Barkly Project, Annual report for the period 1 May 2009 to 30 April 2010 for EL 27035 Carrara Bore

Abstract

This report presents details of work completed by Mantle Mining Corporation (Mantle) on EL 27035 during the first year of tenure 1 May 2009 to 30 April 2010. The tenement is part of Mantle Mining Corporation's (Mantle's) Barkly Project, which covers portions of the Georgina Basin on the Barkly Tableland considered to be prospective for phosphate mineralisation. Potential also exists for the discovery of deposits of base metals, uranium and potash in these areas. No field work was undertaken on the Barkly Project between May and August 2009 as Mantle undertook steps to conserve resources and confirm funding as a consequence of the Global Financial Crisis. Notwithstanding this slow start to the exploration season, Mantle defined and completed a program of reverse circulation drilling in the Barkly Project Area that included a broad spaced pattern of drillholes across five tenement areas; including 2 drillholes within EL27035. Field reconnaissance using published topographical maps and GPS was undertaken to locate the proposed drillhole locations on the ground and confirm logistical arrangements for the drilling program. This work successfully identified accessible routes to be used throughout the project area. A program of Reverse Circulation (R/C) drilling was undertaken during the period 13 November and 08 December, 2009. During this program two drillholes (BTRC006 and BTRC007) were drilled within EL 27035. All drill samples were analysed on-site using a handheld Niton Field Portable X-Ray Fluorescence (FPXRF) instrument for a total 100 sample analyses. A total of 20 1-metre split drill samples were collected and submitted for laboratory testing. The field FPXRF data provided initial indications of phosphate mineralisation in drillhole BTRC007 with a value of 0.73% P (equivalent to 1.67% P2O5) returned over the interval 33-34m downhole. However this value was not reproduced in the laboratory data and the interval returned a background grade of 0.02% P2O5. These two drillholes were completed near the western margin of EL 27035 and although no significant phosphate mineralisation was intersected a large area of EL 27035 remains untested; especially toward the NE corner closer to the 'Highland Plains' deposit and centrally where magnetic imagery implies that a deep basin and shelf feature may be developed.