Fourteenth annual report of exploration 2007 AN 364 Mount Fitch North

Abstract

Authority to Explore No. N364 (357.8 hectares) was granted to Compass NL for five years on 2 July, 1993. The tenement was joint ventured with Billiton Australia Gold Pty. Ltd. (later Acacia Resources Limited) on 4 August, 1993. Acacia managed the joint venture until mid-June 1997 when Compass Resources NL. resumed management. A request for waiver of reduction of AN 364 was granted on 9 August 1995 for 12 months. A waiver of reduction of AN 364 was again granted on 12 July 1996 for 24 months enabling the retention of the total area until 1 July 1998. A small portion of the southeastern section of the tenement, which was on Aboriginal Freehold land, was relinquished in July 1998 when the tenement was renewed for a further two years. A series of renewals have been granted in the interim years and currently a Mines Dept renewal has been granted for exploration activities to cover work by Compass Resources until 1st of July 2008. The tenement now covers an area of 348.9 hectares. During the 2006 field season exploration work consisted of field visits by Compass geological personnel with some reinvestigation of old workings and outcrops plus investigating by GPS the sites of previous exploration. The planning of a 750m drill program was then undertaken after researching previous exploration data. During 2006 this RC drilling did not eventuate partly because a bush dwelling had been built over the main anomaly and Compass will need to enter into negotiations with the landholder to drill over this area. Therefore the drilling rig that was scheduled to come here late in 2006 instead remained drilling at the Browns and Mt Fitch deposits.