Annual Report ML 31017 for period ending 27 February 2016

Abstract

Mineral Lease 31017 is located approximately 150 km SSE of Darwin, and roughly 40 kms south east of the Adelaide River Township (Figure 1). ML31017 was granted to Newmarket Gold Inc., on the 30th December 2015 for a period of 10 years and is set to expire on the 29th of December, 2025. The tenement covers 102.61 hectors. ML31017 was recently converted from MCN's 1014, 1015, 1231, 1232, and MLN's 884, 885, 886, 887, 888 and 889. The tenement is situated within the Pine Creek Orogen, a thin succession of a tightly folded sequence associated with Proterozoic rocks, spread over rifted granitic Achaean basement. As this title has only recently been converted, there has been minor activity for this lease. At the start of 2016, three holes were dug on the lease, using the Integrated Tool Carrier (IT) for geotechnical analysis. Two are currently being analysed in Darwin (MWRD 01 and MWRD 02), with results pending. A further 19 waste rock characterization holes were also drilled on the tenement.