Second annual report for EL 9855 'Epenarra', year ending 3 March 2005

Abstract

EL 9855 'Epenarra' is situated in Central Australia at the boundary of the Tennant Creek Inlier and the Southern Georgina Basin approximately 400 kilometres north- ortheast of Alice Springs. Tanami Gold NL (TGNL) identified the potential in the Epenarra area for both Kurinelli and Tennant Creek-style gold mineralisation. EL 9855 was granted in March 2003 to Tanami Exploration NL (TENL), a wholly owned subsidiary of TGNL, a publicly listed company. This report describes exploration carried out by TENL in its second year of tenure. During the year, vacuum drilling and rockchip sampling was completed within the southern half of the tenement. A total of 8 rockchip samples were taken, returning disappointing assay results with very weak Au and base metal anomalism. A vacuum drilling program was designed to test whether mafic-hosted gold in the Kurinelli Goldfield extends to the southern part of EL 9855. A total of 80 holes were completed for 1398 metres. Initial composite results were disappointing, with the highest values of 3 m @ 28 ppb Au. However, one metre resampling returned encouraging results. providing legitimate targets for future work. Best results were 1 m @ 199ppb Au from 12 m and 1 m @ 128 ppb Au from 15 m in EPV011.