MCC 338 annual report Black Cat period 26 November 2007 to 25 November 2008

Abstract

No work was carried out on MCC 338 during the reporting period. Tribute Developments Pty Ltd is currently seeking interested parties to farm-in to the Black Cat lease MCC338. Historic mine workings at Black Cat consist of three shafts and an adit that leads to a stoped area beneath the silicified ironstone capping. The gold mineralisation occurs in highly weathered and friable fine grained brecciated clayey sediments. The workings extend to depths of 10 to 15 metres below the ironstone where enrichment of gold bearing lithologies as a result of weathering processes has occurred. 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.