Second Annual Report EL 31423 for the period 2 November 2017 to 1 November 2018 Mount Bundey Project

Abstract

Exploration work during the second year of EL 31423 has been basically a continuation of the work commenced in the first year, and on earlier ELs. The previous work included establishment of a GIS database incorporating some past work, brief mapping of lithologies, alteration and mineralisation in the quarry, the collection, description and assay of various quarry products and examples of mineralised materials in and around the quarry. Mapping showed that that the Mt Bundey Igneous Complex comprises more intrusive phases than have been previously recognised and now includes equigranular and porphyritic syenite, quartz syenite, quartz monzonite, monzogranite, pegmatite, trachyte, and lamprophyre. The alkalic nature of the intrusive suite and the overall equigranular phaneritic to porphyritic nature of most of these rocks suggested that this complex may be assigned to the alkali group of porphyries. Significant work in the previous term of the EL was directed at the evaluation of the potential of the Igneous Complex to host alkali- porphyry style copper deposits. A major review of the petrography of the Mount Bundey intrusive complex was undertaken by Dr Anthony Crawford of Hobart, an expert on Porphyry Copper mineral systems. The study found little evidence of the alteration zoning that accompanies Porphyry Copper systems and concluded that the potential for Porphyry Copper type deposits at depth beneath the quarry was low. The Crawford review is a thorough evaluation of this potential. As a result, further exploration work has been directed at the styles of mineralisation known to occur in the surrounding district. These include iron ore, gold, and base metal mineral deposits. A programme to evaluate these within the EL has progressed, involving a further compilation of past geophysical, geochemical, and drilling data to generate a work programme to establish targets for further exploration. As a result of the additional study of past work in the district during the term, the holders applied for ELs31906 and 31907, to the immediate north and south respectively of EL 31423. These fall partly on land that is included in an expanded Mary River Park. Given the high potential for Second Annual Report, EL 31423 Mount Bundey 2 mineral deposits in these areas and the difficult economic circumstances of the NT it is important to establish whether economic mineral deposits can be located on these relatively unexplored areas by low impact exploration. In the period under review, regular monitoring of the geochemical content of quarry product on a nominal monthly basis was continued, as well as a reconnaissance study of the metal content of veins encountered in and around the quarry, familiarisation with the geological setting, and inspection of an area of the EL on Annaburroo Station that has been selected for more detailed exploration during 2019.