EL 26942 Leaky Bore Year 4 Annual Report for the period 5 August 2012 to 4 August 2013

Abstract

Work completed during the fourth year of tenure on the Leaky Bore Tenement (EL 26942) focussed on reassessing the tenement to host nickel sulphides by Mithrils Joint Venture partner - MMG Exploration Ltd. Field work completed during the period included; Helicopter assisted stream sediment sampling - 76 samples; Re-assay of pulps - 54 samples; and Review of all Mithrils historic data by MMG. Unfortunately, the surface geochemical survey failed to identify any areas of coincident Ni-Cu-PGE anomalism. Some samples returned anomalous values of Ni, Cu and Co individually and occur close to a large, regionally extensive outcropping amphibolite - which is interpreted to be the source of the anomalism. The anomalies are scheduled for follow-up but are ranked as a low priority. The heavy mineral concentrate of selected samples showing chalcophile element anomalism (e.g. either elevated Ni or Cu) was picked for PGE and sulphide grains. None of the samples showed any signs of PGE or sulphide grains, consistent with their fine fraction results.