Casey Project EL 25711, EL 25887 50% Reduction Report for the end of Year 2

Abstract

This report summarises the work completed over the relinquished 50% on Exploration Licences 25711, 25887. Work completed on these areas consisted of a gravity survey on 2km x 2km spacing as infill to the 4km x 4km gravity survey completed by the NTGS in 2007. Mithril Resources Activities in the first year included a review of historical exploration and participation in infilling the 4 x 4km gravity data to 1x1km and 2 x 2km over the extent of the exploration licences. The reason for infilling this gravity was to help determine potential mineralised structures and possibly accumulations of mineralisation (primarily copper) associated with the Bitter Springs formation as seen at the nearby Pipeline Copper Prospect. The areas relinquished were viewed as having little or no potential of hosting this stratigraphy. No further work was completed on the relinquished areas of the tenements.