Partial relinquishment report for EL 9803 'Alcoota' and EL 9804 'Waite River', 28th October 2002 to 27th October 2004

Abstract

Tanami Exploration NL (TENL) identified the potential for Tanami-style gold, iron oxide copper-gold (IOCG) and Tennant Creek-style copper-gold mineralisation in the Alcoota district of the northern Arunta region in 1997 and acquired a significant tenement package to form the Alcoota Project. TENL is a wholly owned subsidiary of Tanami Gold NL (TGNL), a publicly listed company. The Alcoota Project lies approximately 150 kilometres northeast of Alice Springs in the Arunta region of the North Australian Craton. Access is provided via the Stuart, Plenty and Sandover Highways, all of which cross the Project area. EL 9803 and 9804 form part of the Alcoota Project and were granted to TENL on 28 October 2002. Partial surrenders were completed after the second year of tenure. This report describes the exploration during these two years on the surrendered portions of both tenements. Exploration consisted of a regional assessment of the Alcoota project area, including a field reconnaissance trip in November-December, 2003. The assessment was carried out by Dr. Jim Anderson and included evaluation of topography, geology, metallogeny, MODAT occurrences, previous exploration and aeromagnetics in conjuction with the field reconnaissance. A total of 6 rockchip samples were taken on the surrendered tenement portions, three from each of the surrendered portions of EL 9803 and 9804. Based on the regional assessment and the rockchip sampling it was recommended that considerable portions of both tenements be relinquished.