Mithril Resources’ (ASX: MTH) ongoing geological mapping and detailed surface geochemical sampling has confirmed Mini Me West, Bessie’s Reward and Red Rock Bore in the Northern Territory as priority copper targets for drill testing in the September quarter.
Gossan samples have also returned elevated copper and zinc at the newly identified Frank’s Find target.
Mini Me West – the highest priority copper target is located about 150 kilometres east of Alice Springs and lies within the eastern half of the Illogwa iron ore, copper and gold Area.
The target comprises an 800-metre long coincident EM and IP geophysical anomaly.
Newly completed geological mapping demonstrates that the combined geophysical anomaly overlays a 400-metre long zone of sporadically outcropping quartz veining, disseminated copper mineralisation and associated haematite alteration.
Modeling suggests that the geophysical anomalies are two parallel steeply dipping bodies which may be attributable to sulphide mineralisation.
Bessie’s Reward is located 80 kilometres east of Alice Springs and comprises multiple gossan outcrops within a 450 metre by 150 metre area. Previously reported 2013 rock chip sampling had returned results of up to 9.69% copper, 2.13% zinc, and 108g/t silver.
The target was last explored in the early 1980’s with three shallow (less than 80 metres), wide spaced reverse circulation holes intersecting broad zones of copper mineralisation (up to 0.33% copper) from surface.
Its potential to host high grade copper mineralisation at depth remains unknown.
Red Rock Bore is located 60 kilometres north of Alice Springs where outcropping zinc-lead-copper mineralisation has been continuously drilled by previous explorers on nominal 50 metre-spaced sections over 1 kilometre strike length to an average vertical depth of 100 metres.
This has returned a best result of 12.3 metres @ 3.7% zinc, 0.6% lead, and 0.09% copper from 131.30 metres in RRK031 including 1 metre at 13.6% zinc, 0.1% lead, 0.08% copper from 132.30 metres.
The newly recognised Frank’s Find target is located 50 kilometres north of Alice Springs and comprises multiple occurrences of gossanous float material within a 300 metre be 100 metre area.
Initial rock chip sampling has confirmed that the gossan material is anomalous in copper and zinc and may represent the weathered surface expression of further copper – zinc sulphide mineralisation at depth.
Separately, the company has completed all of the conditions precedent to the Farm-in and Joint Venture Letter Agreement with KalNorth Gold Mines (ASX: AGM) whereby Mithril can to earn up to an 80% interest in the Spargoville Gold Project, Western Australia.
This is located immediately adjacent to Mithril’s Spargos Reward Gold Project and the two projects are collectively referred to as the West Kambalda Project Area, located about 30 kilometres west of Kambalda in the Eastern Goldfields.
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