Partial relinquishment report for EL 23630 Golden Goose 5 March 2003 to 4 March 2006

Abstract

EL 23630 'Golden Goose' covers the Winnecke Goldfield, Central Australia, approximately 60 kilometres northeast of Alice Springs. The tenement was granted on 5 March 2003 to joint holders Imperial Granite and Minerals Pty. Ltd. (IGM) and Tennant Creek Gold Pty. Ltd. (TCG) and has been explored since 2003 under an option agreement by Tanami Exploration NL (TENL), a wholly owned subsidiary of Tanami Gold NL (TGNL), a publicly listed company. After three years of tenure the tenement was reduced in size pursuant to the requirements of section 26 of the NT Mining Act. Exploration on the portion of EL 23630 relinquished in March 2006 is the subject of this report. A considerable amount of previous exploration has been carried out on the tenement area, among others by Tanami Gold NL under EL 8164 from 1998 to 2001. Exploration in the surrendered tenement area included an assessment of previous exploration, regional geological mapping and geochemical sampling. A total of 28 rock chip samples and 72 lag samples were taken mainly from the northwestern surrendered tenement area. No elevated gold values were returned from the area of the Glancroil workings and previous anomalies by Geodiscovery could not be repeated. Lag sampling over the Pinnacles Shear zone returned only low gold and base metal values, while three of four rock chip samples taken in the same area returned anomalous gold readings up to 72 ppb Au.