Doray to run aeromag survey over Mithril gold target

THE DRILL SERGEANT: Mithril Resources (ASX: MTH) announced its exploration partner at the Duffy Well gold project, Doray Minerals (ASX: DRM), is to carry out a high-resolution aeromagnetic survey to better define two existing gold targets ahead of a program of RAB / aircore drilling, planned for the September 2016 Quarter.

Duffy Well (EL51/1649) is located in Doray’s neighbourhood, sitting 30 kilometres east of Meekatharra in Western Australia.

It covers an interpreted southern extension of the Gnaweeda Greenstone Belt where Doray has intersected high-grade gold mineralisation in RC drilling at the Turnberry prospect, including:

3 metres at 10.1 grams per tonne gold from 149m;

5m at 17.4g/t gold from 71m; and

4m at 17.9g/t gold from 45m.

“The two gold targets have been identified from a review of previous exploration at Duffy Well (which comprises reconnaissance RAB and aircore drill traverses with little or no follow-up) and are characterised by zones of structural complexity with coincident bedrock gold (+50ppb) and arsenic (+100ppm) anomalism within wide-spaced drillholes,” Mithril Resources said in its ASX announcement.

Doray exploration efforts on the project are part of the terms of a Farm-in and Exploration Joint Venture Agreement, under which it can earn up to an 85 per cent interest by reimbursing Mithril’s tenement acquisition costs and completing exploration expenditure of $500,000 over three years.

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Website: www.mithrilresources.com.au