Final report on EL 26021 for the period 5 December 2007 to 12 August 2010

Abstract

This report presents details of work completed by Mantle Mining Corporation (Mantle) on EL 26021 during the period of tenure 5 December 2007 to 12 August 2010. The tenement comprised part Mantle's Barkly Project, covering 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. A desktop review of the tenement area was undertaken as part of a regional assessment of Mantle's Barkly Project Area during 2007 and into early 2008. This work provided the basis for a program of field reconnaissance during the 4th quarter of 2008, which did not reveal any obvious signs of mineralisation (P, U, base metals) at any potential sites identified by the desktop studies. No field work was undertaken on the Barkly Project between December 2008 and August 2009 as Mantle undertook steps to conserve resources and confirm funding as a consequence of the Global Financial Crisis. During the period late November to early December 2009, ten (10) reverse circulation drillholes were completed for a total of 601 metres within EL 26021. Drillholes were completed in a broad spaced reconnaissance pattern throughout EL 26021 adjacent to accessible station tracks. All drill samples were analysed on-site using a handheld Field Portable X-Ray Fluorescence (FPXRF) instrument for a total 601 sample analyses and 80 Quality Assurance (QA) checks. A total of 505 1-metre split drill samples were collected and submitted for laboratory testing. The field FPXRF data provided initial indications of significant phosphate mineralisation within EL 26021, however these values were not reproduced in the laboratory data. Follow-up testing demonstrated that elevated calcium values, from calcareous deposits within the stratigraphy, had interfered with the FPXRF response. This was despite the instrument undergoing a complete factory re-calibration prior to use on site. It is acknowledged that elemental interferences are also a recognised issue with x-ray analyses. Note that the original FPXRF Phosphorous data has been included in this report for completeness only and should not be used for any other purpose. The results of this work have indicated that the discovery of a large deposit of phosphate mineralisation was unlikely to be present at shallow depth within EL 26021, and the tenement was recommended for relinquishment.