GR308/13 Annual Report EL 29362, EL 29520 and EL 29521 Pine Creek Two Project for period ending 30 June 2017

Abstract

Tenements of GR308 lie approximately 190km SSE of Darwin along the Stuart Highway and 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 the implementation of a staged exploration approach by the new management team with a focus on the known deposits of the Mt Bundy project area and the company's continuing emphasis on the completion of the Environmental Impact Statement at the flagship project at Tom's Gully, limited field work was completed during the period. Work on the tenements within GR308 during the current reporting year has been restricted to a review of the publicly available regional geological and geophysical data, compilation of historic data and hammer prospecting of the prospective structures where mineralised quartz veins are exposed. Two rock chip samples were collected neither sample produced an anomalous. During the 2017-2018 reporting year follow up work for this period will include: hammer prospecting and geochemical sampling of the prospective structures identified.