Mt Ringwood Joint Venture Annual Report year ending 25-3-89.

Abstract

EL 5319 (Ringwood South) was granted to W.R. Grace (Australia) Limited on 26 March 1987. The area was previously held by Grace under different ELs. Western Mining Corporation Limited act as managers and operators of the EL, as part of the Mount Ringwood Joint Venture. Exploration activities continued on the 6200N, 8300N, Paqualin Line, Howley, Bons Rush, Koolpin Target, Fl7, F16, Quest 150 and Quest Far South prospects during the year under report. This involved 22 diamond drill holes for 919m precollars and 2,627.6m coring, 3 water bores for 166m percussion, 51 RC/percussion holes for 3,2l8m RC, 241 shallow percussion holes for 2,397m, 2000 line metres of dipole-dipole IP, 2,500m x 800m blocks of gradient-array IP, 26.4 kms of ground magnetics, one line of sirotem, 1133-80# soil samples and 63 bulk samples of possibly gold bearing alluvial material. EL 5319 encompasses much exposure of the Proterozoic South Alligator Group comprising chemical sediments, phyllites, carbonaceous shales, wackes and volcanogenic cherty mudstones. A grossly concordant mildly fractionated gabbro has intruded the sequence. Gold mineralisation styles which were targeted are diverse - D gold in carbonaceous shales, sulphidic lodes in fractionated gabbro, quartz stockworks in wackes and shales, quartz breccias in anticlinal hinges, fault lodes and bucky conformably vein styles. Exploration on most of the prospects will continue next year. Expenditure on EL 5319 during the reporting period was $ 791,098.