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Company Update
Mantle Mining Corporation Limited (ASX: MNM) “Mantle”, is pleased to provide the following update on the status of its activities:
Bacchus Marsh Coal Project (VIC):
Contains a 1-2Bn tonne brown coal Exploration Target4 (see last page).
? Detailed laboratory results have now been received for the first 4 holes and are being interpreted and prepared for release as soon as interpretations are complete,
? Access agreements for majority of the last 11 holes have been executed and registered,
? The drill rig has been contracted to remobilise during the first half of December,
? Joint Venture Agreements with Exergen Pty Ltd are being actively progressed.
Granite Castle Gold Project (QLD):
Contains a 79k oz Gold and 1.53m oz Silver JORC Resource1 (see last page).
? The drill program has been deferred until after the northern wet season, due to;
? Numerous new shears recently located necessitate positive redesign of the drill program,
? Delayed availability of drill rigs and high probability of early onset of wet season,
? Allows for conservation of cash during current uncertain economic climate.
Trafford (Mt Mulligan) Coal Project (QLD):
Contains a 100-500m tonne black coal Exploration Target3 (see last page).
? Exchange of Amended Statement of Claim and Further Amended Defense is complete,
? Exchanging Lists of Witnesses, Summaries of Evidence and then agree trial documents,
? Positive site visit to Mt Mulligan undertaken with Mantle Board and Traditional Owners.
Other Projects:
? Haunted Stream Gold (VIC): reconnaissance and step-out drill planning on historic mined shears targeting drilling start in first Half 2012, cash and rig availability dependant.
? Charters Towers Gold (QLD): preparing remodel of JORC Resource base to include 52 holes drilled by Mantle (Contains a 125k oz Gold JORC Resource2 - see last page).
? Clarke River Gold (QLD): being surrendered as low priority, allow focus on key projects.
? Texas Coal (QLD): consultant retained for desktop study / and possible drill targeting.
? Latrobe Valley Coal (VIC): contract geologist retained to undertake initial desktop study.
? Barkly Phosphate (NT): drill program deferred until after the northern wet season.