Annual report for exploration licence 7521 Tanami Region Northern Territory 15 October 1996 to 14 October 1997

Abstract

WMC Resources Ltd (WMC) has sold its Tanami exploration interests to the Central Desert Joint Venture partners (Otter Gold NL and Acacia Resources Ltd). The sale includes Exploration Licence 7521. Although WMC did not conduct any fieldwork on these tenements during the reporting period, they completed an office-based re-assessment of the results received to date. They concluded that although exploration conditions are difficult, considerable potential remains. The CDIV partners are keen to progress work on this tenement, logistical constraints prevented them from completing any of their proposed work programme and minimal work has been undertaken. Total expenditure on EL 7521 for the period 15 October 1996 to 14 October 1997 was $41,711. An application was lodged with the NTDME on 11/7/97 for the renewal of this licence.