Mithril Resources reports high grade nickel-cobalt at Kurnalpi
Time:Wed, 13 Dec 2017 05:58:24 +0800
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Mithril Resources Ltd announced that a review of historic drilling data has identified a high-grade nickel-cobalt target at its 100%-owned tenement which is located at Kurnalpi, approximately 70 kms east of Kalgoorlie, WA.
New target identified from review of historic drilling data with strong nickel-cobalt intercepts;
1. 42m @ 1.25% nickel, 0.07% cobalt from 24 metres including 6m @ 1.78% nickel, 0.20% cobalt from 28 metres
2. 10m @ 0.70% nickel, 0.11% cobalt from 30 metres including 3m @ 0.92% nickel, 0.21% cobalt from 34 metres
3. 8m @ 0.58% nickel, 0.20% cobalt from 24 metres
4. 12m @ 0.76% nickel, 0.10% cobalt from 36 metres, and
5. 19m @ 1.08% nickel, 0.07% cobalt from 33 metres including 6m @ 1.17% nickel, 0.11% cobalt from 35 metres
EM geophysics and infill drilling planned as soon as possible
On the tenement, historic drilling carried out on nominal 80 x 80 metre centres over a linear magnetic anomaly has intersected strong nickel-cobalt intercepts over an area 250 metres wide by 600 metres strike within weathered ultramafic rocks, including.
1. 42m @ 1.25% nickel, 0.07% cobalt from 24 metres in KURC22 including 6m @ 1.78% nickel, 0.20% cobalt from 28 metres,
2. 10m @ 0.70% nickel, 0.11% cobalt from 30 metres in KURA38 including 3m @ 0.92% nickel, 0.21% cobalt from 34 metres,
3. 8m @ 0.58% nickel, 0.20% cobalt from 24 metres in KURA400,
4. 12m @ 0.76% nickel, 0.10% cobalt from 36 metres in KURA406, and
5. 19m @ 1.08% nickel, 0.07% cobalt from 33 metres in KURA42 including 6m @ 1.17% nickel, 0.11% cobalt from 35 metres.
Maximum values from any one single sample are 2.04% nickel (2 metre composite sample in KURC22), 0.33% cobalt (4 metre composite sample in KURA400) and 0.28% copper (2 metre composite sample in KURC42). The presence of elevated copper may be indicative of nickel sulphide mineralisation within the target area.
Mithril is greatly encouraged by the newly identified nickel-cobalt target at Kurnalpi and plans to undertake EM geophysical surveying and infill drilling as soon as possible once statutory approvals are in place.
Mithril Resources Limited is an Australian resources company whose objective is the creation of shareholder wealth through the discovery and development of mineral deposits.
The Company is actively exploring throughout the Western Australian Goldfields and Kimberley Districts for economic gold, copper, nickel and zinc.
The Company is also exploring South Australia’s far western Coompana Province for magmatic nickel copper deposits with OZ Minerals Limited.
