Final report for EL 9803 'Alcoota', from 28 October 2002 to 23 September 2005

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 'Alcoota' formed part of the Alcoota Project. It was granted to TENL on 28 October 2002 and surrendered on 23 September 2005. This report describes exploration carried out by TENL on EL 9803. Exploration consisted of a regional assessment of the Alcoota project including field reconnaissance in November - December 2003. The assessment included a regional review of the topography, geology, metallogeny, MODAT occurrences, previous exploration and aeromagnetics. Aircore drilling (15 holes for 1,327 m) was completed in two areas on EL 9803 to test IOCG targets derived from aeromagnetic and residual gravity images. Drilling was designed to blade refusal in widely spaced lines consisting of up to 5 holes. The best intersection was 7 ppb Au in alluvial clays. Within bedrock the best intersection of 5 ppb Au, which resampled at 1m @ 18 ppb, and is associated with chloritic felsic gneiss.