Date: Oct 31, 2018
Mithril Resources Limited ( <>
Key Points
Billy Hills (Zinc)
– Targeting large scale zinc + lead + silver deposits similar to the nearby Pillara deposit
– Four initial targets characterised by elevated rock chip results up to 14.24% zinc + lead, an untested IP geophysical anomaly and broad zones of bedrock anomalism in historic drill intercepts prioritised for follow-up
Kurnalpi (Nickel)
– A new copper-cobalt target identified with 1.46% copper, 1.12% cobalt returned from sampling of historic drill spoils on a newly acquired tenement at southern end of project
Bangemall (Copper, Lead, Zinc)
– Multiple targets identified along strike from the Abra Deposit
– Prospectivity highlighted by airborne EM (GEOTEM) anomalies with overlapping anomalous surface geochemistry, and / or zones of copper and zinc in historic drill holes
Corporate
– Mithril entered into a new Vanadium Joint Venture with Monax Mining Ltd (Monax) at Limestone Well, whereby Monax can earn 80% by completing exploration expenditure of $2.5M over 5 years.
– Limestone Well lies directly north along strike from the Barrambie Titanium Vanadium Deposit (2012 JORC Inferred + Indicated Resource of 280.1Mt @ 9.18%TiO2 and 0.44%V2O5)
Exploration Plan for next Quarter
– Execution of a Heritage Protection Agreement for the Billy Hills Project,
– Continuation of target generation activities for the Billy Hills, Bangemall and Duffy Well Projects, and
– Aircore drilling at Limestone Well (funded by Monax)
