Central Desert joint Venture, Otter Gold, Anglogold Australia, Tanami region NT. 7th Annual report , 13th October 2003 to 12th October 2004, The Coomarie Agreement

Abstract

Exploration Licenses (EL) 7799, 7803, 7837 and 8479 were granted to the Central Desert Joint Venture partners (Otter Gold NL 60% and Acacia Resources Ltd {now Anglogold Australia} 40%) on October 13th 1997. The four exploration licenses are subject to a Deed (Coomarie) between the CDJV and the Traditional Owners executed 01/08/97. The Coomarie tenement group comprises a significant proportion of the Granites- Tanami Province. The tenements are viewed as a single project and exploration efforts have primarily focussed upon generating targets. To date work programmes have constituted data compilation, airborne surveying, regional soil sampling and posthole drilling to define aircore targets. Three fences of aircore were completed to test the existing anomalism. Work during the 7th year of tenure involved a review of the exploration potential for the Licences to budget work for the 2004-2005 field season. EL7803 had drilling planned but this was put on hold after funding was cut by Anglogold.