Annual Report MLN 880, MLN 881 and MLN 882 GR306 Great Western year ending 15 March 2018

Abstract

There are three mineral leases that make up the Great Western project area: Mineral Lease Northern's (MLN) 880, 881 and 882. The tenements are located approximately 145 km southeast of Darwin (Figure 1-1), and 32 Km east, northeast of the Adelaide River Township. In 2012, Kirkland Lake Gold, (then Crocodile Gold NT Operations) purchased the assets from Australia Consolidated Limited. The tenement group is situated on the Pine Creek Orogen within the Archaean to Palaeoproterozic boundaries. Gold mineralisation within the Pine Creek Orogen is found within the strata of the South Alligator and the lower parts of the Finnis River Group. Greywackes and siltstones from the Burrell Creek formation are also known to host the area. Gold mineralisation within the tenements consists of both quartz veining and stockwork gold, with base metal mineralisation occurring within the major anticlinal axis from the Burrell Creek formation. This type of mineralisation is also found at gold deposits such as Moline, Union Reefs, Esmeralda and the Goodall deposit. A review was undertaken on the Great Western group of leases by Kirkland Lake Gold Inc. that found that the project area did not comply with either the strategic focus of the company or the company's core asset criteria. The area is now viewed as a lower ranked target with limited plans for the future. In October of 2015, Kirkland Lake entered into a purchase agreement with Monax Mining Limited for the sale of the Great Western leases. However, during 2016 Monax Mining Ltd. withdrew the purchase agreement. No work was undertaken on the project area during the reporting period.