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Title: Annual Group Technical Report MLN's 1058 and 1083, MCN's 3333 - 3339, Mount Bundy and Toms Gully Project, 16 October 2011 to 15 October 2012
Title Holder / Company: Crocodile Gold
Report id: CR2012-0895
Tenure: MLN1058;  MLN1083;  MCN3333;  MCN3334;  MCN3335;  MCN3336;  MCN3337;  MCN3338;  MCN3339
Year: 2012
Author: Edwards, M
Abstract: The Mt Bundy (formally Rustlers Roost) and Toms Gully tenement group (MCN's 3333-3339, MLN 1058 and MLN 1083 (Rustlers Roost)) are located some 110 kilometers south-east of Darwin. These tenements were granted in 1989 (expect for MLN 1083, granted in 1991). In July 2007, GBS Gold Australia Pty Ltd acquired all mining and exploration assets, located in the Toms Gully Region, including tenement group discussed in this report. Crocodile Gold Australia secured all titles (excluding MLN 1083) along with other tenements after GBS Gold Australia went into voluntary administration. Rustlers Roost was acquired by Crocodile Gold from Rustlers Roost Mining on the 18th of October, 2010. Crocodile Gold holds an 80% stake in this title with the other 20% Split between Karren On and Stanley Fletcher (10% each), however Crocodile Gold manages the tenement for the other holders. The MCN's 3333-3339 and MLN 1058 lie within the Wildman Siltstone, a sequence of tightly folded strata with an unconformable contact between the Wildman Siltstone and the Koolpin Formation. A small portion of the Koolpin Formation is also covered by the tenements. Towards south-east, Mount Bundey Granite intrudes the orogenic sequence. MLN 1083 covers rocks of the Burrell Creek Formation of the Finniss River Group and Mt Bonnie Formation of the South Alligator Group. Crocodile Gold has reviewed the data available for both these projects over the past two years and ranked these with other deposits/project held by the company. It was decided during the reporting year that these deposits are not core assets so the decision was made to divest these projects. During the reporting year Crocodile Gold entered into a Sales Agreement with Primary Minerals who are working towards gaining ownership of the Mt Bundy Project area including the Mt Bundy and Toms Gully deposits. Activities during the 2012 reporting period included the generation of Mine Management Plans (MMP) for Toms Gully and Mt Bundy, which is required under the current mining act. This work also included the water monitoring program as dictated in the MMP. Other work completed included the rehabilitation of Toms Gully drill holes plus a general clean-up of material for around the mill site. Crocodile Gold also ranked this deposit with all other deposits held and the decision was then made to divest of the Toms Gully and Mt Bundy assets as they were seen as non-core to the company and exploration on this would be limited in the short term. Crocodile Gold entered into a sale and purchase agreement with Primary Minerals in May 2012. A total of $127,094 was report as Mining Expenditure on MLN 1058 for the last 12 month period. At this stage Primary are in the process of reviewing the Toms Gully and Mt Bundy Mineral Resources with the idea of evaluating a possible start up in the short term. This will form part of a feasibility study on these deposits. Some drilling may be required to extend the Toms Gully resource but this is still to be determined.
Date Added: 27-Dec-2019
Appears in Collections:Minerals Exploration Reports (MEX)

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