Final report for MCC 219 to 222 Southern Cross 16 September 1987 to 6 June 2002

Abstract

MCC 219, MCC 220, MCC 221 and MCC 222 Southern Cross are located about 8 kilometres south west of Tennant Creek, immediately to the west of Mt Samuel on the Tennant Creek 1:100 000 scale map sheet. Giants Reef Mining NL (now Giants Reef Mining Limited (Giants Reef) entered into a joint venture agreement with Asarco Gold Pty Ltd (now Newmont Wiluna Gold Pty Ltd) on 1 January 1994 in which Giants Reef became the operator of the JV and had the right to earn equity in the tenements, which included MCC 219, MCC 220, MCC 221 and MCC 222 Southern Cross by funding exploration. The current equity position is Giants Reef 60% Newmont Wiluna 40%, with Giants Reef having the right to earn an increased participating interest. This final report records the exploration work done on MCC 219, MCC 220, MCC 221 and MCC 222 during their 15-year life, from 16 September 1987 to 6 June 2002 when the Claims were surrendered. The Claims are sited on the very productive trend of mines, which includes Nobles Nob (1.1 million ounces), Juno (815,000 ounces), Eldorado (122,700 ounces) and many smaller mines. Work done over the 15 years included gridding, rock chip sampling, lag geochemistry and soil sampling. Two areas of anomalous metal values were delineated in the eastern half of the area by lag sampling. A smaller anomaly was found in the northwest corner of the claim block. The soil sampling confirmed the anomalies to be in similar locations to those found by the lag sampling. References are made in this report to earlier reports that describe the work done in detail. Since the declaration of the Mt Samuel (Marla Marla-Kantanji) registered site no exploration work has been carried out on the claims. Due to the Aboriginal registered site over these Mineral Claims, no exploration work can be carried out. Giants Reef believes it is extremely unlikely that the traditional owners will allow any exploration or mining in the Marla Marla-Kantaji site in the foreseeable future. For this reason it was decided to surrender the Claims rather than attempt to renew them for a second time.