Final report for EL 10092 and EL 10093 Border Joint Venture

Abstract

Mithril entered into a Heads of Agreement with Gempart Pty Ltd to assess exploration licences 10092 and 10093 for their potential to host nickel sulphide mineralization. Initial reconnaissance geochemical sampling on a 1 kilometre grid identified a large area with elevated nickel and copper values (Anomaly2). Infill sampling on a 500 by 200 metre spacing combined with resubmitting pulps from the original samples for platinum, palladium and gold analysis failed to enhance the anomaly. Investigations from a field visit to the area in August 2005 indicated the mildly anomalous nickel-copper zone is probably reflecting sub cropping lithologies rather than a buried nickel-copper sulphide mineralization. Therefore based on Mithril's exploration results to date no further work is recommended for the Border Project.