Mithril Resources (ASX: MTH) has identified three priority copper targets from recent review of historic data over its Nanadie Well Project about 100 kilometres southeast of Meekatharra, Western Australia.
These targets have the potential to increase the size and grade of the existing Nanadie Well Deposit, which has a 2004 JORC Inferred Resource of 36.07 million tonnes at 0.42% copper.
The deposit remains open in all directions and was defined by reverse circulation only.
Resources were estimated over 900 metres strike length from just below the surface (< 5 metres) to a maximum depth of 220 metres and with a true width estimate varying between 50 – 150 metres.
Field programs consisting of geological mapping and rock chip sampling are currently underway.
The company will also shortly commence a review to identify further priority copper targets over the adjacent Copper Hills Project.
Drill testing of priority targets on both projects is planned for the second half of 2014.
Mithril can earn up to a 75% interest in Nanadie Well from Intermin Resources (ASX: IRC) by completing expenditure of $4 million over 6 years.
It can also earn up to 80% interest in Copper Hills from Doray Minerals (ASX: DRM) by completing expenditure of $1 million over four years.
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.