Treasure Project EL 23546 Annual technical report 5 February 2014 to 4 February 2015

Abstract

During 2013 MMG sponsored a Monash University Honours Project which involved the re-assay of stored laboratory pulp samples previously collected by Mithril Resources across the broader Harts Range area. The purpose of this study was to lithogeochemically characterise mafic-ultramafic rocks in the region. At the time Mithril Resources were the Operator of the Treasure JV and with their permission MMG gained access to these pulps for this study. From within the Treasure EL nine pulp samples were re-assayed. During 2014 rock chip samples were collected for remnant magnetism studies. The results confirm that the Baldrick intrusion is negatively remanently magnetised. These results were then used to identify possible analogues within the tenement; however, the results were not encouraging. Although MMG planned additional work to 'follow up interesting magnetic features identified' in 2013-2014, they withdrew from the JV in October 2014. MMG considered the anomalies represented small targets only, not in line with their criteria for large deposits (> 20,000,000 tonneage). From the period November 2014 to February 2015, Iron Mountain Mining Ltd carried out a detailed review of all previous exploration datasets. This was to plan for a 5-6 hole RC drilling programme in 2015 over targets identified.