THE DRILL SERGEANT: Mithril Resources (ASX: MTH) has commenced Fixed Loop Electromagnetic (FLEM) and Downhole Electromagnetic (DHEM) surveys at the Stark prospect, located 80 kilometres south east of Meekatharra in Western Australia.
The company is conducting the studies to define its next round of drill targets.
Results from the surveys are expected by mid-May 2015.
Mithril said the aim of the surveys is to identify further occurrences of massive sulphide mineralisation adjacent to copper-nickel-PGE drill intercepts it announced in March, including:
16.37 metres at 0.4 per cent copper, 0.07 per cent nickel, and 0.2g/t (gold + platinum + palladium PGEs) from 213.43m in, including 0.27m at 0.41 per cent copper, 1.62 per cent nickel, and 1.6g/t PGEs from 213.43m and 0.43m at 2.19 per cent copper, 0.12 per cent nickel, and 0.77g/t PGEs from 213.7m; and
0.6m at 3.81 per cent copper, 0.05 per cent nickel, 1.05g/t PGE’s, and 19.1g/t silver from 246.35m, including 0.15m at 13.7 per cent copper, 0.16 per cent nickel, 3.94g/t PGEs, and 73.7g/t silver from 246.35m.
“Copper-nickel-PGE mineralisation drilled to date at Stark is associated with disseminated and massive sulphides (pyrrhotite-chalcopyrite-pentlandite-pyrite) that occur within, at, and below the base of a mafic (gabbro) intrusion,” Mithril Resources said in its ASX announcement.
“Limited drilling undertaken by Mithril to date has intersected copper-nickel-PGE mineralisation over a one kilometre strike length with the best grades occurring at the southern end of the zone where the current EM surveys will be focussed.
“Mineralisation throughout the zone remains open in all directions.”
The Stark prospect is situated within the Nanadie Well project on tenements subject to a Farmin and Joint Venture Agreement Mithril has with Intermin Resources (ASX: IRC).
Under the terms of the JV, Mithril can earn a 60 per cent interest in the project tenements by completing expenditure of $2 million by 14 April 2018, and an additional 15 per cent by completing further expenditure of $2 million over a further two years.