Second Annual Report EL 4927 Mt Bundey, year ending 16-06-1988

Abstract

Exploration Licence No 4927 'Mount Bundey' is located 85Km ESE of Darwin, in the Northern Territory, Work by Carpentaria Exploration Company Pty Ltd (CEC) resulted in the discovery of the Tom's Gully gold deposit within EL4927 in the first year of tenure. This report is written to fulfill Government reporting requirements and to provide a record for the company. It deals with exploration work carried out in the second year of the Licence, by CEC and later by Carpentaria Gold Pty Ltd now the titleholder of the EL. It does not cover the extensive drilling, mapping and development work within the granted claims enclosing the Tom's Gully project area or the Mineral Lease (MLN 1058) which now surrounds the above claims. During the second year of EL 4927, the following work was done outside the Tom' s Gully area:

1. A detailed aeromagnetic survey over the whole Licence and over Carpentaria Gold's adjacent EL's 5290 5293 and 5440;

2. A helicopter-borne stream sediment sampling survey, which resampled the whole EL in greater detail than the original survey in 1986;

3. Costeaning of the 'Western Front' gold anomaly north of Mt. Bundey Creek and now within MLN 1058;

4. Ground follow up of several false colour anomalies recorded on Landsat 5 thematic mapper imagery.

At the time of writing this report, no detailed interpretation of the aeromagnetics has been done. The stream sediment results have been partially followed up on the ground. Costeaning showed that the 'Western Front' gold anomalies were caused by odd mineralized rocks in a thick alluvium overlying barren siltstone, and the Landsat false colour anomalies were found to be areas of siliceous rocks such as quartzite bands and areas of the Gerowie Tuff, but not mineralized quartz as hoped. Future work as currently envisaged includes interpretation of the aeromagnetic data, and more checking and following up of the stream geochemistry results. Half the Licence area of 58 km2 has to be relinquished on September 17th, 1988.