Mithril Resources identifies new gossan at Nanadie Well

THE DRILL SERGEANT: Mithril Resources (ASX: MTH) has claimed to have identified a 300 metre long zone of sub-cropping nickel gossan and copper mineralisation at the company’s Nanadie Well project southeast of Meekatharra in Western Australia.

 

Meekatharra project area showing location of Nanadie Well project. Source: Company announcement

The nickel-copper zone remains open along strike, however due to its sub-cropping nature and sand cover, the true width of the zone is unknown at this stage.

Mithril indicated the gossan is characterised by high values of nickel (up to 0.44 per cent), copper (up to 8.86 per cent) and platinum group elements (PGE’s) up to 557ppb platinum and palladium.

The nickel–copper zone lies 1.2 kilometres south east of Mithril’s Nanadie Well copper deposit (2004 JORC Code-compliant Inferred Resource of 36.07 million tonnes at 0.42 per cent copper – 151,000 tonnes copper / 74,000 ounces gold) and one kilometre south along strike from a strong geophysical (IP chargeability) anomaly which has not been previously drill tested.

Mithril stressed the nickel–copper zone remains untested by electrical geophysics (such as EM and IP) and drilling, although a ground EM survey completed by a previous explorer stopped west and south of the zone, and 2 holes drilled under the central portion of the zone failed to reach target depth.

The company said ground EM surveying will be undertaken as a priority in order to define potential drill targets along the zone.

“The nickel prospectivity of the Nanadie Well project area is further reinforced by recent petrological analysis of selected RC drill samples from the Nanadie Well copper deposit, which confirms the presence of weathered nickel sulphide minerals (violarite replacing pentlandite) associated with the copper minerals (chalcopyrite) throughout the deposit,” Mithril Resources said in its ASX announcement.

“This suggests that there is a magmatic nickel–copper sulphide component to the deposit’s mineralisation.

“The Nanadie Well project is emerging as a regionally significant exploration play, with Mithril holding over 40 strike kilometres of copper–nickel prospective Archaen greenstone stratigraphy within the project’s boundaries.”

The company explained this particular nickel gossan is the fourth priority target it has developed at Nanadie Well since it entered into a Farmin and Joint Venture agreement with the project’s owners Intermin Resources Limited (ASX: IRC) in December 2013.

Email: admin@mithrilresources.com.au

Website: www.mithrilresources.com.au