Annual Report EL 29330 Mount Bundy Project for period ending 22 October 2015

Abstract

EL 29330 is a tenement of the Mt Bundy exploration group located about 81 km SE of Darwin and approximately 40km SW of the historic Toms Gully Mine owned by Primary Gold and 9km east of the small township of Adelaide River. The licence was granted to Primary Minerals Pty Ltd in October 2012 for a period of 6 years. Primary Minerals is a wholly owned subsidiary of Primary Gold Ltd. The tenement is underlain in the north by extensive areas of Cainozoic alluvium, colluvium and soil with minor outcropping feldspathic lithic greywackes of the Burrell Creek Formation of the Finniss River Group becoming more frequent in the south of the tenement and lies predominantly west of the Mt Shoobridge Fault. The thickness of the Burrell Creek Formation is difficult to establish but is thought to be >1000m and is conformably underlain to the NE of the tenement by the formations of the South Alligator Group. This Burrell Creek Formation hosts numerous small to moderately sized gold bearing quartz vein style prospects, the largest of which is the abandoned Goodalls Mine some 11km east of the tenement. Work completed during the reporting period by Primary Minerals was limited to a desktop literature review of available public data. The tenement forms part of the greater Primary Gold Mount Bundy Project which includes the historic Toms Gully, Rustlers Roost and Quest 29 Mines. Primary Gold has undertaken a successful feasibility study on the Toms Gully Mine and hopes to use the infrastructure development of this project to realise the potential of regional prospects such as may be found on EL 29330. The proposed work program for the third year of tenure is to include ground reconnaissance and investigation of historic sample data with systematic infill and follow up geochemical programs and geophysical surveys as appropriate.