Final Report EL 23432 Burnside Project - Hayes Creek North 9 May 2003 to 8 May 2012

Abstract

EL 23432 is located about 140km SE of Darwin, Northern Territory, and 3km north of Hayes Creek roadhouse on the Stuart Highway. The tenement was granted to Burnside Joint Venture in 2003, managed by Burnside Operations P/L comprising Territory Goldfields NL and Buffalo Creek Mines NL. These were wholly owned subsidiaries of GBS Gold Australia Pty Ltd. GBS Gold Australia went into voluntary administration on 15 September 2009 and Crocodile Gold Australia purchased all assets held by the previous owner on 6 November 2009. The tenement overlies the Burrell Creek Formation of the Finniss River Group. East of the tenement is the Hayes Creek Fault, a major north east striking fracture system. The Burrell Creek Formation that forms high ground in the tenement occupies the axial zone of the fold. This is interpreted as a refolded syncline. South-east and South-west of the tenement, deformed and metamorphosed rocks of the South Alligator and Mount Partridge Groups are present, which are inter-bedded with the Zamu Dolerite. Work that has been completed by Crocodile Gold includes the review of all historic data including past geophysical surveys, surface geochemical sampling and drilling, it has been noted that little work has been done on this tenement meaning a first pass program would be required. Seeing as this title has been held for around 10 years and little work completed on ground Crocodile Gold decided to relinquish as there are other higher ranked targets to explore.