ML 24727 Annual report for the period 5 April 2008 to 4 April 2009

Abstract

ML 24747 overlies a significant number of the ore deposits at Frances Creek, and as such significant work was carried during the 2008 - 2009 reporting period. The tenement is located 220km south of Darwin, and 23km north of Pine Creek. The lithology is comprised of Palaeoproterozoic sedimentary rocks that have been folded and metamorphosed to green schist facies. Mineralisation is restricted to a narrow brecciated zone that runs above and sub-parallel to the Lower Wildman Formation footwall. Work included: New QuickBird satellite photography was obtained from SRK Consulting to provide base maps for aboriginal heritage and geological mapping; 584 Reverse Circulation holes were drilled for a total of 38,555 metres; 16 triple tube HQ3 diamond holes were drilled for a total of 991.6 metres; Structural and geological surface mapping over selected prospective parts, of ML 24747; Extensive Aboriginal Heritage work over areas within the tenement likely to be disturbed by either Exploration or Mining; Hydrogeological study conducted on the Helene 6/7 ore body by MWH Global hydrogeological consultants to assess potential dewatering strategies for the Helene 6/7 open cut Mining; Resource models were completed by Territory Resources personnel for Helene 3, Helene 5, Helene 6/7, Helene 11, Thelma Rosemary, and Ochre Hill; New geotechnical investigations were conducted on the Ochre Hill and Helene 5 ultimate pit shells for ground stability. Total expenditure during the reporting year was $5,077,200.20.