Mithril Resources (ASX: MTH) is acquiring up to a 75% interest in the Nanadie Well Copper Gold Project in Western Australia’s Murchison District from Intermin Resources (ASX: IRC).
This includes the Nanadie Well Copper Deposit that has a JORC Resource of 36.07 million tonnes grading 0.42%, or 151,506 tonnes of contained copper over 990 metres of strike with a width of 50 metres to 100 metres.
While, Nanadie Well has never been diamond drilled, it is located within 5 metres from surface and remains open in all directions with strong potential to extend.
The project area also contains multiple drill ready targets that are prospective for copper and gold mineralisation. This includes a previously untested induced polarisation geophysical anomaly 500 metres east of the existing deposit.
The geology at Nanadie Well shares some characteristics with other Archaen Volcanic Massive Sulphide deposits in having a polymetallic nature.
Mineralisation is associated with disseminated and veined copper sulphides within a sequence of basalts, amphibolite, felsic volcanics and dolerite.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.