Combined final report for EL 22615 'Mount Hay' and EL 22616 'Mount Chapple', for the year ended 16th December 2003

Abstract

This Combined Final Report summarises work carried out by BHP Billiton Minerals Pty Ltd (BHPB) and Mithril Resources Ltd (Mithril) on Exploration Licences 22615 and 22616, Mount Chapple Project, Northern Territory for the period ended 16 December 2003. In 2002, BHPB and Mithril formed an alliance to undertake Ni exploration in Australia. A JV was entered into over the Mount Chapple Project when Mithril successfully listed on the Australian Stock Exchange in November 2002. Mithril subsequently reviewed the project and withdrew from the Joint Venture. BHPB also reviewed the project and decided to surrender both tenements in December 2003. Exploration work was aimed at discovering polymetallic Ni-Cu magmatic sulphide mineralisation of Voiseys Bay, Norilis'k affinities, associated with Proterozoic stratigraphy under thin Cainozoic cover. Work completed consisted of a review of the previous exploration data. Access negotiations with the Central Land Council were in progress at the time of surrender, and no groundwork was completed.