The company’s aircore drilling intersected broad zone of anomalous nickel, copper and platinum + palladium (PGE) within weathered ultramafic rocks.
Significant intercepts include:
- 36 metres at 0.30% nickel, 294 ppm copper, and 61 ppb PGE from surface;
- 40 metres at 0.28% nickel, 348 ppm copper, and 65 ppb PGE from 4 metres; and
- 16 metres at 0.33% copper, 449 ppm copper, and 68 ppb PGE from 8 metres.
The presence of elevated copper and PGE’s along with nickel at Mexi is highly significant as they are potentially indicative of nickel sulphide mineralisation at depth within fresh rock.
Mexi remains open both along strike and down-dip, and lies within a broader structural corridor that was interpreted from aeromagnetic and gravity data.
The corridor extends from the known high-grade nickel sulphide mineralisation at the Silver Swan nickel deposit located 9 kilometres to the south.
In addition to the new nickel prospect, several other holes ended in zones of gold anomalism that require follow-up.
Mithril will follow-up the Mexi results with a ground electromagnetic geophysical survey which is scheduled to commence within the next two weeks.