Final report - EL 23650 Depot Creek Winnecke Project from 11 April 2003 to 26 September 2006

Abstract

EL 23650 'Depot Creek' covers the Winnecke Goldfield, Central Australia, approximately 65 kilometres northeast of Alice Springs. The tenement was granted on 11 April 2003 to 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. The remaining tenement area was surrendered on 26 September 2006. Exploration on the portion of EL 23650 relinquished in September 2006 is the subject of this report. The relinquished tenement area is interpreted to be underlain by Cadney Metamorphics. Geo Discovery Group Pty Ltd (Geodiscovery) on behalf of BHP Billiton / Teck Cominco Australia Pty Ltd (Teck) completed geochemical sampling (9 rock chip samples) together with two ground magnetic traverses. No significant base metal anomalism was detected. TENL completed an assessment of previous exploration, regional geological mapping and geochemical sampling. Rock chip sampling in 2003 at the Glancroil workings on EL 23650 'Depot Creek' returned significant results with values up to 5.8 ppm Au. In 2004 a stratigraphic traverse with rock chip sampling (3 samples) across the western part of EL 23650 'Depot Creek' returned no elevated gold results.