Relinquishment Report Caroline Tenement Group MLN's 51 to 57, 9 November 2009 to 23 September 2015

Abstract

The Caroline Group of tenements comprises MLNs 51-57 and is situated about 170km SE of Darwin, Northern Territory, and 8km north of Pine Creek. This group is only 7km south of the Union Reefs mill. These titles are located within MLA 27999 which has the Esmeralda Resource. ELR 130 is also located over the Caroline Mineral Leases. The Caroline tenements were initially the subject of a base metals search in the late 1960s. Subsequent soil and costeaning work by Aztec Resources showed gold and arsenic anomalism occurred adjacent to a zone of historic shallow base metal workings. Acacia Resources Limited explored the area in the 1990s. Exploratory RC drilling located narrow but significant gold intercepts towards the southern end of the group, adjacent to a regionally significant but barren dolerite dyke. In 2014 Crocodile Gold conducted a regional mapping campaign in and around the Esmeralda deposit which includes the Caroline leases. This mapping showed there is still potential for further discovery around the Caroline deposit with drilling recommended. As Crocodile Gold still owns ELR 130 as well as having the area under an ML application it was decided the historic MLN's were no longer required.