Mithril Resources Ltd (ASX:MTH), which is focused on lithium and gold exploration in Australia, has identified a number of priority exploration targets for follow-up at its Lignum Dam Gold Project located 50 kilometres north-north-east of Kalgoorlie in Western Australia.
These targets have been identified directly along the strike from the KalNorth Gold Mines Ltd (ASX:KGM) owned Lindsay’s Gold Project which has a resource of 3.97 million tonnes at 1.7 g/t gold for 215 kilo ounces of contained gold.
The targets have relied upon historical gold intercepts of 3 metres at 1.40 g/t gold from 17 metres, including 1 metre at 2.26 g/t gold at the bottom of the drill hole.
Mithril is planning geological mapping and sampling in the ensuing weeks at Lignum Dam, a wholly-owned, recently granted project covering 200 square kilometres.
Doray Minerals Ltd (ASX:DRM), the company’s exploration partner in the Duffy Well Gold Project, located 30 kilometres east of Meekatharra, Western Australia, will commence a high-resolution aeromagnetic survey to better define two gold targets at the said Project in the coming quarter.
The Duffy Well Project is located in the southern extension of the Gnaweeda Greenstone Belt where Doray has received gold intercepts including 3 metres at 10.1 g/t gold from 149 metres and 5 metres at 17.4 g/t gold from 71 metres.
Apart from its gold exploration activities, Mithril is conducting lithium and cobalt exploration at the Leaky Bore Project in the Northern Territory and at Spargos Reward near Kalgoorlie.
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