Annual exploration report on EL 23532 Mount Ringwood, for the year ending 12 February 2010

Abstract

During the current reporting period a desk top GIS review and data compilation commenced using information from open file reports to identify gold and base metal exploration targets for the 2010 field season. Mineralisation in the tenement is hosted by isoclinally folded and heavily cleaved greywacke and slate of the Burrell Creek Formation, which strikes 330-350degrees and is sub-vertical. The sedimentary rocks are sheared and lie within the north-western extension of the Pine Creek Shear Zone. The historic North Ringwood, Ringwood and South Ringwood mines are located within EL 23532 and form a series of pits, small open cuts and shafts grouped in three locations along a 6 km long line. Approximately 87 kg of gold was produced from theses mines between 1894 and 1902. The lodes consist of concordant quartz veins, including saddle reefs, the ore minerals comprise arsenopyrite, pyrite, galena and free gold (Ahmad et al 2009). In 1978 the Northern territory Geological Survey (NTGS) drilled four diamond holes at the North Ringwood Mine which intersected two zones of gold mineralisation and confirmed that mineralisation continued to a depth of 40m (Newton 1978). During 1980 to 1990 extensive drilling was carried out by a number of companies which identified the Pelican, North Ringwood, Old Workings, Hidden Valley, Lost Horizon and Vanishing Point prospects (Orridge 2004). The exploration program for the 2010 field season will include an infill airborne geophysics survey, rock chip and soil sampling programs with additional diamond and RC drilling planned dependant on results.