Mithril confirm extensive gold-silver intercepts at El Refugio

Drilling results show multiple vein intercepts stretch to the west in the El Refugio structure.

The El Refugio target is located within the notable Copalquin mining district in Durango State, Mexico and contains 70 sqkm of historic gold and silver mines, 10 of which had significant production.

Mithril Resources (ASX: MTH) plans to test deeper after the first holes, which were drilled west of the main El Refugio discovery, intercepted multiple gold-silver veins. Results demonstrated the structure persisting for a further 100 metres with testing to continue along the strike.

CEO and managing director John Skeet said: “The step out drilling to the west at El Refugio has confirmed continuation of the gold-silver mineralised structure 180 metres further west These broad intercepts with high-grade gold and silver are important results for further extensions deeper and to the west of El Refugio.”

“El Refugio continues to produce reportable intercepts with every hole drilled as we continue to expand the resource potential in this part of the Copalquin district.”

Mithril Resources earns 100% interest in the Copalquin district mining concessions via a purchase agreement and all exploration activities are fully funded.

Drilling results

There are several key holes of note.

CDH-064 which intercepted the structure down dip of holes CDH-024 and CDH-025 with multiple points intercepted within a broadening mineralised structure. Results at this hole include:

4.30m @ 0.60 g/t gold, 24 g/t silver from 165m

5.85m @ 0.84 g/t gold, 32.8 g/t silver from 175.2m

3.00m @ 0.71 g/t gold, 34 g/t silver from 201m

2.50m @ 0.58 g/t gold, 38.2 g/t silver from 226.5m

CDH-065 stepped out along the strike a further 100 metres to the west and successfully intercepted the top of the El Refugio structure. Future drilling is planned to develop the structure deeper. Results at this hole include:

1.02m @ 0.90 g/t gold, 15 g/t silver from 111. 68

1.00m @ 0.48 g/t gold, 42 g/t silver from 119.8m

1.37m @ 8.73 g/t gold, 397 g/t silver from 186.3m

CDH-066 was positioned along with CDH-065 and will also have future drilling planned. Results at this hole include:

26.78m @ 2.26 g/t gold, 25.1 g/t silver from 143.22m (CDH-066), including

1.71m @ 5.23 g/t gold, 160 g/t silver from 145.44m, and

2.00m @ 15.6 g/t gold, 35 g/t silver from 159.0m, and

1.22m @ 5.87 g/t gold, 5.5 g/t silver from 164.58m

Two other drill points were targeted with results not yet confirmed. Drilling at CDH-067 was stopped due to intercepting clay material, but is expected to be revisited at a later date. CHD-068 was completed further west of CDH-066 where the Refugio structure was also intercepted. Core samples from this drill hole are being reviewed for assay.

This article was developed in collaboration with Mithril Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.