Mithril Resources Ltd (MTH:ASX) is a precious metals exploration company headquartered in Melbourne, Australia that is focused on discoveries, acquisitions and production of gold and silver in Mexico’s Sierra Madre Gold Silver Trend.
Mithril is currently drilling in the historic gold and silver producing district of Copalquin, Durango, Mexico. 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.
Mithril completed a restructure and acquisition of private exploration company Sun Minerals Pty Ltd in May 2020. Sun has an exclusive option to purchase 100% of the mining concessions covering the Copalquin Mining District.
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.
Mithril completed its maiden drill program in Copalquin in H2 2020, discovering the top of a large hydrothermal system with includes the epithermal vein systems at the La Soledad and El Refugio mine areas. Distal to the hydrothermal centre are numerous gold-silver targets within the district. The hydrothermal system is centred around the El Refugio mine with evidence indicating significant depth potential as well as strike extension further to the west.
Mithril is currently executing a fully funded diamond core drilling program at the Cometa Project in Copalquin to be completed in the first half of 2021. Deeper drilling at the Cometa project is providing exceptional results.