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A Nickel Sulphide Explorer
A Nickel Sulphide Explorer AMEC National Investor Briefing Roadshow Sydney September 15th, 2007 www.mithrilresources.com.au Mithril Resources - Highlights Greenfield Nickel Explorer Strong Project Portfolio – Large landing holding, >49,000 km2 – Focus on emerging nickel belts – Alliance with BHP Billiton Aggressive Exploration Programme for 2008 Experienced Corporate & Exploration Team 2 Mithril Resources Ltd “Growth through the discovery and development of nickel sulphide resources” ASX Listed MTH Outstanding Shares 47.1M Market Cap $12.2M Cash on hand $5.1M Substantial Shareholders – Minotaur Resources Investments Pty Ltd – Consolidated Nickel Pty Ltd 19% 17% 3 Mithril Resources Ltd Graham Ascough Managing Director John Roberts Chairman Gary Snow Non-exec Director Peter Gower Richard Bonython Non-exec Director Derek Carter Non-exec Director Don Stephens Non-exec Director/ Company Secretary Non-exec Director 4 Mithril Resources – Location Map MITHRIL’S EXPLORATION PROJECTS 14 Joint Ventures 34 Granted EL’s/ML’s 36 EL Applications 49,790 km2 Darwin 5000 km VTEM Survey In Progress Junction JV Andrew Young Bulloo Downs Byro Access Granted, Alice Springs Field Activities Nov, 2007 Casey 2000m Drill Program Sept, 2007 Perth Tanami JV Hammer Hill JV Indiana JV Silver Swan Kalgoorlie North Drilling Complete Spin-out to Meridian Minerals IPO SA Musgrave Brisbane Ni Sulphides Dominion JV Intersected Barton Cooper Hill Talia Hill JV Kalli JV Koonenberry Ceduna JV Adelaide Coolac Boomey Sydney Melbourne 5 Genetic Model for Nickel Sulphide Ores ORE Norilsk erosional level Subvolcanic staging chambers Upper crustal sediments Shallow sill and dyke complex ORE Mid-crustal metamorphic rocks 30-40 km Mid-crustal magma chamber complex Voisey’s Bay Erosional level Nickel Sulphide Deposits are associated with: Mafic/Ultramafic rocks Large magmatic complexes Mantle tapping structure(s) Magma Plumbing System Sulphides occur on the basal contact of intrusions/flows Deep crustal granites and gneisses Deep level magma chamber S Barnes CSIRO If shallow - detectable by geochemical and EM methods 6 Huckitta Project Area - NT y TANAMI JV Mithril – Tanami JV (Mithril Earning 80%) Railwa An Emerging Ni Belt? PLENTY HWY HAMMER HILL JV Mithril – Arafura JV (Mithril Earning 70%) Y HW ART STU ALICE SPRINGS INDIANA JV Mithril - BHP Billiton JV (BHP Billiton Earning 65%) 25 kilometres 7 Huckitta – Regional Geology & M/UM Rocks PLENTY HWY Outcropping Ultramafic Bodies 8 Huckitta – Magnetics (1VD) 9 Huckitta – Magnetics (1VD) & Ni Anomalism 0.3% Ni, 750ppm Cu (rock chip) 0.54% Ni (rock chip) 1084ppm Cu, 619 ppm Ni (Mag Lag) 0.7% Ni (rock chip) Coincident EM and Magnetic Target 10 Huckitta - Summary 0.3% Ni, 750ppm Cu (rock chip) 0.54% Ni (rock chip) 0.7% Ni (rock chip) Favourable geological setting Limited historic exploration Anomalous Ni-Cu values VTEM survey in progress 1084ppm Cu, 619 ppm Ni (Mag Lag) 11 Mithril Resources – Location Map Darwin Junction JV Andrew Young Bulloo Downs Tanami JV Hammer Hill JV Indiana JV Alice Springs Casey Byro SA Musgrave Brisbane Dominion JV Perth Silver Swan Kalgoorlie North Barton Cooper Hill Talia Hill JV Kalli JV Koonenberry Ceduna JV Adelaide Coolac Boomey Sydney Melbourne 12 Dominion JV – South Australia Located 740km northwest of Adelaide Challenger Mine Site Numerous mafic-ultramafic bodies identified Target: Mafic Ultramafic Bodies Compares favourably to the Thompson Ni Belt, Canada Covers 3332 Km2 Limited nickel exploration Aristarchus Prospect Mithril earning a 75% interest through expenditures of $5M/6 years 20 km Mithril can earn 75% (nickel and associated elements) 13 Dominion JV – Aristarchus Area Magnetics Nickel sulphides identified Large mafic body untested Anomalous Ni-Cu-Pt values Downhole/Ground EM in progress DMDD002 0.45m @ 0.16%Ni & 0.23g/t Pt-Pd DMDD003 DMDD001 Aristarchus 2006 Ground EM Coverage AEM Anomaly 1km Anomalous nickel, copper, platinum 14 Mithril’s Land Holding - Musgrave Province, SA NEBO / BABEL (BHP Billiton) - Large, low grade nickel deposit - Mithril has access to data through the Alliance Access Deed in Place PepinNini’s Mt Harcus Prospect Host to large under-explored mafic complex Anangu Pitjantjatjara Yankunytjara (“APY”) Land 15 Musgrave Barrick JV’s - ELA’s 104/07, 105/07 Mann Fa ult Previous Work (Rio Tinto 2000-02) >90% covered by thin sand Airborne EM Id’s 13 Targets 3 Drillholes, anomalous Pb-Zn-Ag Did not test large magnetic anomalies (interpreted to be Giles Complex) 16 Musgrave Barrick JV - ELA’s 104/07, 105/07 Mann Fa ult Planned Work Programme Ground Geophysics (EM) Mapping and Sampling 3 Traverses of Aircore Drilling 17 SA Musgrave - Magnetics Tenements Under Negotiation with APY ELA52/97 (Mithril/PMC) ELA380/97 (Mithril/Integra) ELA54/97 (Mithril/PMC) PepinNini’s Mt Harcus Project Sulphide-bearing mafic rocks intersected in drilling (Aug 07) 0 30km 18 Mithril Resources – Location Map Darwin Junction JV Andrew Young Bulloo Downs Tanami JV Hammer Hill JV Indiana JV Alice Springs Casey Byro SA Musgrave Brisbane Dominion JV Perth Silver Swan Kalgoorlie North Barton Cooper Hill Talia Hill JV Kalli JV Koonenberry Ceduna JV Adelaide Coolac Boomey Sydney Melbourne 19 Silver Swan North JV (BHPB-MTH-FerrAus JV) Silver Swan 640kt @ 9.5%Ni Black Swan 10.4Mt @ 0.83%Ni 20 Silver Swan North JV Mithril Drillholes on Magnetics Magnetic Bodies Map High MgO Ultramafic Silver Swan 640kt @ 9.5%Ni Black Swan 10.4Mt @ 0.83%N 1 km 21 Silver Swan North JV 3D Mag Inversion – North Block Km ~3 TMI Image @ 200m Vertical Depth 22 Silver Swan North JV – Proposed Drilling (Blue) SNDD020 SNDD021 SNDD023 SNDD022 TMI Im m Vertica 0 7 4 @ e ag l Depth 23 Silver Swan North – Proposed Drilling with DHEM Search Radius of 75m SNDD020 SNDD021 SNDD023 SNDD022 TMI Im m Vertica 0 7 4 @ e ag l Depth 24 Mithril Resources Ltd - Summary Strong portfolio of quality projects – Nickel focus – Exposure to copper, uranium & mineral sands Aggressive exploration programme over the next 6-12 months Highly leveraged on exploration expenditure Well placed for discovery in strong nickel market 25