GR308/13 Annual Report EL 29362 and EL 29521 Pine Creek Two Project for period ending 30 June 2016

Abstract

Tenements of GR308/13 lie approximately 190km SSE of Darwin along the Stuart Highway, approximately 35km NNW of the town of Pine Creek. Access is via good sealed roads from Darwin to Pine Creek and from thence via gravel roads built to service the various local mining centres; Brocks Creek, Mount Bonnie, Fountain Head and Port Darwin Camp and also station tracks. The tenements surround areas of extensive gold mineralisation associated with the north western extent of the Pine Creek Shear Zone. The tenements are dominated by metasediments of the South Alligator Group and the Prices Springs Granite of the Cullen Supersuite. Due to depressed market conditions and the company's focus on the completion of an Environmental Impact Statement at the flagship project at Tom's Gully, there has been no field work completed on tenements within GR308/13 in the current reporting year. Work for the reporting period has been restricted to a review of the publicly available regional geological and geophysical data and the compilation and review of historic data. The Toms Gully Project is an integral part of the company's exploration strategy, a return to production of this asset is proposed to aid funding of future regional exploration programs. During the 2016-2017 reporting year the Pine Creek Group 2 tenements will be subject to a detailed geological review of historic data and it is proposed that regional reconnaissance and hammer prospecting will, be undertaken in conjunction with geological mapping and field review of results reported by previous explorers.