Mithril Resources has intersected visible gold and silver during drilling of three targets at its Copalquin gold-silver project in Mexico.

The drilling of the El Refugio, La Soledad and Los Reyes targets at Copalquin by Mithril (ASX:MTH) intersected targeted geological structures in several holes, with 12 diamond drill holes and an extensive soil sampling program completed.

Abundant visible gold was observed in a 15cm section of vein in core taken from drill hple CDH-050 at Refugio. The vein was characterised by abundant black sulphide (ginguro) which is made up of silver sulphides and sulphosalts, as well as gold.

The same interval also contained kaolinite, a clay material only formed under very acidic conditions.

Mithril said acid conditions in a low sulphidation system were considered an indicator of fluid-mixing – a process known to be a very efficient trigger for gold/silver deposits.

Gold has also been seen in other holes, including CDH-001 and CDH-003 at La Soledad.

Visible gold on show in core from Mithril’s Copalquin project
Visible gold and silver minerals in core from separate holes drilled at El Refugio from 234m (left) and 157.3m (right). Pic: supplied.

Mithril managing director and CEO John Skeet said assays for the holes were pending.

“We are very pleased to be observing native gold and other important minerals in core sections drilling at El Refugio and eagerly await the assays from the external assay laboratory,” he said.

“Our first soil sampling program for 2021 has been completed with results also due for release shortly.”

Drill and water supply are being set up for the next campaign at the project, which is scheduled to begin this month and incorporate holes at El Refugio and El Refugio West.

Mithril has previously reported standout results from El Refugio, noting a 4m interval grading 16.44 grams per tonne gold and 286.8 grams per tonne silver from 207m, within a broader zone of 9.35m at 7.84g/t gold and 138.1g/t silver from 206.3m, in an announcement late last year.

The project sits in the historically significant Copalquin mining district, home to some of the world’s most significant gold and silver mines.

Visible gold on show in core from Mithril’s Copalquin project
The Copalquin district location and some major mining companies operating in the Sierra Madre gold-silver trend and in Mexico. Pic: Supplied.



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.