Final report EL 24262 Moline Project Year ending 2 March 2011

Abstract

EL 24262 is located about 200 km SE of Darwin along the Kakadu Highway with a distance of about 45 km from Pine Creek. This EL makes up one of 7 exploration licences (EL 22966, EL 22967 EL 22968, EL 22970, EL 23605, EL 24127, EL 24262) covering the Moline goldfield. Terra Gold Mining Pty Ltd, a wholly owned subsidiary of GBS Gold Australia acquired exploration rights from tenement owner (Mike Teelow) in 2004. Crocodile Gold acquired the Moline group of tenements in 2009 after GBS Gold Australia (liquidated) when into voluntary administration. The tenement expired on 2 March 2011 and an application for SEL 28616 was applied for on 11 February 2011 to cover the area over the Moline Project (EL 22966, EL 22967, EL 22968, EL 22970, EL 23605, EL 24127 and EL 24262). EL 24262 is situated within the central region of the Pine Creek Orogen, which is characterised by open to tight, upright N to NW-trending folds of the Palaeoproterozoic meta-sedimentary and volcanic rocks. The tenement area is dominated by massive greywacke of the folded Burrell Creek Formation, with portions of the McCarthys Granite in the north-west corner of the tenement. The Burrell Creek Formation is principally composed of greywacke, siltstone, sandstone and shale. From 2003 to the licence expiry in February 2011, exploration activities on EL 24262 have included field mapping and reconnaissance work, desktop studies, surveying and geochemical sampling. The Rockwall Prospect on the southern boundary of the EL 24262 was found to be of interest however, most of the mapping and sampling over EL 24262 focused on the northern boundary of the tenement, where sampling and mapping identified the southern extent of a soil anomaly situated over EL 23605 and EL 22967.