Annual report on EL 23568 Woolgni Project

Abstract

EL 23568 is centred approximately 30 km SSE of Pine Creek NT. The licence is 100% owned by Tennant Creek Gold Limited and comprises an area of 161 square blocks within the Pine Creek Geosyncline. The area is dominated by sedimentary Proterozoic Burrell Creek Formation and Cullen Granite. The area has a history of gold occurrences, earlier drilling intersected, small uneconomic auriferous lodes. However there are no active mines, or economic resources located on the tenement. A small non-JORC resource of 150,000 T @ 2.7 g/t Au has been previously been calculated. Target commodities on this lease include gold, uranium, tungsten, tin and copper. Work completed up to 16 March 2005, includes literature research, geophysical interpretation, structural modeling, drafting and GIS database compilation. Future work will involve reconnaissance and geochemical sampling, based on the results of our desktop studies.