Partial relinqusihment report for EL 22924 'Delny', for the period 23rd December 2002 to 22nd December 2003

Abstract

Tanami Exploration NL identified the potential for Tanami-style gold mineralisation, iron oxide coppergold (IOCG) mineralisation and Tennant Creek-style copper-gold mineralisation in the Alcoota region of the northern Arunta Block in 1997 leading to the acquisition of the significant tenement package forming the Alcoota Project. The Alcoota Project lies in the Arunta region of the North Australian Craton approximately 150 kilometres northeast of Alice Springs. Access is provided via the Stuart Highway, Plenty Highway and the Sandover Highway, which crosses the Project area. EL 22922 'Delny' forms part of the Alcoota Project. It was granted on 23 December 2002 to Tanami Exploration NL. A voluntary surrender of 173 blocks was completed after its first year of tenure. This report describes exploration carried out on the surrendered portions of this tenement. Exploration consisted of a regional assessment of the Alcoota project area including a field reconnaissance trip in November - December 2003. The regional review, carried out by Dr. Jim Anderson, included an evaluation of topography, geology, metallogeny, MODAT occurrences, previous exploration and aeromagnetics together with field reconnaissance. No samples were taken on the surrendered tenement portions. Based on the above assessment more than half of the tenement area of EL 22924 was recommended for relinquishment. This ground is either obscured by younger cover of the Waite Formation or quaternary sediments, or occupied by the Mt Swan granite.