Annual Report EL 25054 Maud Creek Project for period ending 17 April 2014

Abstract

Exploration Licence (EL) 25054 is located about 20 km east of Katherine. It surrounds the Maud Creek gold project which has approximately 1 million oz of contained gold. The tenement was granted on 18 May 2006 to Terra Gold which was a subsidiary of GBS Gold Australia. Crocodile Gold took over the assets of the failed GBS Gold in November 2009. Since that time Crocodile Gold has conducted exploration activities on the Maud Creek project to assist with the final go ahead of the Maud Creek deposit located to the north of this tenement. The geology of the Project area comprises folded Palaeoproterozoic meta-sedimentary and volcaniclastic sequences. These are unconformably overlain by the Meso- Proterozoic Kombolgie Sandstone, which forms scarps. Flat-lying areas are covered by Cambrian Antrim Plateau basalts, and Cambro-Ordovician limestone covers much of southern part of EL 25054. Economically important rock units of the project area comprise greywackes, mudstones and tuffs of the Palaeoproterozoic Tollis Formation. The Maud Dolerite intrudes the Tollis Formation and forms irregular bodies up to 200m in width. The margins of the Maud Dolerite are strongly sheared, with mineralised quartz-filled shear zones. The Tollis Formation hosts the Maud Creek Gold Project on adjacent tenements. Exploration activities for the reporting period included a desktop and data review database plus a field recon trip to the Copper Breccia deposit extending west to follow the geological boundary. There were 15 rock chip samples taken during this site recon trip. During the next reporting period, Crocodile Gold will continue to review all new historical documents related to this area. An evaluation of targets generated by the 2012 exploration review is still being undertaken to help direct future work on the tenement.