Fourth annual report for EL 23630 Golden Goose year ending 4 March 2007

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 jointholders Imperial Granite and Minerals Pty. Ltd. (IGM) and Tennant Creek Gold Pty. Ltd. (TCG) and was explored in 2003 under an option agreement by Tanami Gold NL (TGNL). . TGNL withdrew from the option in December 2006. A considerable amount of previous exploration has been carried out on the Tenement area, including Tanami Gold NL among others, under EL8164 from 1998 to 2001. Exploration in Year Four of EL 23630 continued with an evaluation of previous exploration conducted by Normandy NFM Ltd ('Normandy') during the 1990s, leading to subsequent follow-up of rock chip, soil and stream sediment anomalies identified from Normandy's work. A total of 25 rock chip samples were taken at prospects identified by Normandy, and 72 lag samples were collected over the Pinnacles Shear Zone. Rock chip sampling from the Patsy Bore area returned a best value of 649 ppb Au and a 1m composite sample from the Sliding Rock area returned 23.7 g/t Au associated with goethitic quartz veins. Rock chip results from the Pinnacles Shear Zone returned a best result of 72 ppb Au, however only low gold and base metal values were returned from the lag sampling. TGNL after a full review of the results from their limited field work, and due to budgetary constraints, elected to withdraw in December 2006. Tennant Creek Gold Ltd., consider the area to be underexplored by TGNL and that the area continues to hold significant potential for shear hosted gold mineralization.