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Mithril discovers new nickel prospect at Lignum Dam project

Mithril Resources Ltd. on Jan. 30 said it intercepted a broad zone of anomalous nickel-copper-platinum group elements following a 2,524-meter aircore drilling program at the Lignum Dam project in Western Australia.

Highlights from the Mexi prospect included 36 meters grading 0.30% nickel, 294 parts per million of copper and 62 parts per billion of PGE from surface, 40 meters grading 0.28% nickel, 348 ppm of copper and 65 ppb of PGE from 4 meters, and 16 meters grading 0.33% nickel, 449 of ppm copper and 68 ppb of PGE from 8 meters.

Mithril said the presence of elevated copper and PGE along with nickel is a potential indicator of nickel sulfide mineralization at depth within fresh rock.

In addition to the new nickel prospect, several other holes drilled during the program ended in zones of gold anomalism that require follow-up drilling.

The company noted that a ground electromagnetic geophysical survey will commence within the next two weeks.