1st Annual Report EL 29653 for the period 14 May 2014 to 13 May 2015 Mount Bundey Project

Abstract

This report covers exploration during Year 1 of EL 29653 that includes a review of some of the available NTGS datasets and open file reports by previous explorers in the region, reconnaissance mapping in the Halkitis Mt Bundey aggregate quarry, limited geochemical surface rock sampling and lithogeochemical sampling of a limited number of shallow blast holes in the quarry floor. While there has been considerable exploration for gold, base metals iron and uranium in the region surrounding Mt Bundey and Mt Goyder using the intrusion related model and small mining operations for gold at Toms Gully, Rustlers Roost, and iron ore at Pritchards Iron Lode, overall the area of this EL has been poorly explored. EL 29653 straddles the Arnhem Highway, approximately 120km by road southeast of Darwin in the Marrakai region of the NT, where Halkitis Bros (HB) recommenced quarrying operations in 1992 at Mt Bundey to supply high-quality aggregate for infrastructure and construction purposes. The quarry dates back to the 1970's. HB, the company that owns and operates the Mt Bundey aggregate quarry, has recently noticed signs of sulphide mineralisation as the quarry benches are advanced. They considered it was in their interests to apply for an exploration licence over the quarry and surrounding area and to carry out sufficient exploration to determine whether these signs were of economic interest. Exploration work during the first year included a review of some of the open file reports and establishment of a GIS database, brief mapping of lithologies alteration and mineralisation in the quarry, the collection, description and assay for 61 elements of 8 samples of a range of sizes of crushed quartz monzonite from the crusher, 3 quartz vein and quartz stockworked syenite samples from the northern part of the quarry and 15 syenite and quartz monzonite samples from 15 broad-spaced shallow blast holes in the quarry floor. This shows that that the Mt Bundey Igneous Complex comprises more intrusive phases than have been recognised previously and now includes equigranular and porphyritic syenite, quartz syenite, quartz monzonite, monzogranite, pegmatite, trachyte and lamprophyre. The alkalic nature of the intrusive suite and the overall equigranular phaneritic to porphyritic nature of most of these rocks suggests that this complex may be assigned to the alkali group of porphyries. Minor pervasive and fracture controlled alteration and mineralisation is typical of alkali porphyries recently recognised in British Columbia Canada, the Macquarie Arc of the Lachlan Fold Belt in NSW and the southwest Pacific and suggest that this intrusive complex has potential for Cu-Au-Ag-Mo mineralisation of the alkali porphyry type.