Mithril Resources Ltd (MTH:ASX) is a precious metals exploration company that is focused on discoveries, acquisitions and production of gold and silver in Mexico’s Sierra Madre Gold Silver Trend.
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- Drilling commenced in July 2020 at the Copalquin gold-silver district, Durango, Mexico
- 2,416,000 tonnes @ 4.80 g/t gold, 141 g/t silver (6.81g/t AuEq*) for 373,000 oz gold plus 10,953,000 oz silver (Total 529,000 oz AuEq*) using a cut-off grade of 2.0 g/t AuEq*
- 28.6% of the resource tonnage is classified as indicated
- Excellent metallurgy and mining study work results
- Multiple drill targets within the 70km2 mining concession area
- On track to expand the resource base while developing/ranking the multiple drill target areas in this impressive historic mining district
- The Company is led by a proven management team covering all disciplines of precious metals exploration and mining, with successes in Mexico that delivered sizable shareholder returns.
- The management team has significant ownership of the company.
*AuEq. = gold equivalent calculated using and gold:silver price ratio of 70:1. That is, 70 g/t silver = 1 g/t gold. The metal prices used to determine the 70:1 ratio are the cumulative average prices for 2021: gold USD1,798.34 and silver: USD25.32 (actual is 71:1) from kitco.com
Copalquin District, Mexico
The Copalquin Mining District in Mexico covers 70km2 and includes several dozen gold and silver mines and workings, 10 of which had notable production including the La Soledad and El Refugio mines located in the Cometa Project area of the district.