Annual Report EL 29520 for period 1 July 2013 to 14 January 2014

Abstract

Tenement EL 29520 lies approximately 230km SSE of Darwin along the Stuart Highway and 6km SE of the town of Pine Creek. Access is via good sealed roads from Darwin to Pine Creek and from thence via station tracks. The tenements surround areas of extensive gold mineralisation associated with the Pine Creek Shear Zone. The tenement overlies outcropping granites of the Cullen Supersuite, including the Bonrook Granite and the McCarthy Granite with regular outcrops of Burrell Creek Formation of the Finniss River Group on the western edge of the tenement. Cainozoic soils dominate in the east of the tenement The Burrell Creek Formation interpreted as a sequence of fine to coarse marine sediments and appears to be part of continuous sedimentation process. Due to the lack of marker horizons and poor exposure the width of the unit is unknown but is thought to be greater than 1000m. This Formation is considered prospective for large low-grade gold deposits and has the potential for small high-grade deposits. EL 29520 was previously part of the group report GR307/13, Pine Creek One Project, with a common reporting date set to 30th June. Following a review and rationalisation process in late 2013 all tenements from this group, with the exception of EL 29520 were surrendered. Following the surrender process EL 29520 reverted to its original reporting date related to the grant date of 15th January. This report represents the work completed on the tenements for the period 1st July 2013 to 14th January 2014. No field work was under taken prior to the onset of the wet season although desktop studies have continued. During the 2014 exploration year, activities will include an ongoing review of historic geochemical and geophysical data, with reconnaissance field visits and geological mapping. Work to date has indicated that not all the work completed by previous operators has been included in the DIPs data base and the collation and review of this information is important in making a full assessment of the projects potential.