Annual Group Report for ML 29781, ML 29782, ML 29783, ML 29785, ML 29786, ML 29812, ML 29814, MLN 1058 and MLN 1083 Mount Bundy, Rustlers Roost and Quest 29 Projects for the period 1 December 2014 to 30 November 2015 304/13

Abstract

Primary Gold has not undertaken any on ground exploration work on the Mount Bundy (Bundey) Project mining licences during the current reporting period and work has been limited to ongoing reviews of the extensive drilling data base and the re-processing of a Sub Audio Magnetic (SAM) Survey undertaken by previous operators in 2005. The company has allocated significant technical and financial resources to the undertaking and completion of an Environmental Impact Statement with respect to the recommencement of operations at Toms Gully. Re-processing of the historic SAM data, in particular the late time data not previously examined, failed to highlight any convincing anomalies. However, the exercise did highlight numerous NE-SW striking breaks within the dipping reef that may be structures of interest. This orientation is coincident with interpreted high grade Au zones identified within the Toms Gully Resource model. Previous modelling has had mineralisation confined between two N-S striking fault zones with no other apparent structural control. At a gross scale this still appears the case but it may be that a second order control on higher grade mineralisation exists. This work requires follow up.