Annual exploration report on the Golden Dyke Group, MLN 794, MLN 795 and MCN 1456 - 1463, year ending 31 December 2004

Abstract

The region had been extensively explored by Northern Gold NL prior to becoming party to the Burnside Joint Venture in April 2002. The Burnside Joint Venture took over joint ownership of tenements within a 30 km radius of the Brocks Creek gold treatment facility. The operating entity for the JV was Burnside Operations Pty Ltd. Initially the JV conducted field work, including RC drilling at Yam Creek, North Point, Cosmo Howley, Bons Rush, Fountain Head and Woolwonga. At the Zapopan Mine, new underground access was installed in 2003 as a first priority and development ore was treated at Union Reefs mill. In August 1994 the joint venture sold the Brocks Creek Mill to Tanami Gold NL and concurrently bought the Union Reefs Mill and tenements from AngloGold. Following on from this purchase RC drilling has been carried out at the JV's Pine Creek tenements. The Golden Dyke tenement group was assigned a low-medium ranking due to its mature status in terms of historic and recent exploration. Furthermore, most of the readily accessible known oxide gold ores had been mined and treated prior to 1986. As a consequence, the tenements require further study to identify prospects that promise to enhance the inventory of gold resources in the Burnside JV area. These would then have to be ranked against other deposits in the region and at Pine Creek. Further work is required to complete this study. The Golden Dyke group tenements were included in a review of all gold resources within that radius. Expenditure on reporting and review in the Golden Dyke group during 2004 was estimated to total $550.00.