Mithril Resources Limited (ASX:MTH) New Bangemall Base Metal Project
Date: Sep 18, 2018
Potential for large scale copper lead zinc deposits at the new Bangemall Base Metal Project
Mithril Resources Ltd (ASX:MTH) is pleased to advise that multiple targets have been prioritised for follow-up on its new 100% – owned Bangemall Base Metal Project (“Bangemall”). Bangemall is located west of Galena Mining Limited’s Abra Deposit within a similar geological setting approximately 250 kms north west of Meekatharra, WA – Figure 1 in link below.
– New 100% – owned project west of the Abra Lead Silver Deposit which covers interpreted western extension of the large regional scale structure that controls mineralisation at Abra
– Prospectivity highlighted by airborne EM (GEOTEM) anomalies with overlapping anomalous surface geochemistry, and / or zones of copper and zinc in historic drill holes
– Strengthens the Company’s exploration portfolio which includes the Kurnalpi Nickel Project, Billy Hills Zinc Project, and the Limestone Well Vanadium Joint Venture
The Project (EL’s 09/2315 and 52/3644 – 710km2) covers the interpreted western extension of the Lyons River Fault Zone, a large regional scale structure that controls mineralisation at Abra 100 kms to the east, within an area of similar Proterozoic sediments that host the Abra deposit (Figure 2).
A 2012 JORC Code Compliant Indicated and Inferred Resource of 36.6Mt @ 7.3% lead, 18g/t silver has been recently estimated for the Abra Deposit (see ASX Announcement by Galena Mining Limited dated 14 March 2018).
At Bangemall, Mithril is targeting large scale copper, lead and zinc deposits and has now identified multiple targets that are typically characterised by airborne EM (GEOTEM) anomalies with overlapping or adjacent anomalous surface geochemistry, and / or zones of copper and zinc mineralisation within historic drill holes.
Of note is the Belang Bore target on EL52/3644 where a large (~5 kms x 5 kms) barium, manganese, cobalt and lead stream sediment anomaly overlies several late time GEOTEM anomalies. Belang Bore lies within an area of shallow cover and these targets have not been previously drill tested (Figures 3 to 4).
