Annual technical report for EL 23628 Andrew Young Project, for the period 9 April 2004 to 8 April 2005

Abstract

This annual report describes all work carried out by Joint Venturers BHP Billiton and Mithril Resources on EL 23628, Andrew Young Project, during the second year of tenure ended 6th April 2005. Exploration work on the tenement is aimed at discovering Proterozoic ultramafic-related Ni-Cu mineralisation. Much of the area of EL 23628 covers outcropping hills of the Andrew Young Group, the target stratigraphy for nickel mineralization. Mithril have been requested not to undertake any work in the vicinity of the hills due to the areas being culturally sensitive. Consequently work in the second year of tenure has focussed on reviewing results from work on adjacent leases with respect to the prospectivity of EL 23628. Gravity surveys have identified potential targets on adjoining leases and may be suitable for generating drillable targets on EL 23628. The lease was reduced by 50% at the end of the second year of tenure.