Mithril Silver and Gold Says Maiden Drilling At Mexico Target Confirms Silver Mineralization, Shares Fall 9%

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Mithril Silver and Gold (ASX:MTH) said a maiden drill program at Target 5 confirmed a large silver-rich target in the south-west of the Copalquin District in Mexico, according to a Wednesday Australian bourse filing.

The drilling encountered intercepts of 2.85 meters at 145 grams per tonne grade of silver-equivalent, including 1.14 g/t grade of gold and 65 g/t grade of silver from 79.6 meters, as well as 3.05 meters at 170 g/t grade of silver-equivalent, including 0.07 g/t grade of gold and 165 g/t grade of silver from 193.05 meters.

Further drilling at the target will focus on known zones of high-grade mineralisation based on the work done to date and the results of an aeromagnetic survey.

It also began phase IV drilling at Target 1 to complete a resource update and a maiden drill program at Target 3.

The firm's shares fell 9% in recent trading on Wednesday.

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