Mithril Resources' (ASX: MTH) shares are expected to climb after accessing historic records from its Hendrix nickel-copper project in Western Australia.
These show grades including 9.1 metres at 2.5% nickel from 10.7 metres, and 24.4 metres at 1.2% nickel from 7.6 metres.
The shallow drilling was undertaken by International Nickel Australia (INCO) in 1970, and notabaly, there is no evidence of this drilling ever being followed-up.
Hendrix is one of four nickel–copper-platinum anomalies recently identified by Mithril at its West Kambalda Project, located 30 kilometres west of the Kambalda Nickel Mining Centre.
The anomalies occur within the Logan’s Find area which is subject to a joint venture agreement with KalNorth Gold Mines (ASX:KGM) whereby Mithril can to earn up to an 80% interest by completing expenditure of $2 million over 4 years.
At Hendrix, auger geochemical sampling by Mithril in late 2013 defined a 600 metre by 250 metre north-west trending nickel anomaly with a maximum value of 0.55% nickel, with coincident anomalous copper, platinum and palladium.
To assess the significance of the historic results and to test for potential massive nickel sulphide mineralisation, Mithril has commenced geological mapping and geophysical surveying, with results expected by the end of March.
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