Final report EL 22968 Moline project for year ending 30 April 2011

Abstract

EL 22968 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 30 April 2011 and an application for Substitute Exploration Licence (SEL) numbered 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 22968 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 which is typically a cyclic greywackedominated assemblage with minor dark siltstone and mudstone packages. Over the Moline Project, gold mineralisation occurs within greywacke, siltstone and carbonaceous phyllite of the Mt Bonnie Formation. It is also confined to metagreywacke and slate of the Burrell Creek Formation. From 2003 to the licence expiry in April 2011, exploration activities on EL 22968 have included field mapping and reconnaissance work, desktop studies and minor geochemical sampling.