Report in support of renewal of mineral leases central 292 to 295 inclusive. Nail 34 prospect, Tennant Creek district, Northern Territory

Abstract

A magnetic anomaly, Nail 34, was recognised from an aeromagnetic survey and evaluated by 3 diamond drill holes, 2 holes were abandoned due to excessive deviation whilst the third hole intersected chlorite/disseminated magnetite within a felsic volcaniclastic. The better intercept is 1.22m @ 0.92 g/t Au, 0.41% Cu and 150 ppm Bi. Granting of the Kanttaji Aboriginal Land Trust has resulted in the tenement having been vetoed under the ALRA. Proposed exploration includes gridding, detailed ground magnetics, detailed gravity, bedrock geochemistry and one 250m RC hole for an expenditure of $53000.