Second annual report for EL 10050, EL 10051 and EL 23122 Home of Bullion Project for year ending 5 February 2005

Abstract

Tanami Gold NL identified the potential for Palaeoproterozoic gold mineralisation and Neoproterozoic base metals mineralisation in the Home of Bullion region of Central Australia in 1998. The tenements of the Home of Bullion Project are situated in Central Australia at the boundary of the Arunta Region and the Southern Georgina Basin approximately 230 kilometres north of Alice Springs. The Home of Bullion Project currently comprises three Exploration Licences in their second year of tenure. They were all granted in the period between 3 and 6 February 2003 to Tanami Exploration NL (TENL), a wholly owned subsidiary of Tanami Gold NL (TGNL). This report describes the exploration carried out on these three tenements for the year ending 5 February 2005. Exploration consisted of a database review to correctly identify the position of gold anomalies delineated by Normandy in the 1990s. Following this review, regional reconnaissance including rockchip sampling at the Wapiti Prospect, was undertaken. Best results were 98 ppb Au in HBK135 and 67 ppb Au in HBK128. Follow up RAB drilling is planned to test the Wapiti area. A Work Area Programme was submitted to the CLC in June 2004.