Partial relinquishment report EL 8434 'Nicker' Yuendumu Joint Venture

Abstract

EL 8434 'Nicker' is located approximately 400 kilometres WNW of Alice Springs in the Arunta Region. The licence is the subject of a Deed for Exploration between the Central Land Council (CLC) and the Yuendumu Mining Company NL (YMC), signed on 3 August 1996. On 29 September 1999 Tanami Exploration NL (TENL), a wholly owned subsidiary of Tanami Gold NL, entered into a Joint Venture agreement with YMC. EL 8434 was granted in April 2000 and a partial relinquishment was completed in April 2002. A second partial relinquishment was completed in April 2004 and exploration carried out on the relinquished area is the subject of this report. The majority of the tenement area is covered by aeolian and sheetwash sand and silt. Exploration targeted structurally controlled metasedimentary hosted gold mineralisation of similar style to the Tanami - Granites deposits. Exploration included geochemical sampling and regional and follow up RAB drilling. Two RAB holes, 132 lag samples and 32 rock chip samples fall within the relinquished area.