Annual report, EL 4450 - Margaret Diggings 1985 - 1986.

Abstract

The Mount Bonnie Gold Unit Trust (MBGUT) optioned E.L 4450 from Mr FS Frith in August 1984. The trust was interested in the area both as a potential source of hardrock ore for the Mt Bonnie plant and a possible economic alluvial resource. Nicholson and Nakai (1985) describe a programme and geological mapping undertaken over the EL during its first year. During the last year 12 bulk samples of alluvial material were collected and processed. Grades and thickness of alluvial were insufficient to justify further work by the Mount Bonnie Gold Unit Trust. Hardrock exploration work by the trust at similar deposits nearby indicate effective exploration and evaluation of Margaret Diggings type mineralisation is very expensive due to the extremely spotty nature of the gold mineralisation. It was therefore decided to discontinue further hardrock exploration. The trust has since allowed the option agreement with Mr FS Frith to expire.