Annual technical report for EL 10092 'Mulga' for the period 24 January 2004 to 23 January 2005

Abstract

Mithril Resources signed a Heads of Agreement with Gempart Pty Ltd in June 2004 allowing Mithril an option to earn an 80% interest in the property. During the reporting period Mithril Resources completed reconnaissance field trip and a magnetic lag surface geochemical survey concentrating on a NW trending structure identified in the magnetics that is under thin colluvium. Results from this geochemical survey have identified a 2km x 8km Ni/Cu/Co anomaly along this NE trending structure and a more discrete Ni/Co anomaly. Further work on these anomalies will include more detailed magnetic lag sampling and anomalies identified from this will be followed up with Ground EM. Should bedrock conductors be detected then RC drilling of these will be recommended.