silver mineralisation. Drilling is continuing at El Refugio with hole CDH-096, our deepest hole to date (504m), with a broad quartz breccia zone in the last 50m of the hole. The intercepts are in line with the geologic model and El Refugio continues to expand at depth and west, outside the first resource area within our 70 square kilometre Copalquin Mining District.”
Data from drilling is set to be used to formulate a maiden JORC mineral resource estimate, which the company reports is due by the end of 2021.
Conceptual underground mine development at the El Refugio gold-silver deposit, with hole CDH-094 visible downhillMithril’s 70km² Copalquin concessions, located 4 hours north of the city of Culiacan, encompass several dozen historic gold-silver mines and workings, of which ten have delivered significant production.
Copalquin sits within the Sierra Madre Gold Silver Trend, which travels north-south along western Mexico and is home to a range of ‘world-class’ gold and silver deposits.
Images: Mithril Resources Ltd
