Mithril Resources Ltd (MTH:ASX) is a precious metals exploration company.
- Copalquin mining district in Mexico is home to five of the world’s top ten producing silver mines
- 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
- exploration accelerating in 2024-2025, with aim to at least double Target 1 resource in 2024
- 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.
*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.
Copalquin is a district scale property with several dozen historic mines and workings. Exploration work in the district since July 2020 has defined a maiden JORC mineral resource estimate as well as developing several drill target areas along two lines of historic workings.
- 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 management team has significant ownership of the company.
