Annual Technical Report GR356 Moline Mining Group MLN 41, MLN 1059 and ML 24173 16 August 2014 to 15 August 2015

Abstract

This is the first annual technical report combining the Moline mineral leases MLN 1059, MLN 41 and ML 24173. Theses leases held by Crocodile Gold Australia - now a subsidiary of Newmarket Gold - are being explored in two separate joint ventures with Rocklands Resources (for uranium) and Phoenix Copper (for all other minerals). The Moline mineral leases are located about 240 km SE of Darwin. It covers Moline Gold Field (including the Hercules, School, Moline and Tumbling Dice deposits) as well as numerous small gold and base metal occurrences and historical workings in the area. The tenement encompasses a suite of meta-sedimentary rocks which belong to the Burrell Creek and Mt Bonnie Formations. Locally these rocks are isoclinally folded with fold axes plunging at shallow angles to the south east. Mineralisation is found in zones of pyrite, quartz, and brecciated country rock with minor veinlets of sphalerite, tetrahedrite, arsenopyrite, chalcopyrite and carbonates. During the reporting period, data was transferred to Phoenix Copper as the main operator of the leases. Phoenix Copper personnel made several reconnaissance field visits and commenced compiling the historical datasets to ascertain the residual potential of the historical deposits. Phoenix Copper also commissioned a geophysical targeting review, primarily utilising VTEM and aeromagnetic data. Phoenix Copper believe there is excellent potential to define and discover additional gold resources beneath and adjacent to historical workings where mining activities were abruptly stopped in the 1990's, therefore this will be a focus of targeting work during the next period.