Annual report EL 29383 Mount Bundy Project for period ending 29 May 2013

Abstract

EL 29383 is a tenement of the Mt Bundy exploration group located about 68 km SSE of Darwin, along the Stuart Highway. The tenement is located approximately 35km and 45km respectively SW of the Primary Gold Rustlers Roost and Toms Gully Mines in adjacent tenements. Toms Gully is currently the subject of a Feasibility Study which the company hope to complete by the end of the September Quarter 2013 and which will form a hub for exploration and future mining activities in the Mt Bundy Project. The tenement is made up of rocks of the Burrell Creek Formation of the Finnis River group and extensive areas of Quaternary alluvium and sand. The Burrell Creek Formation interpreted as a sequence of fine to coarse marine sediments and appears to be part of continuous sedimentation process. Due to the lack of marker horizons and poor exposure the width of the unit is unknown but is thought to be >1000m. This Formation is considered prospective for large low-grade gold deposits and has the potential for small high-grade deposits. During the reporting period, Primary Gold commenced a review of the publicly available regional data and proprietary data from the region acquired when Primary Minerals Pty Ltd, a wholly owned subsidiary of Primary Gold Ltd, purchased the Mt Bundy Project from Crocodile Gold in February 2013. This purchase consolidated Primary Gold's land holding in the Pine Creek / Mt Bundy region and created an exciting suite of projects ranging from untested geophysical anomalies, significant gold in rock chip samples, anomalous results historic drilling requiring follow up through to the potential re-opening of the low tonnage high grade Toms Gully Deposit and large tonnage low grade Rustlers Roost Deposit. EL 29383 forms part of the Mt Bundy tenement group and whilst the consolidation of this project was being undertaken during 2012 and early 2013 no on ground exploration activity was conducted on EL 29383.