Second Relinquishment Report for EL 9421 for the period 13 May 1996 to 12 May 2001

Abstract

EL 9421 is being explored for Tennant Creek-style ironstone hosted Au-Cu deposits and auriferous quartz lodes. This work is carried out under a Joint Venture Agreement (Desertex JV) between Normandy Tennant Creek Pty Limited (51.42%) and Anglo Gold Australasia Limited (48.58%), with Normandy Tennant Creek Pty Limited managing and operating the licence. Initial work completed on the relinquished portions of the licence included airborne and geophysical surveys and regolith RAB drilling. This work defined the Archery prospect that was tested with RC drilling. This drilling failed to intersect economic mineralisation and reduced the prospectivity of the licence. Hence the decision was made to relinquish the majority of the licence in April 2001.