Annual technical report for EL 10117 'Mt Doreen K' Andrew Young Project, for the period 29 August 2004 to 28 August 2005

Abstract

This annual report describes all work carried out by Joint Venturers BHP Billiton and Mithril Resources on EL 10117, Mount Doreen K, Andrew Young Project during the annual period ended 29th August 2005. Exploration work on the tenement is aimed at discovering Proterozoic ultramafic-related Ni-Cu mineralisation in the Arunta Province and exploration of the licence area is conducted in conjunction with the surrounding EL's 9695, 22909, 22910, 23627 & 23628. Six air core holes (totalling 582 m) were drilled to test features interpreted from magnetic surveys. The basement from the 'Newhaven Complex' in EL 10117 was shown to comprise 2-pyroxene microdioirite, hornblende-biotite diorite and syenogranite. No mafic or ultramafic rock types and no signs of mineralisation were intersected. It is concluded by Mithril that the magnetic feature of 'Newhaven Complex' does not meet the criteria to justify it's continued exploration. No other magnetic features relating to mafic rocks occur within EL10117 and hence Mithril Resources have surrendered their interest in the licence.