Why Greenland should join Canada – not the US
In 2008, Greenland voted to transfer more power from the Danish royal government to the local Greenlandic government.
(via TheNewswire)
January 30th, 2025 – TheNewswire - Mithril Silver and Gold Limited (ASX:MTH, TSXV:MSG) (Mithril or the Company) presents its quarterly report for the period ended 31 December 2024.
Highlights
Drilling continued at the Target 1 area of the Copalquin gold-silver district in Mexico, expanding the maiden resource footprint ahead of a resource update in 2025. Highlight drill results include1
4.60 m @ 5.51 g/t gold, 182.4 g/t silver, from 99m (CDH-162), including
2.40m @ 10.24 g/t gold, 335 g/t silver, from 100.40m,including
0.60m @ 28.0 g/t gold, 997 g/t silver, from 100.40m
CDH-162 was part of the first drilling into an area shallower than the maiden resource model, at the historic El Refugio mine workings on the western side of the Target 1 resource area.
9.00m @ 2.06 g/t gold, 90.26 g/t silver, from 98m (CDH-161)
Including 1.00m @ 2.14 g/t gold, 259 g/t silver from 99m plus
1.60m @ 5.09 g/t gold, 299 g/t silver from 125.60m including
0.50m @ 12.15 g/t gold, 758 g/t silver from 126.7m
CDH-161 was drilled at El Cometa on the eastern side of the Target 1 resource area, again adding to the expanded resource footprint.
The second stage of the 9,000m drill program commenced on the eastern side of the Target 1 resource area at El Cometa where recent drill hole CDH-159 intercepted 33m from surface at 31.8 g/t gold and 274 g/t silver2 with almost 4,000 metres of core drilling during the quarter
The Target 1 area maiden resource3 update drilling is on schedule for end of Q1 2025
The municipal access road upgrade progressed throughout the quarter and on schedule for completion late March 2025 by which time drilling is scheduled to commence with the addition of a second drill at the first of two further advanced target areas in the district
The road upgrade and current site preparations will facilitate the significantly expanded and fully funded exploration activities throughout 2025, including 35,000 metres of additional drilling
CDH-159 reported in September 2024 (33.00m @31.8 g/t gold, 274 g/t silver from surface1) became a global top 20 gold-silver intercept reported in 2024 (app.mininghub.com)
Corporate
Completion of A$12.5M placement (before costs)4 plus proceeds from exercise of Options (A$4.417M) funding an additional 35,000 metres of drilling at Copalquin during 2025.
Cash balance on 31 December 2024, A$15.74M plus A$1.00M on 6 month term deposit
Exploration Activity Discussion
By the end of the December 2024 quarter, a total of 7,138 metres were drilled since commencing in June 2024, testing Soledad, Cometa and Refugio to better define dimensions along strike and depth of the mineral evidence that already has shown exceptional silver and gold potential and multi-event quartz deposition. Additionally, the first holes drilled during the previous quarter at the historic Copalquin mine, 300m lower elevation and 900m SE of the Target 1 area. These holes provided evidence of an epithermal, multi-phase banded quartz vein, interpreted to be part of the conduit system responsible for the widespread gold-silver mineralization throughout the district and supporting our model of a large and long lived epithermal gold-silver system.
CDH-161 intersected 9.00m @ 2.06 g/t gold, 90.26 g/t silver, from 98m, including
1.00m @ 2.14 g/t gold, 259 g/t silver from 99m plus
1.60m @ 5.09 g/t gold, 299 g/t silver from 125.60m including
0.50m @ 12.15 g/t gold, 758 g/t silver from 126.7m
In order to establish the vertical and horizontal continuity of Cometa Zone (Refugio E-W Structure and crosscutting of NW structures) drill testing at depth and along strike of both CDH-159 (33.00m @31.8 g/t gold, 274 g/t silver from surface) and CDH-161 progressed.
After completion of detailed mapping and sampling in the underground workings at El Cometa, we can now say that Fault/Breccias and Fault/Veins along drift are occurring both as high and low angle structures. There is a dominant 220-250 degrees oriented, 50-70 degrees angle SE structure offset by a NW structure that has been developed with channel sample assays pending.
CDH-162 intersected 4.60 m @ 5.51 g/t gold, 182.43 g/t silver, from 99m, including
2.40m @ 10.24 gold g/t gold, 335.03 g/t silver, from 100.40m, plus including
0.60m @ 28 gold g/t gold, 997 g/t silver, from 100.40m
CDH-164 intersected 6.80 m @ 0.70 g/t Au, 36.98 g/t silver, from 87.20m
CDH-162, CDH-163 and CDH-164 were drilled in Refugio historic workings shallower than the maiden resource. A wide quartz breccia zone was intercept along a hydrothermal breccia in all holes. CDH-162 hit Refugio Structure 4.60m @ 5.51 g/t Au, 182.43 g/t Ag, from 99m. CDH-163 hit the El Refugio historic workings from 86.60m to 88.30m returning with anomalous intercepts of 2.70m @ 0.28 g/t Au, 19.28 g/t Ag from 88.30m, CDH-164 also hit a breccia zone intercepting 6.80m @ 0.70 g/t Au, 36.98 g/t Ag from 87.20m, including 4m @ 0.93 g/t Au, 45.83 g/t Ag, from 88.00 m
CDH-165 and CDH-166 both holes were drilled on the western margin to provide geological information to support the development of the geological model. No reportable intercepts from these exploration holes.
Click Image To View Full Size
Figure 1 Cross-section at the historic El Refugio mine workings where the first drilling has been recently completed (CDH-162 to 164).
Click Image To View Full Size
Figure 2 Plan view of drilling at El Cometa in the eastern side of the Target 1 resource area showing the recent drill intercepts into two separate and parallel structures 100m apart. Further drilling is planned to establish the continuity the mineralisation in this area.
Click Image To View Full Size
Figure 3 Central area around the Target 1 Maiden JORC resource area, where all the drilling to date has been completed.
Channel Sampling results at Target 1 Area reported during the quarter (Lumbrera, La Soledad, El Cometa underground workings)5
Lumbrera Vein
1.75m @ 9.19 g/t gold, 653 g/t silver (5070-5071) L1
1.50m @ 13.6 g/t gold, 545 g/t silver (5072-5073) L2
Lumbrera Pit:
1.00m @ 0.70 g/t gold, 61.0 g/t silver (5069)
Soledad Level 1:
2.00 m @ 8.99 g/t gold, 736 g/t silver (5074-5075) L3
0.90m @ 9.57 g/t gold, 361 g/t silver (5076)
0.80m @ 6.87 g/t gold, 267 g/t silver (5077)
1.50m @ 1.72 g/t gold, 22.2 g/t silver (5079-5080) L4
Soledad Level 2:
0.94 m @ 8.81 g/t gold, 51.0 g/t silver (5087)
0.80 m @ 5.36 g/t gold, 143 g/tsilver (5088)
1.80m @ 4.58 g/t gold, 193.3 g/t silver (5090-5091) L5
1.50m @ 2.46 g/t gold, 141.5 g/t silver (5092-5093) L6
1.50m @ 0.84 g/t gold, 99.2 g/ t silver (5094-5095) L7
3.40m @ 1.56 g/t gold, 100.8 g/t silver (5096-5099) L8
2.00 m @ 4.23 g/t gold, 481 g/tsilver (5500-5501) L9
0.70m @ 3.42 g/t gold, 251 g/t silver (5502)
2.80m @ 1.62 g/t gold, 106.1 g/t silver (5503,5505-5506) L10
Soledad Level 3:
1.90m @ 0.38 g/t gold, 16.9 g/t silver (5509-5510) L11
1.80m @ 0.83 g/t gold, 42.5 g/t silver (5511-5512) L12
2.70m @ 1.21 g/t gold, 56.0 g/t silver (5513, 5515-5516) L13
Leon Vein
0.70m @ 6.00 g/t gold, 75.6 g/t silver (5517)
Click Image To View Full Size
Figure 4 La Soledad workings underground channel sampling (Target 1 area)
El Cometa underground workings:
The mapping and sampling within the El Cometa underground workings, with recent dewatering of the lower level of workings (from accumulated rainfall), provides vein and structure data to develop the geologic model for this important and complex, shallower mineralisation on the eastern side of the Target 1 resource area where significant high-grade drill intercepts have been reported.
Click Image To View Full Size
Figure 5 El Cometa workings underground channel sampling (Target 1 area)
Click Image To View Full Size
Figure 6 LiDAR hill shade image with the historic workings identified across the district and 2020-2022 highlight channel sample results. Target 1 area current drilling location, channel sampling area and the high priority drill target areas of Las Brujas-El Peru and La Constancia-El Jabali. Several new areas highlighted across the district for follow-up work.
|
|
|
Figure 7 left and right – municipal road upgrade works, facilitating the expanded exploration program for the Copalquin District in 2025
CORPORATE
Cash - At end of the December 2024 quarter, the Company had total cash of A$15.74M, plus A$1.0M held in term deposit.
Placement – On 28 October 2024, the Company announced it had received binding commitments for the Placement of 25,000,000 new fully paid ordinary shares in the Company at an issue price of $0.50 to raise approximately $12.5M (before costs)6. The Placement was well supported by Australian, North American and European investors. Participants in Placement received one free attaching option for every two shares subscribed for under the Placement. The options will be unlisted, have an exercise price of $0.75 and an exercise period of 2 years from date of issue. Directors of the Company committed to subscribe for $200,000 in the Placement.
Exploration expenditure
Exploration expenditure for the quarter was $1.756M (Mexico: $1.753M, Australia $0.003M).
Related party Payments
In line with its obligations under ASX Listing Rule 5.3.5, Mithril Silver and Gold Limited notes that the only payments to related parties of the Company, as advised in the Appendix 5B for the period ended 31 December 2024, pertain to payments to directors and consultants for fees, salary and superannuation
ENVIRONMENTAL, SOCIAL AND GOVERNANCE
The Company philosophy operating in the Copalquin district is to support communities via children’s education and providing employment opportunities. This includes supporting community schools in the district, employing twenty people from within the district under the federal employment laws, supporting routine medical visits and developing infrastructure in the district for long term benefit. This includes the municipal access road, connecting to the township of El Durazno 12 km east of the Copalquin District, with support for the municipal upgrade works scheduled for commencement in October 2024.
ABOUT THE COPALQUIN GOLD SILVER PROJECT
The Copalquin mining district is located in Durango State, Mexico and covers an entire mining district of 70km2 containing several dozen historic gold and silver mines and workings, ten of which had notable production. The district is within the Sierra Madre Gold Silver Trend which extends north-south along the western side of Mexico and hosts many world-class gold and silver deposits.
Multiple mineralisation events, young intrusives thought to be system-driving heat sources, widespread alteration together with extensive surface vein exposures and dozens of historic mine workings, identify the Copalquin mining district as a major epithermal centre for Gold and Silver.
Within 15 months of drilling in the Copalquin District, Mithril delivered a maiden JORC mineral resource estimate demonstrating the high-grade gold and silver resource potential for the district. This maiden resource is detailed below (see ASX release 17 November 2021)^ and a NI43-101 Technical Report, “Copalquin Property Mineral Resource Estimate”, filed on SEDAR+, July 2024.
2,416,000 tonnes4.80 g/t gold, 141 g/t silver 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
|
Tonnes (kt) |
Tonnes (kt) |
Gold (g/t) |
Silver (g/t) |
Gold Eq.* (g/t) |
Gold (koz) |
Silver (koz) |
Gold Eq.* (koz) |
|
|
El Refugio |
Indicated |
691 |
5.43 |
114.2 |
7.06 |
121 |
2,538 |
157 |
|
Inferred |
1,447 |
4.63 |
137.1 |
6.59 |
215 |
6,377 |
307 |
|
|
La Soledad |
Indicated |
- |
- |
- |
- |
- |
- |
- |
|
Inferred |
278 |
4.12 |
228.2 |
7.38 |
37 |
2,037 |
66 |
|
|
Total |
Indicated |
691 |
5.43 |
114.2 |
7.06 |
121 |
2,538 |
157 |
|
Inferred |
1,725 |
4.55 |
151.7 |
6.72 |
252 |
8,414 |
372 |
|
|
TOTAL |
2,416 |
4.80 |
141 |
6.81 |
373 |
10,953 |
529 |
Table 1 - Mineral resource estimate El Refugio – La Soledad using a cut-off grade of 2.0 g/t AuEq*
* The gold equivalent (AuEq.) values are determined from gold and silver values and assume the following: 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. Metallurgical recoveries are assumed to be approximately equal for both gold and silver at this early stage. Actual metallurgical recoveries from test work to date are 96% and 91% for gold and silver, respectively. In the Company’s opinion there is reasonable potential for both gold and silver to be extracted and sold. Actual metal prices have not been used in resource estimate, only the price ratio for the AuEq reporting. Formula for AuEq. = Au grade + ((Ag grade/gold:silver price ratio) x (Ag recovery/Au recovery))
^ The information in this report that relates to Mineral Resources or Ore Reserves is based on information provided in the following ASX announcement: 17 Nov 2021 - MAIDEN JORC RESOURCE 529,000 OUNCES @ 6.81G/T (AuEq*), which includes the full JORC MRE report, also available on the Mithril Resources Limited Website.
The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.
Mining study and metallurgical test work supports the development of the El Refugio-La Soledad resource with conventional underground mining methods indicated as being appropriate and with high gold-silver recovery to produce metal on-site with conventional processing.
Mithril is currently exploring in the Copalquin District to expand the resource footprint, demonstrating its multi-million-ounce gold and silver potential.
Mithril has an exclusive option to purchase 100% interest in the Copalquin mining concessions by paying US$10M on or any time before 7 August 2026 (option has been extended by 3 years). Mithril has reached an agreement with the vendor for an extension of the payment date by a further 2 years (bringing the payment date to 7 August 2028).
-ENDS-
Released with the authority of the Board.
For further information contact:
|
John Skeet Managing Director and CEO +61 435 766 809 |
Mark Flynn Investor Relations +61 416 068 733 |
Click Image To View Full Size
Figure 7 – Copalquin District location map with locations of mining and exploration activity within the state of Durango
Competent Persons Statement - JORC
The information in this announcement that relates to metallurgical test results, mineral processing and project development and study work has been compiled by Mr John Skeet who is Mithril’s CEO and Managing Director. Mr Skeet is a Fellow of the Australasian Institute of Mining and Metallurgy. This is a Recognised Professional Organisation (RPO) under the Joint Ore Reserves Committee (JORC) Code.
Mr Skeet has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Skeet consents to the inclusion in this report of the matters based on information in the form and context in which it appears. The Australian Securities Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
The information in this announcement that relates to sampling techniques and data, exploration results and geological interpretation for Mithril’s Mexican project, has been compiled by Mr Ricardo Rodriguez who is Mithril’s Project Manager. Mr Rodriguez is a Member of the Australasian Institute of Mining and Metallurgy. This is a Recognised Professional Organisation (RPO) under the Joint Ore Reserves Committee (JORC) Code.
Mr Rodriguez has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Rodriguez consents to the inclusion in this report of the matters based on information in the form and context in which it appears.
The information in this announcement that relates to Mineral Resources is reported by Mr Rodney Webster, Principal Geologist at AMC Consultants Pty Ltd (AMC), who is a Member of the Australasian Institute of Mining and Metallurgy. The report was peer reviewed by Andrew Proudman, Principal Consultant at AMC. Mr Webster is acting as the Competent Person, as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, for the reporting of the Mineral Resource estimate. A site visit was carried out by Jose Olmedo a geological consultant with AMC, in September 2021 to observe the drilling, logging, sampling and assay database. Mr Webster consents to the inclusion in this report of the matters based on information in the form and context in which it appears
The Australian Securities Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
Qualified Persons – NI 43-101
Scientific and technical information in this Report has been reviewed and approved by Mr John Skeet (FAUSIMM, CP) Mithril’s Managing Director and Chief Executive Officer. Mr John Skeet is a qualified person within the meaning of NI 43-101.
The Australian Securities Exchange and the TSX Venture Exchange have not reviewed and do not accept responsibility for the accuracy or adequacy of this release.
ASX Announcements released during the December 2024 quarter:
17 December 2024, Results of Meeting
10 December 2024, PROGRESS AND DISTRICT EXPLORATION EXPANSION, COPALQUIN
27 November 2024, Results of Meeting
11 November 2024, Investor Presentation
28 October 2024, $12.5M PLACEMENT, EXPLORATION SHIFTS TO HIGH-GEAR
22 October 2024, UP TO 736 G/T SILVER, 8.99 G/T GOLD IN CHANNEL SAMPLES
18 October 2024, ASSAYS UP TO 997 G/T SILVER, 28 G/T GOLD
Table 2 Mineralised intercepts in reported drillholes above 0.1 g/t AuEq.
|
HOLE_ID |
Sample_ID |
From m |
To m |
Length m |
Au_ppm |
Ag_ppm |
AuEQ_70 |
AgEQ_70 |
|
CDH-161 |
229287 |
19.80 |
20.40 |
0.60 |
0.217 |
7.7 |
0.33 |
22.89 |
|
CDH-161 |
229288 |
20.40 |
21.00 |
0.60 |
0.473 |
22.8 |
0.80 |
55.91 |
|
CDH-161 |
229289 |
21.00 |
22.00 |
1.00 |
0.39 |
14.4 |
0.60 |
41.7 |
|
CDH-161 |
229290 |
22.00 |
23.00 |
1.00 |
0.144 |
6.8 |
0.24 |
16.88 |
|
CDH-161 |
229295 |
27.00 |
27.5 |
0.5 |
0.221 |
4.8 |
0.29 |
20.27 |
|
CDH-161 |
229327 |
97.00 |
98.00 |
1.00 |
0.117 |
2.5 |
0.15 |
10.69 |
|
CDH-161 |
229328 |
98.00 |
99.00 |
1.00 |
0.307 |
10.1 |
0.45 |
31.59 |
|
CDH-161 |
229329 |
99.00 |
99.60 |
0.60 |
10.75 |
206 |
13.69 |
958.5 |
|
CDH-161 |
229330 |
99.60 |
100.35 |
0.75 |
1.82 |
53.4 |
2.58 |
180.8 |
|
CDH-161 |
229331 |
100.35 |
100.95 |
0.60 |
2.83 |
61.9 |
3.71 |
260 |
|
CDH-161 |
229332 |
100.95 |
101.70 |
0.75 |
2.06 |
41.1 |
2.65 |
185.3 |
|
CDH-161 |
229333 |
101.70 |
102.40 |
0.70 |
0.699 |
15.4 |
0.92 |
64.33 |
|
CDH-161 |
229334 |
102.40 |
103.00 |
0.60 |
0.822 |
46.4 |
1.48 |
103.94 |
|
CDH-161 |
229335 |
103.00 |
104.00 |
1.00 |
1.75 |
112 |
3.35 |
234.5 |
|
CDH-161 |
229336 |
104.00 |
105.00 |
1.00 |
1.53 |
83.5 |
2.72 |
190.6 |
|
CDH-161 |
229337 |
105.00 |
106.00 |
1.00 |
0.738 |
77.5 |
1.85 |
129.16 |
|
CDH-161 |
229338 |
106.00 |
107.00 |
1.00 |
2.14 |
259 |
5.84 |
408.8 |
|
CDH-161 |
229340 |
107.65 |
108.35 |
0.70 |
0.113 |
10.2 |
0.26 |
18.11 |
|
CDH-161 |
229341 |
108.35 |
109.05 |
0.70 |
0.122 |
13.6 |
0.32 |
22.14 |
|
CDH-161 |
229342 |
109.05 |
109.75 |
0.70 |
0.197 |
19.2 |
0.47 |
32.99 |
|
CDH-161 |
229343 |
109.75 |
110.25 |
0.50 |
0.446 |
47.3 |
1.12 |
78.52 |
|
CDH-161 |
229344 |
110.25 |
111.00 |
0.75 |
0.48 |
52.4 |
1.23 |
86 |
|
CDH-161 |
229345 |
111.00 |
112.00 |
1.00 |
0.118 |
10.9 |
0.27 |
19.16 |
|
CDH-161 |
229346 |
112.00 |
112.70 |
0.70 |
0.729 |
34.8 |
1.23 |
85.83 |
|
CDH-161 |
229358 |
125.60 |
126.70 |
1.10 |
1.885 |
90.8 |
3.18 |
222.75 |
|
CDH-161 |
229359 |
126.70 |
127.20 |
0.50 |
12.15 |
758 |
22.98 |
1608.5 |
|
CDH-161 |
229363 |
129.40 |
130.00 |
0.60 |
0.283 |
2.4 |
0.32 |
22.21 |
|
CDH-161 |
229387 |
204.10 |
205.20 |
1.10 |
0.748 |
3.6 |
0.80 |
55.96 |
|
CDH-161 |
229388 |
205.20 |
206.20 |
1.00 |
0.342 |
7.1 |
0.44 |
31.04 |
|
CDH-161 |
229389 |
206.20 |
206.70 |
0.50 |
0.293 |
25.7 |
0.66 |
46.21 |
|
CDH-161 |
229391 |
206.70 |
207.20 |
0.50 |
0.163 |
15.9 |
0.39 |
27.31 |
|
CDH-161 |
229392 |
207.20 |
208.20 |
1.00 |
0.473 |
40.3 |
1.05 |
73.41 |
|
CDH-161 |
229393 |
208.20 |
209.20 |
1.00 |
0.69 |
62.1 |
1.58 |
110.4 |
|
CDH-161 |
229395 |
210.25 |
211.25 |
1.00 |
0.249 |
16.2 |
0.48 |
33.63 |
|
CDH-161 |
229396 |
211.25 |
211.95 |
0.70 |
0.296 |
18.9 |
0.57 |
39.62 |
|
CDH-161 |
229397 |
211.95 |
213.00 |
1.05 |
0.145 |
6.7 |
0.24 |
16.85 |
|
CDH-161 |
229398 |
213.00 |
214.10 |
1.10 |
0.222 |
32.6 |
0.69 |
48.14 |
|
CDH-161 |
229399 |
214.10 |
215.10 |
1.00 |
0.322 |
29 |
0.74 |
51.54 |
|
CDH-161 |
229400 |
215.10 |
215.75 |
0.65 |
0.225 |
29.8 |
0.65 |
45.55 |
|
CDH-161 |
229407 |
219.30 |
220.00 |
0.70 |
0.124 |
22.4 |
0.44 |
31.08 |
|
CDH-161 |
229408 |
220.00 |
221.00 |
1.00 |
0.106 |
6.4 |
0.20 |
13.82 |
|
CDH-161 |
229415 |
226.80 |
227.30 |
0.50 |
0.102 |
2.6 |
0.14 |
9.74 |
|
CDH-161 |
229416 |
227.30 |
228.00 |
0.70 |
0.185 |
9.3 |
0.32 |
22.25 |
|
CDH-161 |
229419 |
229.40 |
230.40 |
1.00 |
0.192 |
2.7 |
0.23 |
16.14 |
|
CDH-161 |
229420 |
230.40 |
231.40 |
1.00 |
0.218 |
3.1 |
0.26 |
18.36 |
|
CDH-161 |
229421 |
231.40 |
232.40 |
1.00 |
0.151 |
1.4 |
0.17 |
11.97 |
|
CDH-161 |
229422 |
232.40 |
233.40 |
1.00 |
0.157 |
1.7 |
0.18 |
12.69 |
|
CDH-161 |
229423 |
233.40 |
234.30 |
0.90 |
0.11 |
1.5 |
0.13 |
9.2 |
|
CDH-161 |
229428 |
237.25 |
238.25 |
1.00 |
0.149 |
2.9 |
0.19 |
13.33 |
|
CDH-161 |
229429 |
238.25 |
239.25 |
1.00 |
0.144 |
1.7 |
0.17 |
11.78 |
|
CDH-161 |
229433 |
241.00 |
242.00 |
1.00 |
0.117 |
0.8 |
0.13 |
8.99 |
|
CDH-162 |
229477 |
99.00 |
99.80 |
0.80 |
0.527 |
30.1 |
0.96 |
66.99 |
|
CDH-162 |
229478 |
99.80 |
100.40 |
0.60 |
0.166 |
12.2 |
0.34 |
23.82 |
|
CDH-162 |
229479 |
100.40 |
101.00 |
0.60 |
28 |
997 |
42.24 |
2957 |
|
CDH-162 |
229480 |
101.00 |
102.00 |
1.00 |
6.79 |
197 |
9.60 |
672.3 |
|
CDH-162 |
229481 |
102.00 |
102.80 |
0.80 |
1.225 |
11.1 |
1.38 |
96.85 |
|
CDH-162 |
229482 |
102.80 |
103.60 |
0.80 |
0.29 |
4.6 |
0.36 |
24.9 |
|
CDH-162 |
229500 |
132.75 |
133.25 |
0.50 |
0.121 |
2.2 |
0.15 |
10.67 |
|
CDH-162 |
229502 |
133.25 |
134.00 |
0.75 |
0.107 |
5.1 |
0.18 |
12.59 |
|
CDH-162 |
229503 |
134.00 |
135.00 |
1.00 |
0.137 |
1 |
0.15 |
10.59 |
|
CDH-162 |
229504 |
135.00 |
136.00 |
1.00 |
0.1 |
3.3 |
0.15 |
10.3 |
|
CDH-162 |
229506 |
137.00 |
138.00 |
1.00 |
0.131 |
2.5 |
0.17 |
11.67 |
|
CDH-162 |
229507 |
138.00 |
139.00 |
1.00 |
0.219 |
3 |
0.26 |
18.33 |
|
CDH-162 |
229508 |
139.00 |
140.00 |
1.00 |
0.17 |
2.1 |
0.20 |
14 |
|
CDH-162 |
229509 |
140.00 |
141.00 |
1.00 |
0.154 |
2 |
0.18 |
12.78 |
|
CDH-163 |
229541 |
88.30 |
89.00 |
0.70 |
0.413 |
29.1 |
0.83 |
58.01 |
|
CDH-163 |
229542 |
89.00 |
89.55 |
0.55 |
0.286 |
16.1 |
0.52 |
36.12 |
|
CDH-163 |
229543 |
89.55 |
90.30 |
0.75 |
0.284 |
19.6 |
0.56 |
39.48 |
|
CDH-163 |
229544 |
90.30 |
91.00 |
0.70 |
0.144 |
11.6 |
0.31 |
21.68 |
|
CDH-163 |
229546 |
92.00 |
93.00 |
1.00 |
0.214 |
17.8 |
0.47 |
32.78 |
|
CDH-163 |
229548 |
94.10 |
94.60 |
0.50 |
0.157 |
31.6 |
0.61 |
42.59 |
|
CDH-163 |
229549 |
94.60 |
95.60 |
1.00 |
0.102 |
11.6 |
0.27 |
18.74 |
|
CDH-163 |
229554 |
97.10 |
97.75 |
0.65 |
0.356 |
24.4 |
0.70 |
49.32 |
|
CDH-163 |
229560 |
102.25 |
102.90 |
0.65 |
0.146 |
17 |
0.39 |
27.22 |
|
CDH-163 |
229561 |
102.90 |
103.45 |
0.55 |
0.209 |
49.9 |
0.92 |
64.53 |
|
CDH-163 |
229564 |
105.00 |
106.00 |
1.00 |
0.123 |
12.8 |
0.31 |
21.41 |
|
CDH-163 |
229565 |
106.00 |
107.00 |
1.00 |
0.113 |
10.7 |
0.27 |
18.61 |
|
CDH-163 |
229570 |
111.00 |
112.00 |
1.00 |
0.155 |
3 |
0.20 |
13.85 |
|
CDH-163 |
229575 |
116.00 |
117.00 |
1.00 |
0.335 |
10 |
0.48 |
33.45 |
|
CDH-163 |
229599 |
135.00 |
135.70 |
0.70 |
0.128 |
2 |
0.16 |
10.96 |
|
CDH-163 |
229608 |
142.00 |
143.00 |
1.00 |
0.102 |
1.2 |
0.12 |
8.34 |
|
CDH-163 |
229622 |
156.00 |
157.00 |
1.00 |
0.125 |
0.5 |
0.13 |
9.25 |
|
CDH-164 |
229678 |
87.20 |
88.00 |
0.80 |
0.458 |
23.6 |
0.80 |
55.66 |
|
CDH-164 |
229679 |
88.00 |
89.00 |
1.00 |
0.762 |
37.5 |
1.30 |
90.84 |
|
CDH-164 |
229680 |
89.00 |
90.00 |
1.00 |
0.694 |
34 |
1.18 |
82.58 |
|
CDH-164 |
229681 |
90.00 |
91.00 |
1.00 |
1.43 |
64.1 |
2.35 |
164.2 |
|
CDH-164 |
229682 |
91.00 |
92.00 |
1.00 |
0.82 |
47.7 |
1.50 |
105.1 |
|
CDH-164 |
229683 |
92.00 |
93.00 |
1.00 |
0.323 |
18.9 |
0.59 |
41.51 |
|
CDH-164 |
229684 |
93.00 |
94.00 |
1.00 |
0.376 |
30.4 |
0.81 |
56.72 |
|
CDH-164 |
229685 |
94.00 |
95.00 |
1.00 |
0.142 |
15.8 |
0.37 |
25.74 |
|
CDH-164 |
229686 |
95.00 |
96.00 |
1.00 |
0.271 |
23.8 |
0.61 |
42.77 |
|
CDH-164 |
229687 |
96.00 |
97.00 |
1.00 |
0.376 |
18.5 |
0.64 |
44.82 |
|
CDH-164 |
229688 |
97.00 |
98.00 |
1.00 |
0.54 |
36.6 |
1.06 |
74.4 |
|
CDH-164 |
229691 |
100.00 |
100.75 |
0.75 |
0.11 |
7.1 |
0.21 |
14.8 |
|
CDH-164 |
229694 |
101.75 |
102.30 |
0.55 |
0.143 |
13 |
0.33 |
23.01 |
|
CDH-164 |
229695 |
102.30 |
103.00 |
0.70 |
0.158 |
21.1 |
0.46 |
32.16 |
|
CDH-164 |
229698 |
105.00 |
105.50 |
0.50 |
0.488 |
46.4 |
1.15 |
80.56 |
|
CDH-164 |
229700 |
106.35 |
107.00 |
0.65 |
0.149 |
5.3 |
0.22 |
15.73 |
|
CDH-164 |
229702 |
107.00 |
108.00 |
1.00 |
0.128 |
7.9 |
0.24 |
16.86 |
|
CDH-164 |
229703 |
108.00 |
108.50 |
0.50 |
0.182 |
11.7 |
0.35 |
24.44 |
|
CDH-164 |
229707 |
110.90 |
111.40 |
0.50 |
0.113 |
1 |
0.13 |
8.91 |
|
CDH-164 |
229708 |
111.40 |
112.40 |
1.00 |
0.131 |
10.7 |
0.28 |
19.87 |
|
CDH-164 |
229721 |
121.00 |
122.00 |
1.00 |
0.175 |
2.2 |
0.21 |
14.45 |
|
CDH-164 |
229722 |
122.00 |
123.00 |
1.00 |
0.259 |
8.9 |
0.39 |
27.03 |
|
CDH-164 |
229755 |
147 |
148 |
1 |
0.113 |
2.6 |
0.15 |
10.51 |
|
CDH-164 |
229759 |
150 |
151 |
1 |
0.1 |
2.5 |
0.14 |
9.5 |
|
CDH-164 |
229762 |
153 |
154 |
1 |
0.108 |
1.1 |
0.12 |
8.66 |
|
CDH-164 |
229767 |
158 |
159 |
1 |
0.123 |
0.6 |
0.13 |
9.21 |
|
CDH-164 |
229781 |
180.8 |
181.3 |
0.5 |
0.1 |
1.7 |
0.12 |
8.7 |
|
CDH-164 |
229782 |
181.3 |
182 |
0.7 |
0.229 |
3 |
0.27 |
19.03 |
Mithril Silver and Gold Limited Group
Tenement information
31 December 2024
Australian Interests:
|
Mining Concession |
Tenement title number |
Interest owned % |
|
Kurnalpi Area |
E28/2506 |
100.00 |
|
Kurnalpi Area |
E28/2567 |
100.00 |
|
Kurnalpi Area |
E28/2682 |
100.00 |
|
Kurnalpi Area |
E28/2760 |
100.00 |
|
Lignum Dam Area |
E27/538 |
100.00# |
|
Lignum Dam Area |
E27/582 |
100.00# |
|
Lignum Dam Area |
E27/584 |
100.00# |
|
Murchison Area (Limestone Well) |
E20/846 |
10.00 |
|
Murchison Area (Limestone Well) |
E57/1069 |
10.00 |
#The Lignum Dam tenements are under an earn-in agreement with Great Bolder Resources. Great Bolder has completed exploration expenditures to earn 51% interest in the tenements although this interest is not yet formally registered. Mithril has executed an agreement for the divestment of its interest in these tenements.
The Kurnalpi tenements are currently in good standing and Mithril is looking to farm-out or divest these tenements. Mithril continues to hold a 10% free carried interest in the Limestone Well tenements with Firefly Metals (formerly Auteco Minerals).
Mexican Operations:
|
Mining Concession |
Mining Concession title number |
Interest owned % |
|
LA SOLEDAD |
52033 |
50.00 |
|
EL COMETA |
164869 |
50.00 |
|
SAN MANUEL |
165451 |
50.00 |
|
COPALQUIN |
178014 |
50.00 |
|
EL SOL |
236130 |
50.00 |
|
EL CORRAL |
236131 |
50.00 |
Mithril has currently owns a 50% interest in the Copalquin mining concessions and has an exclusive option to purchase the remaining 50% (bringing Mithril’s ownership of the Copalquin mining concessions to 100%) by paying US$10M to the vendor on or any time before 7 August 2026 (the due date for payment was initially 7 August 2023, and was extended by 3 years by written agreement between Mithril and the vendor). Mithril has executed and registered an agreement with the vendor for an extension of the payment date by a further 2 years (bringing the payment date to 7 August 2028).
1 See ASX announcement ASSAYS UP TO 997 G/T SILVER, 28 G/T GOLD dated 18 October 2024
2 See ASX announcement MTH Drills 144 g/t Gold, 1,162 g/t Silver over 7.0 metres dated 20 September 2024
3 See ‘About Copalquin Gold Silver Project’ section for JORC MRE details and AuEq. calculation.
4 See ASX announcement $12.5M PLACEMENT, EXPLORATION SHIFTS TO HIGH-GEAR dated 28 October 2024
5 See ASX announcement UP TO 736 G/T SILVER, 8.99 G/T GOLD IN CHANNEL SAMPLES dated 22 October 2024
6 See ASX announcement $12.5M PLACEMENT, EXPLORATION SHIFTS TO HIGH-GEAR dated 28 October 2024
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