Partial relinquishment report EL 9804 'Waite River' 28 October 2002 to 27 October 2005 and EL9806 'Delmore Downs' 18 November 2002 to 17 November 2005 'Alcoota project'

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 160 kilometres northeast of Alice Springs in the Arunta region of the North Australian Craton. Access is provided via the Stuart, Plenty and Sandover Highways. EL 9804 and 9806 form part of the Alcoota Project with EL 9804 being granted to TENL on 28 October 2002 and EL 9806 on 18 November 2002. Partial surrenders were completed after the third year of tenure. This report describes the exploration during these three 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 included evaluation of topography, geology, metallogeny, MODAT occurrences, previous exploration and aeromagnetics in conjunction with the field reconnaissance. A total of 8 rockchip samples were taken on the surrendered tenement portions, three from EL 9804 and 5 from EL 9806. Based on the regional assessment and the rockchip sampling it was recommended that considerable portions of both tenements be relinquished. .