Annual Report EL 28902 Maud Creek Project for period ending 29 March 2016

Abstract

EL 28902 forms the southern portion of the Maud Creek Project held by Newmarket Gold Inc. ('Newmarket') and currently being explored under an earn-in agreement with PNX Metals ('PNX'). The geology of the Project area comprises folded Palaeoproterozoic meta-sedimentary and volcaniclastic sequences. These are unconformably overlain by the Meso- Proterozoic Kombolgie Sandstone, which forms scarps. Flat-lying areas are covered by Cambrian Antrim Plateau basalts and Cambro-Ordovician limestone covers much of southern part of EL 28902. Economically important rock units of the project area comprise greywackes, mudstones and tuffs of the Palaeoproterozoic Tollis Formation. The Maud Dolerite intrudes the Tollis Formation and forms irregular bodies up to 200m in width. The margins of the Maud Dolerite are strongly sheared, with mineralised quartz-filled shear zones. The Tollis Formation hosts the Maud Creek Gold Project on adjacent tenements. During 2015 reporting year, the title was further reduced to 67 sub-blocks from 94 sub-blocks. No exploration activities were undertaken during the reporting period, but work has already commenced for the 2016 reporting year, including magnetic imagery reprocessing and VTEM modelling.