MCC 339 annual report Black Cat period 26 November 2007 to 25 November 2008

Abstract

No work was carried out on MC C339 during the reporting period. Tribute Developments Pty Ltd is currently seeking interested parties to farm-in to the Black Cat lease MCC 339. The Black Cat mine is located 20 kilometres ENE of Tennant Creek town site and is accessible by a two wheel drive track via the Lone Star and Mammoth mines. The topography in the area is gently undulating with prominent mesas and scarps in areas with silicified ironstone. Gold was mined on a small scale from the Black Cat prior to 1936 and more consistently during the period 1937-42. The total recorded gold production is 1,023 ounces at grades varying between 8 and 18 g/t Au. Previous exploration phases reportedly consisted of ground magnetic surveys and geological mapping. Additional mapping, an electromagnetic survey and 16 drill holes were completed by Australian Development NL in 1959. Results of this drilling were not considered encouraging. The better intercepts from this program ranged from 3.65m at 2.5 g/t Au to 1.23m at 5.4 g/t Au. In 1987 National Gold NL completed mapping and a sampling program at the main Black Cat workings and dumps. This work indicated the potential for gold lodes within a shear zone to continue below the depth of the existing workings. In 1988 Adelaide Petroleum NL and Sabminco NL completed 11 RC drill holes targeting the more prospective areas defined by the various phases of exploration activities. The main objective was to investigate the inferred shear zone below the Black Cat workings and to test the continuity of the ironstones to the west of the workings. The drill holes intersected hematitic shales/siltstones. This work down-graded the potential for a high-grade ironstone related gold deposit occurring on the lease.