Relinquishment report for EL 26019 Mitchiebo for the period 5 December 2007 to 4 November 2010

Abstract

The tenement is 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 periods late November to early December 2009 and September 2010, four (4) reverse circulation drillholes were completed for a total of 185 metres within EL 26019. The drillholes were completed as part a broad spaced reconnaissance pattern throughout Mantles tenements adjacent to accessible station tracks. All drill samples from the first program were analysed on-site using a handheld Field Portable X-Ray Fluorescence (FPXRF) instrument for a total 149 sample analyses and 5 Quality Assurance (QA) checks. The instrument was a hire unit from Portable Analytical Solutions and had been calibrated to include Phosphorous to a lower detection limit of approximately 0.5% P. During the second phase of drilling the initial FPXRF screening step was omitted and all 1-metre drill samples were submitted for laboratory analysis. In total, 64 samples (individual and composite) were laboratory analysed. 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 the relinquished areas of EL 26019.