Annual Report MLN 13, MLN 1130, MCN 317, MCN 523, MCN 1054, MCN 1055 and MA 416 GR188 year ending 15 March 2015

Abstract

The Pine Creek Group of tenements comprises 7 tenements (MA 416, MLN's 13, 1130, and MCN's 317, 523, 1054, 1055). This group is located approximately 220 km SE of Darwin. Crocodile Gold Australia acquired the tenement group in 2009 by purchasing liquidated assets of GBS Gold Australia. Historically, the tenements have been the focus of alluvial and hard rock gold mining activity since 1869. In the central part of the tenement group, the tightly folded host greywacke-siltstone facies sequences of the South Alligator and Burrell Creek Group are present, which have been intruded by the Cullen Batholith. Gold mineralisation within the Pine Creek group is focused in the axial zones of parallel major upright folds. The most productive is the Enterprise Anticline; others are International-Czarina anticlines. The folds plunge shallowly towards 135 degrees at around 10 degrees and the limbs dip southwest and northeast at around 65 degrees. There are a number of gold deposits located within this geological setting. Exploration activities during the reporting period have been limited while activities were concentrated on current operations. Crocodile Gold also completed a 'farm-in' joint venture with Phoenix Copper over many Exploration Licenses; this agreement did not include the Pine Creek project but was a focus for the company over the past 12 months. Crocodile Gold still views the Pine Creek area as being a significant project and with improving gold prices these deposits will be reviewed and ranked with other projects over the next 12 months.