Great Northern Project Annual Report for ML 30232 for the period 3 February 2015 to 2 February 2016

Abstract

The 'Great Northern' was mined in the 1880's. Several shafts on high grade quartz gold reefs were mined to water level. There are also numerous old Chinese eluvial gold diggings in the area. During the late 1980's large areas of the alluvial diggings were bulldozed, detected and stockpiled for treatment by Dale Page et al; however they were not treated and remain on site. It is understood that Western Mining conducted a comprehensive exploration drilling program at the Great Northern in the 1980's but were disappointed with the results. Previous exploration work carried out on ML 30232 has indicated a possible 200,000+ cubic metres of eluvial gravel. A number of panned samples, small scale sluicing and metal detecting recovery of gold nuggets by others have indicated potential economic grades of eluvial gold (approximately .5 grams Au/m3). Commissioning of an elluvial treatment plant occurred in early October, 2011 but because of ongoing problems with the recovery circuit the 1200 tonnes of gravel processed only yielded 180 grams of gold (.24 grams Au/ m3). Due to the loss of a significant extractive mining contract with Boral and a general downturn in the work available for small to medium civil contracting firms the operator, Mining and Civil Services Pty Ltd no longer had sufficient cash flow to progress the Great Northern Project beyond June, 2012. The titleholders NT Gold Pty Ltd and Wally Falko have recently entered into an option and sale agreement for ML 30232 with listed company Monax Mining Limited. Monax undertook the following activities in relation to ML 30232: Desktop studies, Three field trips, General prospecting and a total of 3 rock chip samples collected and assayed.