Slide 1: Investor Update Presentation
Investor Update Presentation David Hutton - Managing Director 5 August 2013
Slide 2: Disclaimer and Competent Persons Statement
Disclaimer 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 parties and though Mithril has no reason t
Slide 3: Highlights
Highlights Australian copper – gold exploration company Run by explorers Strongly leveraged to exploration success Copper focus JV partner (MMG Limited) sole funding and managing nickel exploration Significant growth catalysts over next 3 months Copper – 3,000m RC drill program commencing 1st week o
Slide 4: Corporate Snapshot (ASX: MTH)
Corporate Snapshot (ASX: MTH) Shares on issue 219.6 million Options (unlisted) 19.3 million Market Cap $6.6 million (at 3 cents) Cash (at 1 July 2013) $2.18 million Investments $0.6 million (7.68% of Musgrave Minerals Ltd) Enterprise Value $3.8 million Top 40 hold 45% Minotaur Resources (10%) and Li
Slide 5: Board and Senior Management
Board and Senior Management David Hutton Geologist (23 years experience) including roles at Mount Isa Mines Managing Director (copper), LionOre (nickel) and Western Metals (lead-zinc) Graham Ascough Geophysicist (25 years experience) including senior roles at Chairman Falconbridge (nickel and copper
Slide 6: East Arunta Project Area – copper and nickel
East Arunta Project Area – copper and nickel Copper drilling commencing 1st week September Page 6
Slide 7: Copper Search Area
Copper Search Area Copper Search Area Illogwa IOCG Area Page 7
Slide 8: Copper Search Area – first mover advantage
Copper Search Area – first mover advantage Plenty Highway El Gordo IOCG target Austin IOCG diamond drill core No modern exploration with Mithril discovering Illogwa IOCG in 2011 Outcropping copper – NO PREVIOUS DRILLING Mithril’s first drilling in 2012 intersected copper (i.e. 14m @ 0.34% Cu from 18
Slide 9: Copper Search Area – outcropping copper
Copper Search Area – outcropping copper Copper rich veins in granite Multiple IOCG alteration events 120m Altered granite Altered granite Bigglesworth IOCG target Page 9
Slide 10: Copper Drill Targets – to be tested September 2013
Copper Drill Targets – to be tested September 2013 Mini Me West 800m long VTEM / IP geophysical anomaly with coincident outcropping (MTH 80% / CAZ 20%) copper. Rock chips up to 1.91% Cu. No previous drilling El Gordo 800m long outcropping copper zone. VTEM anomalies. Rock chips to (MTH 80% / CAZ 20%
Slide 11: Mini Me West Area – magnetics
Mini Me West Area – magnetics Plenty Highway Page 11
Slide 12: Mini Me West Area – copper soil anomalies
Mini Me West Area – copper soil anomalies Plenty Highway Page 12
Slide 13: Mini Me West – combined geophysical anomaly
Mini Me West – combined geophysical anomaly IP Chargeability background image with VTEM conductor and rock chip results IP Chargeability Anomaly 10x background VTEM Conductor Page 13
Slide 14: Red Rock Bore – geophysical anomaly
Red Rock Bore – geophysical anomaly Magnetics background image with zinc-copper zone, drilling and targets Along strike target area Parallel IP anomaly - with no previous drilling Outcropping zinc-copper zone Along strike target area Page 14
Slide 15: Nickel Search Area
Nickel Search Area Nickel Search Area Page 15
Slide 16: Nickel Search Area – confirmed prospectivity
Nickel Search Area – confirmed prospectivity Plenty Highway Nickel gossan – Blackadder prospect Blebby nickel sulphides – Baldrick prospect Nickel prospectivity confirmed by Mithril discovery (2008) of Ni-Cu-PGE mineralised mafic intrusive bodies throughout search area MMG earning up to 80% (Nickel
Slide 17: West Kambalda Project Area - gold
West Kambalda Project Area - gold Pipeline of high-grade targets Page 17
Slide 18: Gold Search Area
Gold Search Area 100% owned and JV’s Strategically located High-grade gold belt Targeting another Wattle Dam Deposit Multiple drill targets Majority of historic drilling ineffective Mithril’s recent drill results reinforce potential 14m @ 6.75g/t gold incl. 6m @ 12.67g/t 8m @ 10.30g/t gold incl. 3m
Slide 19: Gold Search Area – geological setting
Gold Search Area – geological setting KAMBALDA Spargos Reward produced ~30,000ozs @ 8g/t gold Lady Allison Inferred Resource – 87,000ozs Kunanalling Shear Zone Wattle Dam produced 262,000ozs @ 10.9g/t gold Page 19
Slide 20: Spargos Reward Gold Mine
Spargos Reward Gold Mine Discovered - early 1930’s Mined - 1936 to 1942 and 1989 to 1991 (~30Koz produced @ 8g/t gold) Purchased - late 2012 ($200K cash) New geological model 500 metres Shear hosted with multiple lodes Remains open in all directions Gold zone – drill core KWDD007 Page 20
Slide 21: Spargos Reward Gold Mine - Targets
Spargos Reward Gold Mine - Targets Page 21
Slide 22: Gold Search Area - regional targets
Gold Search Area - regional targets Spargos Reward (30,000ozs @ 8g/t gold) Spargos Reward South Lady Allison (87,000ozs) Logan’s Find Gold soil anomalies – gridded image of all data Aeromagnetic image Page 22
Slide 23: Highlights
Highlights Australian copper – gold exploration company Run by explorers Strongly leveraged to exploration success Copper focus JV partner (MMG Limited) sole funding and managing nickel exploration Significant growth catalysts over next 3 months Copper – 3,000m RC drill program commencing 1st week o
Slide 24: Resource Inventory
Resource Inventory Basil Copper Deposit (MTH 100%) Copper cut off Contained copper Contained cobalt JORC Category Tonnes (Mt) Copper (%) Cobalt (ppm) grade (%) (tonnes) (tonnes) Inferred 0.3 26.5 0.57 504 151,050 13,356 Inferred 0.1 90.0 0.28 309 252,000 27, 810 Lady Allison Gold Deposit (MTH right
Slide 25: For further information
For further information: David Hutton – Managing Director admin@mithrilresources.com.au 08 8378 8200