Annual report on EL 8704, 18 July 1998 to 17 July 1999

Abstract

EL 8704 is located approximately 95 kilometres south - east of Darwin on the Mount Bundey 1:50,000 scale map sheet. The licence is situated in the Pine Creek Geosyncline and is made up of Mount Bundey Granite in the east and Burrell Creek Formation in the west. Carpentaria Gold completed a work program, comprised of regional stream sediment sampling for gold and base metals, followed by reconnaissance rock chipping over areas of interest, over the area now held as EL 8704. Prior to this, Geopeko explored the ground in the early 1970?s. Dominion Gold Operations Pty Ltd completed five RAB drill holes over EL 8704 in 1994/95. Results were disappointing with no gold assays greater than the detection limit of <1ppb Au returned. Northern Gold NL has completed digital data studies, regional soil sampling, rock chip sampling and MMI geochemical soil sampling programs over the licence. The programs identified a south south-east to north north-west trending zone with highly anomalous arsenic soil geochemistry and associated base metal mineralisation. Results for gold were disappointing. EL 8704, consisting of 3 blocks, ten square kilometres in area, was originally granted to Dominion Gold Operations Pty Ltd on the 18 July 1994, for a period of three years. Territory Goldfields NL, which is managed by Northern Gold NL, acquired the tenement in May 1995. A waiver of reduction was granted over the tenement on the 3 October 1996, enabling 3 blocks to be retained until the 18 July 1997. Renewal applications were submitted in July 1997 and April 1999. Two blocks of the licence were voluntarily relinquished in February 1999. Northern Gold NL completed an infill MMI geochemical soil sampling program over EL 8704, during the 1998/99 exploration season. Samples, consisting of approximately 500 grams of soil, sieved to a -6 millimetre size fraction, were collected on 50 metre centres along three, 400 metre spaced lines. A total of 50 samples, including duplicates, were collected and submitted to Amdel Laboratories Ltd., in Perth, for analysis of Au, Ag, Ni, Co, and Pd, using WAM ?B? MMI technique, and analysis of Cd, Cu, Pb and Zn by WAM ?A? MMI method. The peak results returned were 0.47 ppb Au (Sample No. 192724, 8571140N : 777700E) and 5,015 ppb Pb (Sample No. 192704, 8571540N : 777400E). Infill soil sampling, geological mapping and rock chip sampling programs are required over the western block of the tenement, to further investigate the source and discontinuous nature of the base metal anomaly. The covenant for the 1998/99 year of tenure was $5,500, and the expenditure totaled $5,925.