why are expectations high for haunted stream?, page-2

Good question AussieCaveman, I'm not sure how many others have read back over the areas history (Haunted Stream), but there is some good reading to be found in the independent geologist report included in the original prospectus and also some gold field notes available on the heritage Victoria website.

I'm no geologist, so can't analyse the raw data, however Mantle has now had a couple of years with Haunted Stream to collect rock chip samples, perform some drilling and map their current target. I would be disappointed with results that did not outshine July 2008.

I don't think lack of visible Gold in the sample should be of great concern, I monitor quite a few Gold stocks and have only seen visible Gold announcements on a rare couple.

My excitement also stems from the time of year that these results are going to be released. We're closing in on record highs for Gold and if you recall last year when we were seeing a similar strong rise in price, many Gold companies that released positive drill results over this time had a rocket put under their share price.

I hope we aren't disappointed with the results, however even without the Haunted Stream project MNM deserves to be multiple of it's current market cap.

I'm hoping Haunted Stream just highlights MNM to others who may not have been aware of their prospects.

I have summarised some information below (specifically relating to Haunted Stream) including old gold field notes and some highlights from the prospectus and previous announcements.



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Section 1: Highlights From Heritage Victoria
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HAUNTED STREAM GOLDFIELD NOTES
March 1884: Ernestine Co. - 'I am informed on reliable authority' that 1,281 tons from their mine yielded 320 oz (approx 7.75g/t)
December 1884: Hans Co. - 460 tons yielded 200 oz gold. Rob Roy Co. had trial crushing at Ernestine battery - 40 tons yielded 169 oz (13.5g/t & 131.4g/t)
June 1885: Hans Co. employing 30 men - 750 tons crushed for 216 oz. Rob Roy Co. tunnel in about 120 ft - about 140 tons yielded 560 oz (8.95g/t & 124.4 g/t)
More examples in the notes.

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Section 2: Highlights From Prospectus
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From original prospectus (2006):

Victoria Haunted Stream
On the basis of previous mining, Haunted Stream is considered a highly attractive exploration area. The previous mining and recent rock chip sampling indicate that the potential for success is high. Rock chip results are presented in Figure 6 in the Independent Geologists Report, with six showing values in >16g/t Au and a further 12 showing values > 5g/t Au.

Independent Geologists Report:

Haunted Stream Project - EL 3576 (including Mt Baldhead ELA 4784 and Mt Nugong ELA 4785)

Geology and Mineralisation
The Haunted Stream fault system contains numerous historical small-tonnage high-grade mines collectively referred to as the Haunted Stream Gold Field. The field is located in the Tabberabberan structural zone of eastern Victoria just SW of the shear contact with the Wagga- Omeo Metamorphic Belt. Mineralisation in the north westerly portion of the tenement is hosted within folded Ordovician
sediments consisting of siltstones, greywackes, shales and mudstones. The units are intruded by Silurian granites, believed to be the source of the mineralising fluids. Gold is hosted in quartz veins in steeply dipping shear zones within associated black shales.

Southeast of the old township of Stirling and adjacent to the Haunted Stream Fault lie the historic Ernestine workings, which were mined as narrow high-grade reefs in sediments with minor dyke intrusions with a quartz stockwork block (The Quarry) mined over 30 metres width between two narrow
high grade reefs.

The Rob Roy line of workings was mined between 1880 and the early 1900s. The line of reef underlies the Haunted Stream and was mined as several high-grade underground shoots. Historic records from the Rob Roy Mine show that it was located on intersecting faults with mine widths of 3 to 6 metres. R. A. F. Murray 1887, Government Geology Surveyor, stated the following From the Rob Roy workings, 614 tons yielded, according to battery returns supplied to me, 794oz 17dwt., or an average of over 1.25oz per ton (38.9 grams per tonne gold). At the Oversight Workings, 162 tons of stone taken at or below the creek level yielded an average of 2oz 13.5dwt per ton (82.4grams per tonne gold), indicating an increase in grade with depth. Limited additional data is available but there is evidence that the ore was sulphidic and difficult to treat. This mine was viable because the ore was very high grade. The reported good stope widths and high gold grades make this a prospect worthy of detailed assessment and drill testing.

Previous Exploration
Historical research within the Department of Mines has highlighted the significance of the Haunted Stream Gold field as a potentially dominant gold camp. The historical mining and the recent rock chip results confirm this premise. P. Rolley (1982) estimated the quartz stockwork zone striking northeast, as a remnant of the Quarry lode, to contain a mineral inventory of 220,000 tons at 4.15dwts per ton (6.43grams per tonne gold). Insufficient supporting data are available and Ravensgate is therefore not in a position to verify this estimate. In addition the estimate predates the standards and guidelines as laid out in the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC code, 2004) and is included here only to indicate the potential of the prospect.

Opinion
The Haunted Stream Project provides Mantle with previously defined high grade gold workings as a focal point for exploration initiatives. Historical mining camps such as the Oversight Workings, with a sample grade up to 82.4grams per tonne gold, demonstrate that the quartz vein systems can be both extensive and significant in terms of grade. Previous exploration appears to be limited, yet historical workings are numerous.

At the Dogtown Mine the wide stockwork zones may be considered as a target with potential for developing a large tonnage resource. The Project therefore can provide both smaller tonnage high grade opportunities as well as lower grade bulk tonnage opportunities.

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Section 3: Highlights From Other Announcements Since Listing
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Announcement - 27th March 2007
Results from this rock chip sampling. Haunted Stream (EL3576) 8 samples:
444.8 g/t Au
0.2 g/t Au
1.83 g/t Au
45.5 g/t Au
2.06 g/t Au
1.33 g/t Au
0.005 g/t Au
27.2 g/t Au

Announcement - 3rd October 2007
Haunted Stream - Assays from 63 rock chip samples from surface lines and historic workings at Mantles Haunted Stream tenement in Victoria have been received. They include 37 samples with anomalously high gold (and As) values including six (6) with values >10g/t Au (and up to 54g/t Au).

Announcement - 17 July 2008
Recent Haunted Stream Diamond Drilling Results
Assay results from a recent small exploration diamond drill program, at the Haunted Stream Prospect in eastern Victoria, comprising twelve NQ diamond drill holes totalling 753.6 metres have been received. Holes are up to eight kilometres apart and usually dip at 50 to 55 degrees. All twelve holes were very shallow - less than 100 metres.

Significant Intersections from Recent Diamond Drilling
Hole Number - From(m) - To(m) - Interval(m) - Au grade(g/t)
HSD5-------------12.2-------------13-------------0.8-------------4.43
HSD6-------------32.9-------------34.1-------------1.2-------------8.96
HSD7-------------36.3-------------40.3-------------4.0-------------1.29
HSD7-------------56.1-------------58.4-------------2.3-------------2.09
HSD8-------------43.4-------------48.9-------------5.5-------------0.92
HSD8-------------55.5-------------58.0-------------2.5-------------1.13
HSD8-------------70.4-------------71.6-------------1.2-------------3.10
HSD8-------------77.8-------------79.2-------------1.4-------------1.75
HSD9-------------26.5-------------27.6-------------1.1-------------1.32
HSD9-------------64.0-------------65.4-------------1.4-------------1.00
HSD10-------------6.0-------------9.7-------------3.7-------------1.76
HSD11-------------20.8-------------23.0-------------2.2------------- 1.51

Announcement - 24 July 2009
Deep Drill Hole Designed to Test Substantial Magnetic Target Central to Historic Haunted Stream Goldfield. Highlights:
- Major anomaly re-defined from recent exploration,
- Geographically central to historic gold field,
- Deep hole planned to test large scale deeper target.

The 2008 bushfires uncovered well over 200 previously unknown historic workings with a number of mines of reasonable scale. Mantles recent test drilling, the first modern drilling and only known drilling within the goldfield, has confirmed the underground extent of several of the biggest of these mines is far greater than originally thought. Based on geophysical interpretation of the Victorian Departments broad spaced magnetics survey (VIMP), Mantle previously targeted Anomaly 4 with drill hole HSRC6, which was drilled at a relatively shallow angle to 175 metres. However it failed to intercept the highly magnetic anomaly.

In order to re-define the boundaries and the intensity of the magnetic anomalies, and to determine why the first drill hole had failed to intersect the magnetic anomaly, Mantle recently undertook a close spaced ground magnetics survey over the southern magnetic anomaly (Anomaly 4). The exciting results from this recent programme re-confirm Anomaly 4 as a high priority drill target with potential to contain a large bulk tonnage mineralised system which historically may have acted as a feeder system to the myriad of local high grade workings (note that ground magnetics have not been done over the northern magnetic bullseye yet).

Announcement - 11 December 2009
Mantle Processes Ground Magnetics at Haunted Stream Gold Mantle Mining Corporation Limited (ASX: MNM), is pleased to report that processing of data from an infill ground based magnetic survey over Anomaly 4 and an initial survey over Anomaly 3 at the Companys Haunted Stream Gold Project has been completed, with encouraging results, and follow-up drilling is now planned to proceed, beginning with Anomaly 4.

The data has been sent to the Companys consultant geophysicist for modeling and specific drill target generation. Highlights:
- Anomaly 4 shows a relative magnetic low (centre) with concentric magnetic high (rim),
- Anomaly 3 shows a distinct magnetic high with possible cross-cutting vertical structures,
- Both considered prospective for high grade Gold feeder and/or large lower grade disseminated Copper/Gold systems

Announcement - 27 April 2010
Mantle Commences Drilling at Haunted Stream Gold. Mantle Mining Corporation Limited (ASX: MNM), is pleased to advise that drilling has begun at the Companys 100% owned Haunted Stream Gold project in Eastern Victoria. Highlights:
- promising ground magnetics survey anomalies,
- coincident with major structural (fault) projections,
- underlying historically high-grade gold mines,
- central to a 12km gold anomalous corridor, and
- closely located to the regional Haunted Stream fault.

Announcement - 2 July 2010
Mantle Intersects Multiple Shear Zones with Visible Base Metals. Mantle Mining Corporation Limited (ASX: MNM), is pleased to advise completion of a drilling program at its Haunted Stream Gold project. Highlights:
- Mantle is exploring for broad zones of disseminated sulphides or large stock-works containing gold and/or copper mineralization with potential for bulk mining and extended mine life.
- The program of two diamond drillholes targeted the first of two promising magnetic anomalies both coincident with a dioritic intrusive and major fault projections central to a 12km gold anomalous corridor containing a number of historically high grade gold mines.
- Hole HSD12 terminated at 427m after passing through a number of highly altered zones proximal to the contact between the intrusive and the sedimentary host rocks. HSD13 terminated at 141m in a targeted fault zone.
- In HSD12 multiple zones of base metal anomalous shearing have been intersected, with significant widths from 192m and 344m. A major zone of shearing and alteration occurs at the intrusive contact at 369m and persists intermittently through the sediments from 372m to 410m.
- Recognized alteration associations include quartz/carbonate/sericite with pyrite and chalcopyrite within the intrusive, and quartz/chlorite/pyrrhotite with chalcopyrite, galena and sphalerite in the contact aureole.
- Visible gold has, as yet, not been confirmed however the alteration assemblages are significant as indicators of potential gold mineralization. Logging, sampling and analysis of the core are underway.