Mount Ringwood Joint Venture MLN 872 to MLN 883 Report on exploration for the period 11 April 1988 to 31 December 1988

Abstract

An exploration program consisting of gridding, soil , rock chip geochemistry and geological mapping was undertaken by White Industries Limited (WIL) on all twelve mineral leases during 1988. The leases cover four groups of old workings. By September, total expenditure under the joint venture agreements was sufficient to earn WIL a 50% share in the leases. Expenditure on the mineral leases was $152,063 up to end September and $27,076 in the period October to, December. This exploration has indicated that three of the four prospects, John's Hill, Star of the North and Great Northern, are good target areas for followup costeaning, IP survey and drilling. All three have strong gold-arsenic soil anomalies and all appear to be located within or close to axial planes of prospective north-plunging anticlines. Rock chip sampling indicates values up to 19.5 grams/tonne at John's Hill, 30 grams/tonne at Star of the North, and 8.8 grams/tonne at Great Northern. A program of exploration in several stages is proposed for 1989 at an estimated cost of $530,000.