2 may 2012 md presentation to investors at sareic for personal … · 2012. 5. 2. · 60 king...
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60 King William Road, Goodwood, South Australia 5034
Telephone: (61 8) 8378 8200 Fax: (61 8) 8271 0037
Web: www.mithrilresources.com.au Email: [email protected]
ABN: 30 099 883 922
2 May 2012
MD presentation to Investors at SAREIC Attached please find a presentation made by Mithril’s Managing Director, Graham Ascough at the South Australian Resources and Energy Investment Conference (‘SAREIC’). The presentation provides an update on the Company’s activities and planned exploration programmes. For more information visit www.mithrilresouces.com.au or contact: Graham Ascough Managing Director [email protected]
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ASX:MTH www.mithrilresources.com.au Please note the important disclaimer and competent person’s statement at the end of this presentation
HIGHLIGHTS
Exploration underway on recent IOCG discoveries in the NT
Basil Inferred Resource of [email protected]%Cu, 0.05%Co within [email protected]%Cu, 0.03%Co
Strong pipeline of new targets to be drill tested in 2012
Strong Cash Position (~$6.4M)
Highly Experienced Technical and Management Team
Bigglesworth IOCG discovery gossan 28th November 2011
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Mithril Resources Ltd – Summary
Capital Structure
Shares on Issue (ASX:MTH) 219.6M
Unlisted Options 24.1M
Cash (31 March 2012) $6.4M
Market Capitalisation $9.0M
Enterprise Value $1.6M
Directors
John Roberts (Chairman, Non-executive Director)
Graham Ascough (Managing Director)
David Hutton (Incoming Managing Director)
Derek Carter (Non-executive Director)
Richard Bonython (Non-Executive Director)
Donald Stephens (Non-Executive Director/Company Secretary)
Huckitta
East Pilbara
Sandstone
West Pilbara
Yambah
Junction
East Duketon
Alice Springs
Investments
Musgrave Minerals (ASX:MGV) 9.28M shares
MGV Options 2.5M
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Huckitta Project Main Prospects and Mineral Occurrences
Assay values are from surface rockchips
25 km
Mithril 100%
Treasure JV (MTH earning 80%)
Harts Range JV (MTH 60%, OKU 40%)
Sammy JV (MTH earning 80%)
Plenty Highway
ALICE SPRINGS
Blackadder
3 .8%Ni, 9.6%Cu
Austin Iron
Oxide Copper
Gold Prospect
Baldrick
2.3%Ni, 2.4%Cu
Tibbs
13.9g/t Au, 0.7%W
Basil Copper Trend (>10km)
Up to 6.3% Cu at surface
Yoda
15.4g/tAu, 0.4%Cu
Significant Mineral Prospect
Polly Copper Trend 2.5km)
Up to 8.4% Cu at surface
Manuel Copper
8.6%Cu, 0.18gpt Au
Bigglesworth
Iron Oxide Copper
Gold Prospect
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Huckitta Project – Mithril Planned Work
25 km
Austin
Basil
Mithril 100%
Treasure JV (MTH earning 80%)
Harts Range JV (MTH 60%, OKU 40%)
Sammy JV (MTH earning 80%)
Significant Mineral Prospect
Bigglesworth
2012 Regional Drill Target
Illogwa IOCG
Target Area
Exploration underway and will focus on the Illogwa IOCG target area
Illogwa is a potential new IOCG province with alteration mapped over an area 40kmx20km
Drilling to commence in May on the Illogwa targets
Drilling planned (RC) for Regional targets identified during 2011 campaign
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1000m
Rotten Hill Mineralised Zone
Peaks Mineralised Zone
Wedge Mineralised Zone
Flats / Gravity Mineralised Zone
Cu/Co Mineralised Zone
All Drillholes
LB078DD [email protected]%Cu and [email protected]%Cu
LB067DD [email protected]%Cu
LB077DD [email protected]%Cu
LB080DD LB079DD
LB070DD
LB069DD
LB072DD LB063DD LB052DD LB061DD LB051DD LB060DD
LB055DD
LB062DD LB059DD
LB056DD LB054DD
LB053DD
LB046DD
LB045DD
LB076DD
LB049DD
LB050DD
LB057DD
LB058DD
LB047DD
LB048DD
LB035DD [email protected]%Cu, 0.06%Co
LB012RC [email protected]%Cu, 0.04%Co
LB025DD [email protected]%Cu, 0.06%Co
LB027DD [email protected]%Cu, 0.07%Co
Basil Mineralised Trend
Huckitta: Basil Copper Prospect (South) Broad intervals of semi-massive sulphides
LB085DD
LB084DD LB082DD
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Rotten Hill / Peaks Inferred Resource
3km
Rotten Hill Zone Peaks Zone
• Resource estimated for 3km long, most intensely drilled portion of the 10km long Basil mineralised trend
Estimated Extrapolated
- 0m RL
-250m RL
-500m RL
JORC Category
Cut off
grade Tonnes
(MT) % Cu Co ppm S% Fe%
Inferred 0.3 26.5 0.57 504 11.3 25.4
Inferred 0.1 90.0 0.28 309 6.3 19.1
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Illogwa IOCG Target Area (30km south of Basil) - Residual Gravity
Austin Prospect
Copper mineralisation
at surface in hematite
veining
Powers Prospect
Intensely altered
granite with hematite-
fluorite veining
Bigglesworth Prospect
Copper / Gold
mineralisation at surface
in hematite veining
New copper/gold prospects identified on Southern Portion of Huckitta
Widespread copper mineralisation and hematite-alteration that is consistent with IOCG system
Gravity survey has identified large dense bodies adjacent to copper/gold mineralisation, consistent with IOCG signature
Multiple drill targets identified for testing in 2012
EL28335 100%MTH
EL25643 80%MTH
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Illogwa IOCG Target Area (30km south of Basil) - Magnetics
EL25653
EL25643
EL28335
Austin Prospect
Cu-Au mineralisation in
hematite-silica veins in
altered granite
Powers Prospect
Intensely altered granite
with hematite-fluorite
veining
El Gordo Prospect
Cu bearing hematite-
silica veins 800m in
altered granite
Bigglesworth Prospect
Cu-Au mineralisation in
hematite-silica veins
and altered granite
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Copper mineralisation at the Austin Prospect
Outcropping ridge of hematite
veining in altered granites
(looking east)
Malachite (copper)
mineralisation (green)
in hematite vein
Altered granite
Hematite-silica veins
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Illogwa IOCG - Austin Prospect Area Magnetic Image and Gravity Contours
Altered Granite
Intense hematite and silica alteration
IP Anomaly
Copper Mineralisation
Intense hematite and silica alteration
Austin Prospect
Powers Prospect
Rockchips up to 4.5%Cu and .25 g/tAu
MINERALISED STRUCTURES
1.5 mGal Gravity Contour
B A IP Line 1 - Inversion Model
300m
DRILL TARGETS
A
B
Copper Mineralisation at surface
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Copper mineralisation at the Bigglesworth Prospect (Looking SE)
Mineralised horizons continue under cover to southeast
Intense silica hematite alteration 3-5m thick in granite with common copper mineralisation (malachite and chalcopyrite)
Large gravity anomaly under thin cover – source unknown
Mapped mineralisation 500m to SE
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Bigglesworth Prospect – looking west 1
20
m
Altered granites Altered granites
Multiple cross cutting IOCG alteration events
Copper rich veins in granite
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Copper mineralisation at the El Gordo Prospect (Looking SW)
Shear hosted hematite-silica alteration +/-
copper mineralisation mapped over 800m
Altered granites with fluorite veining
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Mithril and MMG enter Agreement to accelerate nickel exploration at Huckitta
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 Resource.
Mithril retains the rights to all other metals.
Agreement does not include the existing JV’s where Mithril can continue to explore for nickel.
MMG owned by Minmetals Resources Limited (HKSE 1208), an international upstream base metals company. It is one of the world's largest producers of zinc as well as a substantial producer of copper, lead, gold and silver.
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Huckitta and Yambah Projects on regional Magnetics with key prospects
Yoda
Tibbs
Basil
Bigglesworth
Austin
Rankins
Harry Creek
Coles Hill
Geko
Turners
Blackadder/Baldrick
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Yambah Project, NT
Wholly owned tenements well located along Stuart Hwy and Ghan Railway
Prospective for base metal mineralisation (VMS)
Multiple mineral occurrences, up to [email protected]%Zn in shallow drilling
Alice Springs
Base Metal Mineral Occurrence/Prospect
10km
1.6%Cu in rockchips
[email protected]% Zn from 131m
Harry Creek Prospect 4m@2%Zn from 39m
Geko Prospect 19%Cu, 0.26g/tAu, 25g/tAg in grab samples
Rankins Prospect 3.6%Cu, 0.1g/tAu in rockchips
New mineralised horizon
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East Pilbara Tenement Locations
50km
CATTLE WELL
CAMEL WELL
Port Hedland
Marble Bar
CUTTING CREEK
Goldsworthy (BHP) Shay Gap
(Jupiter)
Pardoo (Atlas)
Poondana (Polaris)
Turner River (Atlas)
Wodgina (Atlas)
Abydos (Atlas)
Mt Webber (Giralia) Coongan
(BC Iron)
Six wholly owned tenements totalling 701km2
Prospective for nickel, copper, iron ore & gold High Priority VTEM conductors associated with nickel and copper mineral occurrences - consistent with the response from significant accumulations of nickel and copper sulphide mineralisation July 2011 - new copper bearing gossan identified with a strike length of over 2km (TALGA EAST) Heritage Surveys in progress
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East Pilbara - Cattle Well Targets Drilling in 2012
Mapped Ultramafic
E45/3457
E45/3680
GORGE PROSPECT • Cu-Ni mineralisation at surface • Rockchips to 27%Cu, 0.4%Ni • Chalcopyrite at surface
Coincident VTEM , magnetic anomalies and nickel sulphide prospective ultramafic rocks over 10km
TALGA EAST New gossan identified 2km long and coincident with discrete VTEM anomaly. Rockchips to 0.48%Cu, 0.31g/t Au and 22.7g/tAg
5km
CATTLE WELL
Port Hedland
CAMEL WELL
CUTTING CREEK
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The Project Pipeline Planned activity on the main prospects
Project/Prospect Target The next 6 months
Huckitta – Illogwa IOCG Bigglesworth, Austin, El Gordo
Widespread IOCG alteration and copper mineralisation
Mapping and Drilling
Huckitta – Basil (Cu-Co) 10km long copper trend, broad intersections of copper – Inferred Resource defined
Drilling targets along the 10km long mineralised trend
Huckitta – Yoda (Au) Gold in surface samples to 21.5g/t Drill ready for Q2 2012
Huckitta – Lizzie Ck (Cu-Co) VTEM targets in same setting as Basil Mapping and geophysics to advance target to drill stage 2012
Huckitta – Gertrude (Ni-PGE) Drill ready nickel target Part of the MMG JV
Yambah, NT (Cu-Pb-Zn) Numerous base metal occurrences incl historic intercept of 6m @ 6.5% Zn
Geophysics and mapping to advance targets to drill stage in 2012
East Pilbara (Ni-Cu) Surface mineralisation with strong geophysical response
Drilling to commence in May 2012
West Pilbara (Ni-Cu) Nickel copper mineralisation in historical drilling
Ground geophysics and mapping
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Mithril Resources Limited - Summary
STRONG PROJECT PORTFOLIO
Huckitta, NT
Large resource on the Basil trend demonstrates that areas potential for large near surface deposits
Widespread IOCG alteration discovered with outcropping copper mineralisation at three new prospects
Regional program continues to identify new drill targets
Nickel only joint venture with MMG to accelerate exploration efforts
East Pilbara, WA
New mineralisation, drill ready targets
EXPERIENCED MANAGEMENT & EXPLORATION TEAM
STRONG CASH POSITION
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Competent Person’s Statement The information in this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr G Ascough, who is a full-time employee of the Company and a Member of the Australasian Institute of Mining and Metallurgy. Mr G Ascough has more than five years experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr G Ascough consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
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 to believe that it is not accurate, reliable or complete, it has not been independently audited or verified by Mithril. Any forward-looking statements included in this document involve subjective judgement and analysis and are subject to uncertainties, risks and contingencies, many of which are outside the control of, and may be unknown to, Mithril. In particular, they speak only as of the date of this document, they assume the success of Mithril’s strategies, and they are subject to significant regulatory, business, competitive and economic uncertainties and risks. Actual future events may vary materially from the forward-looking statements and the assumptions on which the forward-looking statements are based. Recipients of this document (Recipients) are cautioned to not place undue reliance on such forward-looking statements. Mithril makes no representation or warranty as to the accuracy, reliability or completeness of information in this document and does not take responsibility for updating any information or correcting any error or omission which may become apparent after this document has been issued. To the extent permitted by law, Mithril and its officers, employees, related bodies corporate and agents (Agents) disclaim all liability, direct, indirect or consequential (and whether or not arising out of the negligence, default or lack of care of Mithril and/or any of its Agents) for any loss or damage suffered by a Recipient or other persons arising out of, or in connection with, any use or reliance on this presentation or information. All amounts in A$ unless stated otherwise.
IMPORTANT NOTICES F
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