This is from PepiNini website ----and they own a fraction our...

This is from PepiNini website ----and they own a fraction our landholding in this area

Prospective targets for mineralisation have been identified in all tenements held by PepinNini. Radiometric and gravity data indicate large outcropping or relatively shallow ultrabasic intrusions of the Giles Complex are evident in each of the currently granted tenements and represent priority exploration targets for nickel copper sulphide mineralisation with associated cobalt, gold and platinum group metals. The Giles Complex is considered to be highly prospective for nickel-copper sulphide and platinum group element mineralisation following the discovery of the Nebo-Babel deposit in Western Australia by WMC (392Mt @ 0.3%Ni and 0.33%Cu).

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It was Musgrave's MD who was critical in that Nebo-Babel deposit.

One of MGV's projects is Deering Hills

The Deering Hills Project consists of three wholly-owned tenements - EL5172 Hanging Knoll and EL5173 Mount Hardy (formerly EL3941 & EL3942) and Pallatu tenement EL5317. The project is located in the central region of the Musgrave Province, approximately 200km west of the Stuart Highway and Adelaide to Darwin rail line in far northern South Australia, and covers approximately 992km².

Drilling of initial electromagnetic (EM) geophysical targets intersected sulphide mineralisation at a number of targets in variably textured mafic units interpreted to be Giles Complex - the same host sequence to the Nebo-Babel nickel, copper and platinum group metals (PGM) deposit in the West Musgrave and similar to that seen in analogous styles of mineralisation around the world, including Voisey's Bay Mine in Canada and the new Nova nickel-copper sulphide discovery in the Fraser Range of Western Australia. This is an extremely encouraging result as it validates the Company's exploration approach.

MGV has completed a VTEM survey and regional shallow regolith geochemical vacuum drilling program targeting prospective areas under thin sand cover. The vacuum drilling targets vary in extent from 600m to more than 5,000m in strike length. The largest target 'Minbar', has a strike length of more than 5,000m with peak values of 1,847ppm Ni, 482ppm Cu and 114ppb Pt + Pd in weathered ultramafic Giles Complex lithologies (Figure 1). These values are considered highly anomalous.

Diamond drilling completed in late 2013 intersected massive and disseminated nickel-copper sulphide at the Pallatu target (Figure 2). The Pallatu tenement was granted in August 2013. Musgrave drilled five holes for 504m to test five separate conductive targets identified from airborne VTEM and confirmed by surface EM surveys. Drilling intersected a combination of massive, matrix and disseminated sulphide from all five drill holes from as shallow as 35.7m down hole. Peak assays were up to 0.5% nickel, 0.8% copper and 0.6g/t platinum, palladium and gold over narrow intervals.

Other mineralisation identified on these tenements to date includes:

• The Mt Alvey PGE horizon which has returned grades of up to 14m @ 0.42g/t Pt+Pd (Rio Tinto Exploration Pty Ltd in 2000) and 10m @ 0.70g/t Pt+Pd (Mithril Resources in 2008) in five drill holes over a strike length of 1,500m. This horizon is open in all directions.

• A zone of outcropping vanadium-bearing, titaniferous magnetite over an area of 1700m x 300m on EL5173 discovered by Mithril Resources in 2008. Surface rock-chip samples which assayed up to 0.83% V2O5 and 55.1% Fe were taken on coarse-grained, massive magnetite horizons.

• A rock-chip sample collected by the Department of Primary Industries and Resources of South Australia (PIRSA) during a previous mapping program returned an assay of 9.3% rare earth elements (REE), 1.04% uranium, 0.79% thorium and 29g/t silver from the Mt Hardy area. Field investigation of the area by Mithril Resources confirmed the presence of REE-bearing pegmatite dykes with composite surface rock-chip samples returning up to 2% REE and 0.13% thorium. Follow-up sampling by Musgrave Minerals identified a peak rock-chip result from an individual sample of 4.9% REE (total of 16 REE) from a thin pegmatite vein.