Partial Relinquishment Report EL 9529

Abstract

EL 9529 'Turner' forms part of the Winnecke Project and is situated approximately 55 kilometres northeast of Alice Springs. The tenement was granted in May 2002 to Normandy NFM Limited and, pursuant to the terms of an agreement, was transferred ton Tanami Exploration NL (TENL) in June 2002. TENL is a wholly owned subsidiary of Tanami Gold NL (TGNL), a publicly listed company. This report describes exploration carried out on the relinquished portion of EL 9529. During its first year of tenure EL 9529 was the subject of a joint venture agreement between TGNL and Teck Cominco Australia Pty Ltd (Teck) and BHP-Billiton Pty Ltd (BHP). Geodiscovery Pty Ltd managed the exploration for Teck / BHP on the North Wigley Project, incorporating EL 9529. Neither Teck / BHP nor TENL carried out any field exploration on the surrendered tenement portion. EL 9529 was part of regional studies, including an assessment of Landsat and geophysical data. The relinquished tenement area was considered unprospective based on the interpreted geology of high grade metamorphic granitic gneisses of the Arltunga Gneiss complex.