Annual Group Report ML 23617, MLN 414 to MLN 418 Burnside Project - Bon's Rush and Rhodes Group year ending 15 February 2015 GR186

Abstract

The Mt Paqualin group of tenements (ML 23617 and MLN 414 to 418 - which are currently being surrendered) are located approximately 150 km SSE of Darwin. The tenements host the Bon's Rush and Rhodes gold deposits. The tenements were acquired by Crocodile Gold in November 2009 from previous owners GBS Gold Australia. The area covers rocks of the South Alligator Group which comprises the Koolpin Formation, Gerowie Tuff and Mount Bonnie Formation. The sequence occurs as north-trending tongue which is surrounded by the Burrell Creek Formation. The sequence has been folded into south- plunging anticlinal structure where western limb has been affected by a NW-trending fault. The Zamu dolerite occupies the hinge of the fold and appears to have been interlayered within the Koolpin Formation and Gerowie Tuff. Outcrop within the Rhodes group of tenements is very poor due to extensive black soil and creek alluvium deposited by Howley Creek immediately to the south. Interpretation from regional mapping, and supported by drilling, shows that the Gerowie Tuff, of the middle South Alligator Group, underlies much of the area. This unit has been intruded by mafic Zamu sills and folded into north trending structures. Work conducted on the Mt Paqualin group of tenements during the reporting included a reconnaissance mapping campaign around the Bon's Rush deposit by contract geologist Paul Karpeta. Also during the reporting period a decision was made to relinquish the Rhodes titles as they are located within the Kazi mineral lease application (MLN 1152). This means the Bon's Rush title is the only one included in this group report this year. During the next reporting period more work will be completed to follow up on the preliminary mapping completed by Karpeta. It is also hoped that the Land Use Agreement between Crocodile Gold, the NLC and the traditional owners can be completed during the next 12 months. This will allow for the granting of the mineral lease application MLN 1152.