Casey Project EL 24646 50 percent Relinquishment Report End Fourth Year of Tenure

Abstract

Mithril Resources implemented the Casey Project to look for Ni-Cu-PGE sulphide mineralisation associated with mafic-ultramafic intrusions in the exposed basement of the Casey Inlier. The prospectivity of the area was demonstrated when the Northern Territory Geological Survey identified some ultramafic intrusions, which yielded moderately elevated abundances of Ni and Cu. This report summarises the work completed on the 50% relinquished portion of Exploration Licence 24646 for the period 16 December 2005 to 15 December 2009. This is the second 50% reduction on the tenement. No field work was completed during the reporting year. This was primarily due to Mithril significantly scaling back field exploration due to the effect of the Global Financial Crisis making it very difficult to raise exploration capital.