Third annual and final report EL 29523 Mount Lachlan Pine Creek 10 May 2015 to 4 February 2016

Abstract

EL 29523 Mount McLachlan is located about 220 km south of Darwin and is being explored by Element 92 Pty Ltd. The area covered by licence was also previously held by Element 92 as tenement EL 26955 granted to Element 92 in 2009. EL 26955 was relinquished by mistake in December 2011 and the tenement was granted again to Element 92 Pty Ltd on 10 May 2013 as EL 29523. The tenement covers a small section of the Pine Creek Shear Zone which runs north-westerly through the Palaeoproterozoic metasediments between Allamber Springs Granite, to the east, and the McMinns Bluff Granite and Tabletop Granite, to the west. The Pine Creek Shear Zone has been a major focus for the passage of gold-bearing fluids and hosts majority of gold occurrences in the Pine Creek Orogen. The fault zone trends NNW and consists of a number of sub-parallel faults, over a 5 km corridor, with apparent sinistral movement of up to 2 km. The Mt McLachlan tenement area is located in the southern part of the Pine Creek Orogen which is dominated by mudstones, siltstones, greywackes, sandstones and tuffaceous rocks which have been assigned to the Mount Bonnie and Burrell Creek formations. Exploration conducted by Element 92 over the tenement during its life included soil sampling, reverse circulation drilling and High Powered Downhole TEM on two holes. Element 92 has identified quartz vein slightly anomalous in gold and copper but overall results were inconclusive and High Powered Downhole TEM failed to detect any anomalism. Therefore Element 92 has decided to fully relinquish the licence.