Annual exploration report EL 23432 Hayes Creek North year ending 8 May 2004

Abstract

EL 23432 is located 140km SE of Darwin, NT and 3km north of Hayes Creek on the Stuart Highway. The tenement is subject to the Burnside Joint Venture, managed by Burnside Operations P/L comprising Territory Goldfields NL and Buffalo Creek Mines NL. The latter are subsidiaries of Northern Gold NL and Harmony Gold (Australia) P/L respectively. The licence is centred on a topographically elevated area mainly comprising Burrell Creek Formation metasediments. The latter are part of the Lower Proterozoic Pine Creek Geosyncline. Older, more prospective rocks of the Koolpin Formation and Mount Bonnie Formation, underlie the westernmost block of the licence. This is the first year following grant of the licence and the annual expenditure was set at $6,000.00. The joint venture has been actively exploring the Burnside region since its formation in April 2002. Work to date has been focused on establishing open pit resources through RC drilling at Yam Creek, Mottrams, Chinese South,, and Woolwonga. Underground development and diamond drilling has been carried out at the Zapopan Mine and diamond drilling at the. Cosmo Howley Mine. Work on EL 23432 has been subordinate to activity on other JV tenements as the emphasis has been on establishing gold resources at established mineralised prospects. Expenditure during 2003-04 was related to a remote sensing study and reporting. This amounted to $650.00. A large volume of unsorted historic exploration data exists at the Brocks Creek library. Sorting and collation of this data in 2004-05 will advance the state of understanding of the tenement's prospectivity. This work is costed at $700.00.