Slide 1: Exploration Update
Exploration Update For personal use only High-grade WA gold drilling next week 9 November 2017 Xx August 2017 MTH:ASX | EXPLORATION UPDATE Slide 1
Slide 2: Snapshot
Snapshot For personal use only Drilling high-grade gold (WA) Kombi Gold Prospect Fenceline Gold Prospect Generating new zinc targets (WA) Billy Hills Zinc Project Generating new copper targets (WA) Southern Target Area 9 November 2017 MTH:ASX | EXPLORATION UPDATE Slide 2
Slide 3: Indicative Activity Timetable
Indicative Activity Timetable For personal use only 2017 | 2018 Sep Oct Nov Dec Jan Feb Mar Kombi Gold Prospect (WA) Drill program Fenceline Gold Prospect (WA) Drill program Billy Hills Zinc Project (WA) Data compilation and target generation Southern Target Area (WA) EM geophysics 9 November 2017 M
Slide 4: Drilling high-grade gold
Drilling high-grade gold For personal use only • Meekatharra, WA • Long - lived mining area • Within trucking distance of existing gold mills Fenceline • Area of new gold discoveries – Kombi i.e. Break of Day / Lena (MGV:ASX) • 1,000m Reverse Circulation drill program commencing next week 9 November
Slide 5: Kombi Gold Prospect
Kombi Gold Prospect For personal use only • Mithril earning up to 75%¹ • Shallow historic workings (<10m deep) with reported production grade of 10.8g/t gold • +100ppb gold in soil anomaly over 120 metres strike length • No previous drilling beneath 25 metres Kombi Gold Prospect – looking southeast
Slide 6: Kombi Gold Prospect
Kombi Gold Prospect For personal use only • Mithril’s maiden drilling returned high-grade gold at less than 20 metres depth: 4m @ 12.76g/t gold, and 1m @ 5.44 g/t gold • Intercepts remain open in all directions • Two lode structures? • Follow-up drilling to commence next week (as part of 1,000m
Slide 7: Kombi Gold Prospect – two lode structures?
Kombi Gold Prospect – two lode structures? For personal use only Kombi Gold Prospect – NRC17001 (left) and NRC17004 (right) cross sections. Sections shown at same scale approximately 100 metres apart 9 November 2017 MTH:ASX | EXPLORATION UPDATE Slide 7
Slide 8: Kombi Gold Prospect – two lode structures?
Kombi Gold Prospect – two lode structures? For personal use only 9 November 2017 MTH:ASX | EXPLORATION UPDATE Slide 8
Slide 9: Kombi Gold Prospect: follow-up drill holes
Kombi Gold Prospect: follow-up drill holes For personal use only NRC17001 cross section NRC17004 cross section 9 November 2017 MTH:ASX | EXPLORATION UPDATE Slide 9
Slide 10: Fenceline Gold Prospect
Fenceline Gold Prospect For personal use only • Mithril 100% • Sub-cropping quartz vein over 120 metres with rock chip samples up to 8.22g/t gold • Open to south where covered by surface gravels • Never been drilled • Drilling to commence next week (as part of 1,000m RC drill program) Fenceline Gold
Slide 11: Fenceline Gold Prospect
Fenceline Gold Prospect For personal use only Fenceline Gold Prospect – close up photo of ferruginous vein quartz that assayed 3.01g/t gold 9 November 2017 MTH:ASX | EXPLORATION UPDATE Slide 11
Slide 12: Generating new zinc targets
Generating new zinc targets For personal use only • Lennard Shelf - West Kimberley, WA • Historical producer of clean, high-grade zinc concentrate highly sought after by global smelting companies • New Billy Hills Project adjoins the district’s largest deposit - Pillara Reported Pre-mine Resources*
Slide 13: Billy Hills Zinc Project
Billy Hills Zinc Project For personal use only • Mithril 100% • Covers extensions to key structures that control Pillara mineralisation • Multiple outcropping zinc occurrences • Majority of historic exploration to the north of Billy Hills on the Pillara Mine Lease • Data compilation and target gener
Slide 14: Billy Hills: importance of structural controls
Billy Hills: importance of structural controls For personal use only 9 November 2017 MTH:ASX | EXPLORATION UPDATE Slide 14
Slide 15: Generating new copper targets
Generating new copper targets For personal use only • Meekatharra, WA • Mithril 100% • 13 kilometre magnetic trend • South of Kombi • Extending from known copper, nickel and zinc mineralisation • Completely untested with no previous drilling or geophysics • EM geophysics to commence late November 20
Slide 16: Other Projects
Other Projects For personal use only Gold and nickel targets (WA) Kalgoorlie Projects A copper - cobalt deposit (NT) Leaky Bore Project 9 November 2017 MTH:ASX | EXPLORATION UPDATE Slide 16
Slide 17: Kalgoorlie (WA)
Kalgoorlie (WA) For personal use only • WA’s premier mining district • All projects close to existing mills • Lignum Dam (Mithril 100%) Nickel and gold targets Seeking an exploration partner • Kurnalpi (Mithril 100% and JV partner) JV partner assessing nickel and gold targets • Spargos Reward
Slide 18: Leaky Bore (NT)
Leaky Bore (NT) For personal use only • East Arunta District • Mithril 100% • Outcropping Basil Copper Cobalt Deposit Inferred Resource - 26.5Mt @ 0.57%Cu, 0.05%Co • Lies within broader 10km trend with numerous poorly tested drill targets • Seeking an exploration partner Looking south towards the
Slide 19: Corporate details
Corporate details For personal use only Overview Shares on Issue: 975M | Options (unlisted): 26.9M Market Cap (@ 0.3 cents): $2.92M | Cash (end Sept 17 Qtr.): $0.65M | EV: $2.27M Shareholders: 1,846 | Top 40 hold 36% : 94.3% Retail, 5% Directors, 0.7% Institutions Directors and Management Graham Asc
Slide 20: Notes Specific
Notes Specific Footnotes: For personal use only ¹ The Nanadie Well Copper Deposit, the Stark Copper Prospect and the Kombi Gold Prospect lie on tenements owned by Intermin Resources (IRC:ASX) whereby Mithril can earn a 60% interest by completing expenditure of $2M by 14 April 2019 (approximately $1.
Slide 21: Competent Persons Statement / Disclaimer
Competent Persons Statement / Disclaimer For personal use only The information in this report that relates to Exploration Targets, Exploration Results, and the Basil Mineral Resource is based on information compiled by Mr David Hutton, who is a Competent Person, and a Fellow of The Australasian Inst
Slide 22: Contact Details
Contact Details For personal use only Website : www.mithrilresources.com.au Address : 22B Beulah Road, Norwood SA 5067 Email : dhutton@mithrilresources.com.au Phone : 08 8132 8800 @MTHResources