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Discovery of the Illogwa IOCG BeltMithril opens new exploration spacein the east Arunta Region
Patrick LyonsSenior Geologist19 March 2013
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Disclaimer
This presentation has been prepared by Mithril Resources Limited (Mithril). The information contained in this presentation is a professional opinion onlyand is given in good faith. Certain information in this document has been derived from third parties and though Mithril has no reason to believe that it isnot accurate, reliable or complete, it has not been independently audited or verified by Mithril.
Any forward-looking statements included in this document involve subjective judgement and analysis and are subject to uncertainties, risks andcontingencies, many of which are outside the control of, and may be unknown to, Mithril. In particular, they speak only as of the date of this document,they assume the success of Mithril’s strategies, and they are subject to significant regulatory, business, competitive and economic uncertainties andrisks. Actual future events may vary materially from the forward-looking statements and the assumptions on which the forward-looking statements arebased. Recipients of this document (Recipients) are cautioned to not place undue reliance on such forward-looking statements.
Mithril makes no representation or warranty as to the accuracy, reliability or completeness of information in this document and does not takeresponsibility for updating any information or correcting any error or omission which may become apparent after this document has been issued.
To the extent permitted by law, Mithril and its officers, employees, related bodies corporate and agents (Agents) disclaim all liability, direct, indirect orconsequential (and whether or not arising out of the negligence, default or lack of care of Mithril and/or any of its Agents) for any loss or damagesuffered by a Recipient or other persons arising out of, or in connection with, any use or reliance on this presentation or information.
All amounts in A$ unless stated otherwise.
The information in this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr DavidHutton, who is a full-time employee of the Company and a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Hutton has more than fiveyears experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking toqualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and OreReserves”.
Mr Hutton consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Competent Persons Statement
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Who we are
DUAL EXPLORATION STRATEGY
East Arunta - outstanding copper discovery potential
Multiple priority targets including Illogwa IOCG belt
Geophysics and drilling planned for June Qtr 2013
West Kambalda – new gold resource?
High grade drill intercepts at Spargo’s Reward Gold Mine
• 14m @ 6.75g/t gold incl. 6m @ 12.67g/t• 11m @ 3.54g/t gold incl. 2m @ 13.67g/t
Currently Drilling
Mithril Resources Ltd is an Australian resources companyexploring for copper and gold in central and Western Australia
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East Arunta Project Area
Local Endowment
Moly Hill Deposit4.7Mt @ 0.22%Mo, 0.28%W
Basil Copper Deposit26.5Mt @ 0.57%Cu, 0.05%Co
Jervois Deposit11.9Mt @ 1.3%Cu, 25.2g/tAg
Greenfields discovery opportunity within a rapidly emerging mineral province
Home of Bullion
Home of Bullion (KDR) 36m @ 2.78% Cu, incl 10m @ 8.5% Cu
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East Arunta Project Area Landholdings
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East Arunta Project Area Landholdings
ILLOGWA IOCG AREA
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Illogwa IOCG Area Geology and Prospects
Plenty Highway
NTGS identifies hematite-fluorite altered granite at Powers Prospect (2010)
Mithril completes gravity and surface geochemistry sampling
Mithril identifies multiple outcropping occurrences of copper +- gold mineralisation consistent with IOCG style alteration
Bigglesworth
Dixie Austin
Powers
Nigel
El Gordo
Mini MeGoldmember
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Illogwa IOCG Area Geology and Prospects
Plenty Highway
NTGS Identifies Hematite –Fluorite altered granite at Powers Prospect (2010)
Mithril completes gravity and surface geochemistry sampling
Mithril identifies multiple outcropping occurrences of copper +- gold mineralisation consistent with IOCG style alteration
Bigglesworth
Dixie Austin
Powers
Nigel
El Gordo
Mini MeGoldmember
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Fluorite Hematite
Hematite veins in altered granite
Altered granite
Hematite-silica veins
Fluoriteveins
Hematite and fluorite Powers Prospect
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Austin Prospect
• Discovered by follow-up of anomalous soil sample• Alteration and / or mineralisation exposed over 2km
of strike
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Mineralisation Austin Prospect
Carbonate veining
Copper mineralisationin intensely hematite altered granite
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Bigglesworth Prospect Looking west
120m
Altered granite
Altered granite
Multiple cross cutting IOCG alteration events
Copper rich veins in granite
• Discovered by geological mapping• Significant outcropping hill of alteration
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Copper mineralisation atBigglesworth Prospect Looking SE
Mineralised horizons continue under cover to southeast
Large gravity anomaly under thin cover – source unknown
Mapped mineralisation 500m to SE
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El Gordo Prospect
Rediscovered by tracking gossanous fragments upstream (evidence of old unrecorded workings) Mineralisation and / or alteration (dominantly silica) mapped over 800m
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Mini Me Prospect Outcropping copper
(Looking East)
Discovered by geological mapping
Up to 7.8% copper, 1.5g/t gold from outcropping veins of chalcopyrite (copper sulfide) mineralisation within a broad silica-hematite alteration zone
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Mineralisation structurally controlled
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Deep crustal seismic Line 09GA-GA1
Illogwa IOCG Belt, on mantle-tapping structures
Huston et al., 2011
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Time to drill
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IOCG mineralisation in first drill program Austin Prospect Hole APPDD002
5 cm
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Mini Me Copper Prospect IP Drill Target
RTP magnetic image
>10x background chargeability anomaly, 800m long
secondary and primary copper mineralisation at surface
outcrop poor
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Summary
•NTGS find hematite- and flourite-alteration on Mithril lease
•Follow-up work discovered copper occurrences over 50 km of strike
•Alteration patterns consistent with IOCG•Region under-explored and never drilled•Drilling confirms IOCG mineralisation• In a belt with large footprint•At surface (unlike Cloncurry and Olympic Provinces)•Walk-up drill targets!
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A bigger picture …
Other known and emerging IOCG provinces in Australia with active exploration include … a … new IOCG province in the Arunta region of central Australia.
In [this] area, encouraging indicators have recently been discovered within a belt extending hundreds of kilometres along the major crustal boundary between
the Aileron and Warumpi provinces.
Australia's iron oxide Cu-Au provinces: World-class opportunities
Roger Skirrow, Geoscience Australia, PDAC 2013 presentation
