Mithril exits Pardoo JV

Base metals explorer Mithril Resources has withdrawn from its Pardoo farm-in joint venture with Segue Resources to focus on other projects.

Mithril, which recently compelted an over-subscibed $12 million raising, will focus its attention on its Huckitta gold, copper and nickel; prospect in the Northern Territory, as well as other wholly owned tenements in WA.

Mithril Resources managing director Graham Ascough said the company had not met its joint venture expenditure requirements over the past 12 months due to its commitments at its other tenements.

The company will use the funds raised by its share placement to accelerate exploration at Huckitta, where drilling is scheduled to commence in March.