Slide 1: Project Update December 2011
For personal use only Bigglesworth IOCG discovery gossan 28th November 2011 Project Update December, 2011 HIGHLIGHTS Recent IOCG discoveries (Bigglesworth and Austin) Strong pipeline of new targets to be drill tested in 2012 Strong Cash Position (~$7M) Highly Experienced Technical and Manage
Slide 2: Mithril Resources Ltd – Summary
Mithril Resources Ltd – Summary Capital Structure For personal use only Shares on Issue (ASX:MTH) 219.6M Unlisted Options 24.1M Cash (30 November 2011) $7.0M Market Cap @ $0.06 $13.2M Enterprise Value ~$5.2M Investments Musgrave Minerals (ASX:MGV) 9.28M shares East Pilbara Junction MGV
Slide 3: Huckitta Project: Main Prospects and Mineral Occurrences
Huckitta Project Main Prospects and Mineral Occurrences For personal use only Plenty Highway Yoda 15.4g/tAu, 0.4%Cu Tibbs Baldrick 13.9g/t Au, 0.7%W 2.3%Ni, 2.4%Cu Basil Copper Trend (>10km) Blackadder Up to 6.3% Cu at surface 3 .8%Ni, 9.6%Cu Polly Copper Trend 2.5km) Up to 8.4% Cu at surface Manuel
Slide 4: Emerging Mineral Province with Strong Fundamentals
Emerging Mineral Province with Strong Fundamentals First Discovery of Nickel Sulphides in late 2008 For personal use only Surface rockchips from Blackadder confirm NiS targeting A First Significant Discovery in late 2009 Basil Copper-Cobalt Prospect (10km of mineralisation at surface) Demo
Slide 5: Huckitta: Basil Copper Prospect (South)
Huckitta: Basil Copper Prospect (South) Broad intervals of semi-massive sulphides LB069DD For personal use only LB070DD Cu/Co LB080DD Peaks Mineralised Zone Mineralised Zone LB079DD LB077DD 7.0m@0.92%Cu Basil Mineralised Trend LB052DD LB063DD LB072DD All Drillholes LB061DD LB055DD LB067DD 11.5m@1.01
Slide 6: Peaks Cu Long Section – Plane of Mineralisation
Peaks Cu Long Section – Plane of Mineralisation (true width intercepts) 29100E 29200E 29300E 29400E 29500E 29600E 29700E For personal use only Surface 100m LB060DD LB051DD 16m@0.29%Cu, 0.02%Co 12m@0.55%Cu, 0.02%Co 100m -75mRL LB061DD LB062DD 13m@0.45%Cu, 0.02%Co LB083DD 3m@0.76%Cu, 6.3m@0.22%Cu, 0.0
Slide 7: Basil Copper Prospect - Next Steps
Basil Copper Prospect - Next Steps Peaks Zone For personal use only LB078DD – 12.4m@1.14%Cu, 0.06%Co and 8m@1.2%Cu, 0.04%Co. Massive and semi-massive sulphides Resource modelling and target generation on the 10km long Basil copper trend Downhole EM surveys completed in deepest drillhole on each
Slide 8: IOCG Target Area (30km south of Basil) – Residual Gravity
IOCG Target Area (30km south of Basil) Residual Gravity New copper/gold prospects Bigglesworth Prospect For personal use only identified on Huckitta South Copper / Gold mineralisation at surface Widespread copper in hematite veining mineralisation and hematite- Austin Prospect alteration that is
Slide 9: IOCG Target Area (30km south of Basil) – Regional Magnetics
IOCG Target Area (30km south of Basil) Regional Magnetics New copper prospects Bigglesworth Prospect For personal use only identified on Huckitta South Copper mineralisation at surface in hematite Widespread copper veining mineralisation and hematite- Austin Prospect alteration that is consisten
Slide 10: Bigglesworth Prospect – looking west
Bigglesworth Prospect – looking west Copper rich veins in granite Multiple cross cutting For personal use only IOCG alteration events 120m Altered granites Altered granites Page 10
Slide 11: Copper mineralisation at the Bigglesworth Prospect
Copper mineralisation at the Bigglesworth Prospect (Looking SE) Large gravity anomaly under thin cover – source unknown For personal use only Mapped mineralisation 500m to SE Mineralised horizons continue under cover to southeast Intense silica hematite alteration 3-5m thick in granite with common c
Slide 12: Copper mineralisation at the Austin Prospect
Copper mineralisation at the Austin Prospect For personal use only Outcropping ridge of hematite veining in altered granites (looking east) Malachite (copper) mineralisation (green) in hematite vein Altered granite Hematite-silica veins Page 12
Slide 13: Austin Copper Prospect IP Geophysical Anomalies
Austin Copper Prospect IP Geophysical Anomalies For personal use only Area under thin cover B Copper Mineralisation at surface Intense alteration over 2km 1km A Copper Mineralisation at surface Area under thin cover Area under thin cover A IP Line 1 - Inversion Model B DRILL TARGETS 300m Page 13
Slide 14: Regional Targets – Aircore & RC Drilling
Regional Targets – Aircore & RC Drilling Targets IVT017 and 020 For personal use only Base metal targets – RC drilling and aircore drilling Ground EM conductor testing geophysical targets under shallow cover and the Yoda Gold Prospect Tibbs gold prospect 21g/t Au, coincident IP anomalies Tibbs Gold
Slide 15: Tibbs Gold Prospect
Tibbs Gold Prospect For personal use only New Gold (+/- tungsten & copper) Prospect identified November 2010 Surface grab samples up to 13.9g/t gold (‘Au’), 0.7 % tungsten (‘W’) & Magnetic anomaly 2.1% copper (‘Cu’) RC DRILL TARGET Mineralisation appears to be controlled by sub-vertical struct
Slide 16: Yoda Gold - Copper Prospect
Yoda Gold - Copper Prospect Drilling planned 2012 For personal use only EL28336 (MTH - 100%) 1km 15.4g/tAu, 0.4%Cu 21.5g/tAu Coincident magnetic and IP anomalies under thin cover 4.8g/tAu A 0.14g/tAu, 2.5%Cu B A IP Line - Inversion Model B DRILL TARGETS 200m Page 16
Slide 17: Mithril and MMG enter Agreement to accelerate nickel exploration at Huckitta
Mithril and MMG enter Agreement to accelerate nickel exploration at Huckitta For personal use only Nickel only Option and JV Agreement. MMG to earn 51% by completing $4M in Exploration. MMG may earn up to 80% by completing a Pre- Feasibility study that includes a „JORC‟ Indicated Mineral Resou
Slide 18: Huckitta and Yambah Projects on regional Magnetics
Huckitta and Yambah Projects on regional Magnetics with key prospects For personal use only Coles Hill Yoda Harry Creek Tibbs Blackadder/Baldrick Geko Rankins Basil Turners Bigglesworth Austin Page 18
Slide 19: Yambah Project, NT
Yambah Project, NT For personal use only 6m@6.5%Zn from 131m Wholly owned tenements well located along Stuart Hwy and Ghan Railway 1.6%Cu in rockchips Prospective for base metal 4m@2% Zn from 39m mineralisation (VMS) Multiple mineral 1.6m@7.8%Zn, occurrences, up to 1.42%Pb, 0.5%Cu 6m@6.5%Zn in
Slide 20: East Pilbara Tenement Locations
East Pilbara Tenement Locations Six wholly owned tenements totalling For personal use only 701km2 Prospective for nickel, copper, iron ore & gold Port Hedland Pardoo (Atlas) High Priority VTEM conductors associated with nickel and copper Goldsworthy mineral occurrences - consistent with (BHP) Shay G
Slide 21: East Pilbara - Cattle Well Targets
East Pilbara - Cattle Well Targets Drilling in 2012 For personal use only TALGA EAST Mapped Ultramafic New gossan identified 2km long and coincident with E45/3457 discrete VTEM anomaly. Rockchips to 0.48%Cu, 0.31g/t Au and 22.7g/tAg E45/3680 Coincident VTEM , magnetic anomalies and nickel sulphide p
Slide 22: West Pilbara Nickel Project
West Pilbara Nickel Project For personal use only Two wholly owned tenements Karratha covering 172km2 Demonstrated magmatic nickel and PGE potential Proximal to Radio Hill mining operation and the Munni-Munni PGE deposit E47 / 2258 Radio Hill Well positioned with regard to Ni Deposit road rail and p
Slide 23: Musgrave Minerals IPO
Musgrave Minerals IPO Listed April 29th, 2011 For personal use only Page 23
Slide 24: The Project Pipeline
The Project Pipeline Planned activity on the main prospects For personal use only Project/Prospect Target The next 6 months Huckitta – Basil (Cu-Co) 10 km long copper trend, broad Resource modelling and further drilling intersections of copper in 2012 Huckitta – IOCG Widespread IOCG alteration and c
Slide 25: Mithril Resources Limited - Summary
Mithril Resources Limited - Summary STRONG PROJECT PORTFOLIO For personal use only Huckitta, NT Resource modelling and target generation on the 10km long Basil copper trend Widespread IOCG alteration discovered with outcropping copper mineralisation at two new prospects Regional program continue
Slide 26: Important Notices
IMPORTANT NOTICES Disclaimer For personal use only This presentation has been prepared by Mithril Resources Limited (Mithril). The information contained in this presentation is a professional opinion only and is given in good faith. Certain information in this document has been derived from third pa