Annual Report on EL 4736 Cosmo, for the year ending 30-6-1988

Abstract

EL 4736 is located approximately 45 kilometres southeast of

Adelaide River. The EL surrounds the Cosmopolitan Howley

Gold Mine. Northern Gold commenced hardrock exploration in the EL in March 1988. Extensive soil sampling programmes comprised of orientation traverses, regional stream sediment sampling and detailed grid sampling were undertaken. In addition 12 reverse circulation drill holes were completed on the licence area for a total of ll74m. Other work included mapping and prospecting, surveying and aerial geophysics. Northern Gold's expenditure on EL 4736 for the 12 months to 30 June 1988 was $171,410. The planned work programme for the following 12 months of tenure includes appraisal of results to date, additional geochemical soil sampling, completion of geological mapping and further reverse circulation drilling. Estimated expenditure for this work is $117,000. Planned work under the Northern Gold-Metana joint venture agreement on alluvial gold mining includes mining of two bulk sample pits at an estimated cost of $160,000.