Slide 1: Copalquin Mining District, Mexico – Noosa Mining Conference
For personal use only ASX:MTH Copalquin Mining District, Mexico Noosa Mining Conference 20th July 2022
Slide 2: Competent Person and Disclaimer
COMPETENT PERSON The release, publication or distribution of this presentation in certain The information in this report that relates to sampling techniques and data, exploration results and geological jurisdictions may be restricted by law and therefore persons in such interpretation has been compi
Slide 3: Corporate Snapshot
CORPORATE SNAPSHOT ASX Ticker MTH Top 20 Shareholders For personal use only Share Price (19th July, 2022) A$0.006 Board & Management 26.0% Shares on issue 2,930m Institutional 5.2% Options & Perf. Rights 175m & 33.3m Other 17.6% Market cap (undiluted) A$17.5m Debt - TOTAL TOP 20 48.8% Cash March Qtr
Slide 4: Mexico Mining and Economy
MEXICO MINING AND ECONOMY Global Metal Production Rankings^ For personal use only Metal Mexico Australia World’s Larger Silver Silver #1 #5 Producing Company – Fresnillo PLC, Mexico Lead #5 #2 based & London Listed Zinc #6 #2 Copalquin Ag-Au District Gold #9 #3 Copper #9 #6 • Mexico attracts most fo
Slide 5: Copalquin Gold Silver District History
For personal use only COPALQUIN GOLD SILVER DISTRICT HISTORY Discovery 1849 first mining at the El Refugio mine. Production Years Several multi-level mines until the Mexican revolution (1910). By 1890’s a 20 head stamp battery and cyanidation vats operated. Modern Exploration 1990’s Kennecott, Grupo
Slide 6: Exploration Timeline
EXPLORATION TIMELINE Extension of El Commencement of Refugio – west, For personal use only Copalquin acquisition drilling at La Soledad completion of by Sun Minerals, legal with first bonanza Bonanza intercept Placement A$3.3m metallurgy and and tax remediation, intercept, A$3.5m CDH-050 at El Refug
Slide 7: High-Grade Gold-Silver Intercepts
HIGH-GRADE GOLD-SILVER INTERCEPTS From To Length Au Ag AuEq* g/t AuEq* For personal use only Hole ID Interval Interval Interval interval interval (g/t) xm (m) (m) (m) (g/t) (g/t) LA SOLEDAD CDH-001 111.00 114.00 3.00 34.7 3,129 79.43 238.28 LOS REYES CDH-040 91.55 93.77 2.22 32.3 185 34.99 77.67 CDH
Slide 8: Maiden Mineral Resource Estimate – High Grade
MAIDEN MINERAL RESOURCE ESTIMATE – HIGH GRADE 2,416,000 TONNES CONTAINING UPSIDE FOR THIS TYPE OF RESOURCE For personal use only 373,000 OZ GOLD @ 4.80 G/T • HIGH-GRADE UNDERGROUND MINING 10,953,000 OZ SILVER @ 141 G/T • LOW PLANT CAPEX FOR HIGH METAL PRODUCTION TOTAL 529,000 OZ AUEQ* @ 6.81 G/T AUE
Slide 9: Metallurgy – High Recoveries, Standard Flowsheet
METALLURGY – HIGH RECOVERIES, STANDARD FLOWSHEET GOLD – 96% FLOTATION/LEACH RECOVERY SILVER – 91% FLOTATION/LEACH RECOVERY CRUSH/GRIND For personal use only HIGH FLOTATON RECOVERIES HIGH CYANIDATION RECOVERIES FLOTATION 75 µm Au Flotation Kinetics Au / Ag Leaching of Flotation Concentrate 100 100.0
Slide 10: Mining Concepts Study – El Refugio
MINING CONCEPTS STUDY – EL REFUGIO Mining concepts study – conventional mining methods For personal use only Outcomes of the study will aid design of the future drilling at El Refugio Underground exploration access as part of longer-term mining development Geotechnical program for future detailed mi
Slide 11: Indications of a Large, Deep System
INDICATIONS OF A LARGE, DEEP SYSTEM • A silver district with high-grade gold For personal use only • Largely preserved epithermal system – insignificant erosion ‘Jigsaw’ biotite in drill core • Drill core observations indicate multiple events and evidence of stacked boiling zones • High energy syste
Slide 12: Progress in the District
For personal use only PROGRESS IN THE DISTRICT El Refugio 529,000koz AuEq high-grade JORC resource*
Slide 13: Resource Growth – District Middle Mineralised Trend
RESOURCE GROWTH DISTRICT MIDDLE MINERALISED TREND For personal use only • EXPANSION OF THE EL REFUGIO RESOURCE ALONG WEST AND EAST • SIGNIFICANT DEPTH POTENTIAL CONFIRMED BY RECENT DRILLING • DEVELOPMENT OF THE DRILL TARGETS EAST ALONG THE MIDDLE TREND OF MINERALISATION 700m quartz breccia Strong Au
Slide 14: Resource Growth – Copalquin District South Mineralised Trend
RESOURCE GROWTH COPALQUIN DISTRICT - SOUTH MINERALISED TREND For personal use only • INITIAL DRILLING AT SAN MANUEL TARGET AREA • CONTINUE TARGET DEVELOPMENT AROUND SAN MANUEL • CONTINUE TARGET DEVELOPMENT AT LAS BRUJAS-EL PERU – HIGH-GRADES IN WORKINGS • MAPPING AND SAMPLING (SOILS & ROCK CHIP) – B
Slide 15: Global Epithermal Vein Deposits
GLOBAL EPITHERMAL VEIN DEPOSITS Like many epithermal vein deposits throughout For personal use only Mexico and the world, the Copalquin District is another for the list Copalquin – Mexico Hishikari – Japan Pajingo – Australia Cracow – Australia La Soledad Vein Mariana Norte Chatree - Thailand Copalq
Slide 16: The Opportunity
THE OPPORTUNITY • COPALQUIN – A DISTRICT SCALE PROPERTY – A SILVER DISTRICT WITH For personal use only HIGH-GRADE GOLD • MAIDEN RESOURCE IN ONLY 15 MONTHS @ US$14.30 ALL-IN COST PER OUNCE AUEQ • HIGH-GRADE RESOURCE – 141 G/T SILVER + 4.80 G/T GOLD • 91% SILVER AND 96% GOLD RECOVERIES BY CONVENTIONAL
Slide 17: Visit the Mithril Resources Booth
Visit the Mithril Resources Booth at the Noosa Mining Conference 20-22 July 2022 For personal use only John Skeet Mark Flynn Managing Director/CEO Investor Relations +61 435 766 809 Authorised for+61release 416 068 by: 733 John Skeet, MD and CEO 8 March 2022 jskeet@mithrilresources.com.au mflynn@mit