Slide 1: Transformative high-grade gold silver project acquisition (ASX release)
ASX RELEASE – 11 DECEMBER 2019 MITHRIL RESOURCES LIMITED - Transformative high-grade gold silver project acquisition Mithril Resources Ltd (ASX:MTH) advises that it has lodged presentation materials detailing the transformative acquisition of the high-grade gold silver Copalquin Project with the ASX
Slide 2: Copalquin Project
COPALQUIN PROJECT Proposed to be acquired from the vendors of Sun Minerals Pty Ltd Major Epithermal Centre Sierra Madre Occidentals, Durango State, Mexico 11 DECEMBER 2019 M I T H R I L R E S O U R C E S L T D .
Slide 3: Cautionary Statement
Cautionary Statement The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about and observe such restrict
Slide 4: Contents
Contents Sun Minerals Acquisition 4 Mexican Mining Sector Highlights 5 Why Copalquin? 6 Sun Minerals Corporate Profile 7 Copalquin Project 8 ₋ 100% Ownership ₋ Geological Highlights ₋ Exploration Plan for 2020 Comparison with other Mexican mines 18 Historic Gold and Silver Mine data 21 Foreign Minin
Slide 5: Transformative Acquisition for Mithril
Transformative Acquisition for Mithril Mithril to acquire private exploration company Sun Minerals Pty Ltd. Sun Minerals has the right to acquire 100% of the Copalquin gold-silver project in Mexico. Copalquin is located in the prolific Sierra Madre Trend. Sun Minerals has invested $2.5m over the pas
Slide 6: Mexican Mining Sector Highlights
Mexican Mining Sector Highlights Mexico has a long established mining industry. Mexican mining giants Grupo Mexico, Peñoles and Cemex are global operators. Mexico is the #1 world silver producer and top 10 for 15 other minerals, including gold. Mining investment growth was 22% for 2017-18. Highest n
Slide 7: Why Copalquin?
Why Copalquin? Copalquin is located in an ideal geologic setting surrounded by significant mining and exploration activity. The mining concessions cover an entire mining district (70km² area). The widespread historic workings and sampling indicate a large epithermal centre for gold and silver. Histo
Slide 8: Sun Minerals Corporate Profile
Sun Minerals Corporate Profile John Skeet - Managing Director (metallurgist, F. AusIMM) Sun Minerals Pty Ltd John has over 30 years experience managing and developing gold and silver projects in Australian Private Company Australia, Republic of Georgia and Mexico. He successfully developed Ballarat
Slide 9: About the Copalquin Project
About the COPALQUIN PROJECT
Slide 10: Ownership
100% Ownership Location: Sierra Madre Gold Silver Trend, Durango State, Mexico COPALQUIN PROJECT Concession Titles: Name Title No. Hectares LA SOLEDAD 52033 6 EL COMETA 164869 36 SAN MANUEL 165451 36 COPALQUIN 178014 20 EL SOL 236130 6,000 EL CORRAL 236131 907.3243 TOTAL 7,005.3243 Owner: Compañia M
Slide 11: Past Modern Exploration Data
Past Modern Exploration Data 1996 - 2007 Drilling databases from Bell Coast and UC Resources for 70 diamond drill holes. Draft NI43-101 completed for UC Resources in 2007. ASTER study. Geochemical study. Rock chip channel sampling programmes by CRM, IMMSA, Kennecott, Alta Primera, BCCC, UC Resources
Slide 12: Ideal Geological Setting & Good Infrastructure
Ideal Geological Setting & Good Infrastructure Two Airstrips for light aircraft – 30 minutes flight from Culiacán, Sinaloa. Drive – 8 hrs from Chihuahua, 5 hrs from Culiacán. Project 30km from national highway 24 (sealed road). Field office at nearby and well serviced El Durazno town. Engineering st
Slide 13: Copalquin Geological Highlights
Copalquin Geological Highlights Located in the highly prospective Sierra Madre Trend in Durango State, Mexico which hosts many epithermal gold-silver deposits. Large epithermal centre – a mining district. Permissive for stacked boiling zones, depth hundreds of metres, such as with Ocampo and more re
Slide 14: Gold & Silver Potential
Gold & Silver Potential There are numerous historic mine clusters throughout the mineralised valley. The clusters of historic workings run for 8 km from east to west. The initial drilling will focus on the La Soledad and El Refugio workings areas. In the unexplored northern section there are two kno
Slide 15: Large Epithermal Centre Gold & Silver
Large Epithermal Centre Gold & Silver xx Large 7,005 Ha area, 2020 Drill Programme Areas multiple vein structures, argillic alteration and at least 32 known mines 14 14
Slide 16: Exploration Plan for 2020
Exploration Plan for 2020 Type of diamond core drill rig to be used at Copalquin. Construct drill pads and drill roads (in progress). Diamond core drill programme (helicopter assisted) 5,000 metres. High resolution satellite data to cover entire concession area. ASTER/PIMA studies to identify prospe
Slide 17: Central 1,600 Ha Area Initial Drill Targets
Central 1,600 Ha Area Initial Drill Targets Copalquin Project Target Areas within central 1,600 Ha and selected rock-chip sample results. All rock chip samples were collected by Sun Minerals in 2017 and Pembrook in 2013-14 except the results shown for the Las Brujas and Peru mine workings. These are
Slide 18: Why Does Copalquin Host Such High Grade Gold and Silver?
Why Does Copalquin Host Such High Grade Gold and Silver? Nearby San Dimas District Long Section Nearby Los Pinos Mine Log Section Most of the known gold and silver mineralisation is located in the The ignimbrite flareup provided a heat source for mineralisation valley running east to west. and has d
Slide 19: Other regional Mexican epithermal gold and silver mines
Other regional Mexican epithermal gold and silver mines Ocampo gold and silver complex 320km NW in the Sierra Madre Trend is a series of open pits and underground development. In 2011, AuRico Gold reported proven reserves of 27.1 Mt @0.75g/t for 0.65 Moz gold and 32g/t for 27.96 Moz silver plus prob
Slide 20: Other Major Producers
Other Major Producers Newmont Goldcorp Inc. (Mkt Cap. $45.5bn) Peñasquito 310 koz gold, 11 Moz silver Grupo Mexico (Mkt Cap. $30bn) Buenavista del Cobre mine (formerly Cananea) in Sonora, Mexico, in 2019 is the third largest copper mine in the world. Agnico Eagle Mines Limited (Mkt Cap. $20bn) Pinos
Slide 21: Other Regional Exploration Activity
Other Regional Exploration Activity Agnico Eagle Limited Mkt Cap $20bn Mexico Exploration Santa Gertrudis (100%) inferred resource of 27.5 Mt @ 1.09 g/t gold for 962 koz contained gold (Dec. 2018), 0.5 Moz past production 2018 31,000m drilling, CAD8.2m for 2019 El Barqueño option to earn 100% 2018 2
Slide 22: Known historic gold & silver mines at Copalquin
32 known historic gold & silver mines at COPALQUIN
Slide 23: El Cometa Mine
El Cometa Mine Company Sample ID Width Au (g/t) Ag Type (m) (g/t) Bell Coast Core NQ EC-2 13.25 74.9 706 Bell Coast Core NQ EC-8 6.5 2.66 79.2 Bell Coast Core NQ EC-9 18.2 8.55 144 Bell Coast Core NQ EC-10 11.05 12.62 277 Bell Coast Core NQ EC-11 11.50 1.08 44.5 Bell Coast Core NQ EC-12 7.0 10.65 21
Slide 24: El Refugio Mine
El Refugio Mine Company Sample Type Width Au (g/t) Ag (g/t) (m) Pembrook Chip 1.1 0.12 7.6 Pembrook Chip 1.5 1.37 53.1 Pembrook Chip 1.2 2.79 223.0 Pembrook Chip 2.0 1.70 76.1 Sun Minerals Chip 1.0 2.17 99.9 Sun Minerals Chip 1.3 1.02 19.5 Sun Minerals Chip 1.4 1.66 51.6 Sun Minerals Chip 1.0 0.75 6
Slide 25: La Soledad Mine
La Soledad Mine Company Sample Type Width Au (g/t) Ag (g/t) (m) Sun Minerals Chip 0.4 4.42 215 Sun Minerals Chip 0.55 3.82 332 Sun Minerals Chip 0.7 1.47 88 Sun Minerals Chip 0.8 2.82 102 UC Resources Drill 4.53 28.99 2,350 Chip samples collected by Sun Minerals 2017. UC Resources drill core 2007 no
Slide 26: Los Reyes Mine
Los Reyes Mine Company Sample Type Width Au (g/t) Ag (g/t) (m) Sun Minerals Chip 1.2 7.23 507 Pembrook Chip 1.2 7.83 54.6 Pembrook Chip 0.7 7.97 54.6 Samples collected by Sun Minerals 2017 and by Pembrook Mining 2013-14. Please refer to the company’s ASX release dated 25th November 2019 for JORC tab
Slide 27: La Fraguita Mine
La Fraguita Mine Company Sample Type Width Au (g/t) Ag (g/t) (m) Pembrook Chip 0.8 0.36 18.3 Pembrook Chip 1.2 0.69 61.3 Pembrook Chip 0.9 24.3 168 Pembrook Chip 1.5 0.17 6.2 Samples collected by Sun Minerals 2017 and by Pembrook Mining 2013-14. Please refer to the company’s ASX release dated 25th N
Slide 28: Guadalupe Mine
Guadalupe Mine Company Sample Type Width Au (g/t) Ag (g/t) (m) Sun Minerals Chip 0.6 1.82 130 Sun Minerals Chip 0.6 4.67 270 Sun Minerals Chip 0.6 18.65 802 Sun Minerals Chip Dump 12.9 685 Samples collected by Sun Minerals 2017. Please refer to the company’s ASX release dated 25th November 2019 for
Slide 29: La Lina Mine
La Lina Mine Company Sample Type Width Au (g/t) Ag (g/t) (m) Sun Minerals Chip 1.0 5.23 249 Sun Minerals Chip 1.1 0.06 3.2 Samples collected by Sun Minerals 2017. Please refer to the company’s ASX release dated 25th November 2019 for JORC tables in Annexure F for sampling techniques and reporting of
Slide 30: Copalquin Mine
Copalquin Mine Company Sample Type Width Au (g/t) Ag (g/t) (m) Sun Minerals Chip 0.8 1.54 70.9 Samples collected by Sun Minerals 2017. Please refer to the company’s ASX release dated 25th November 2019 for JORC tables in Annexure F for sampling techniques and reporting of exploration results. 29
Slide 31: San Manuel Mine
San Manuel Mine Company Sample Type Width Au (g/t) Ag (g/t) (m) Pembrook Chip 1.2 6.18 380 Pembrook Chip 1.2 0.84 41.9 Pembrook Chip 0.5 3.18 188 Pembrook Chip 1.8 2.58 40.7 Pembrook Chip 1.2 0.61 53.9 Pembrook Chip 2.0 0.92 45.3 Samples collected by Pembrook Mining 2013-14. Please refer to the comp
Slide 32: La Brujas Mine
La Brujas Mine Company Sample Type Width Au (g/t) Ag (g/t) (m) CRM Chip 3.5 1.2 59 IMMSA Chip 1.0 2.7 19 IMMSA Chip 1.0 3.2 111 IMMSA Chip 1.0 3.1 28 Historic amples collected by CRM – Consejo de Recursos Minerales 1976 and IMMSA (subsidiary of Grupo Mexico) 1983. Please refer to the company’s ASX r
Slide 33: Peru Mine
Peru Mine Company Sample Type Width Au (g/t) Ag (g/t) (m) CRM Chip 1.5 25.2 284 IMMSA Chip 2.5 3.2 111 Historic samples collected by CRM – Consejo de Recursos Minerales 1976 and IMMSA (subsidiary of Grupo Mexico) 1983. Please refer to the company’s ASX release dated 25th November 2019 for JORC table
Slide 34: Foreign Mining and Exploration Co's in Mexico
Foreign Mining and Exploration Co’s in Mexico Agnico-Eagle Mines Limited Garibaldi Resources Corp. Mexus Gold US Silver Spruce Resources Inc. Alamos Gold Inc. Gogold Resources Inc. Millrock Resources Inc. Silver Viper Minerals Corp. Alien Metals Ltd. Gold Resource Corp. Minaurum Gold Inc. SilverCres
Slide 35: For Further Information Contact
For Further Information Contact: Adrien Wing Non-Executive Director and Company Secretary +61 3 9614 0600 John Skeet Sun Minerals jskeet@sunminerals.com.au +61 435 766 809 Mark Flynn Investor Relations mflynn@mithrilresources.com.au +61 416 068 733 M I T H R I L R E S O U R C E S L T D .