Annual exploration report MCN 4293, MCN 4294, MCN 4295, MCN 4296, MCN 4956, MCN 4957 and MCN 4958 for period ending 29 June 2010 Bridge Creek North, Burnside Project

Abstract

The Bridge Creek North (MCN 4293, MCN 4294, MCN 4295, MCN 4296, MCN 4956, MCN 4957 and MCN 4958) project is a strategic landholding within Crocodile Gold Australia's portfolio. It is located about 135 km south of Darwin, and about 35km SE of Adelaide River Township. A gold deposit (Ios) is located on the northern side of the project area where it is hosted in the brecciated contact zone between the Gerowie Tuff and the Zamu dolerite. Mineralised horizon is confined to an axial zone of the NS-trending anticline which is northern continuation of the Howley Anticline. In the southern part of the project area the Koolpin Formation, Gerowie Tuff, interlayered with the Zamu Dolerite, are present. F3 fold in the form of anticlinal structure exerts strong structural control in the project area. Exploration carried out by Territory Goldfields NL during the 1990's shows the tenement group host gold mineralisation, where Ios deposit with a reported resource of 723,438t at 1.29g/t Au for approximately 30,000oz Au. It is anticipated that with further exploration the project area will provide additional resource as feed stock to the Union Reefs mill in the near future. During the reporting period a technical review of the tenements was undertaken which supports additional mineral potential of the project area. Review of the data suggests that there is possibility of additional ore. In the area, gold mineralisation is confined to a brecciated zoned within the Gerowie Tuff and Zamu Dolerite, which defines a prospective stratigraphic horizon in the Pine Creek Orogen. The Bridge Creek North project is a strategic project which will provide additional feed stock to the Union Reefs mill. There is a strong possibility that with further exploration, current resources might increase substantially. In the year 2010-11, a possible campaign of sampling and RC drilling may be carried out. A minimum budget of $10000.00 is proposed.