Partial relinquishment report EL 23122 'Krakatoa' from 3 February 2003 to 2 February 2007 and Final report EL 10050 'Millinoaire's Well' from 6 February 2003 to 5 February 2007

Abstract

The Home of Bullion Project lies in Central Australia at the boundary of the Arunta Region and the Southern Georgina Basin, approximately 230 km north of Alice Springs. In 2000, Tanami Gold NL identified the potential for Palaeoproterozoic gold and Neoproterozoic base metal mineralisation at Home of Bullion. EL 23122 'Krakatoa' and EL 10050 'Millionaire's Well' form part of the Home of Bullion Project. Both tenements were granted in February 2003 to Tanami Exploration NL (TENL), a wholly owned subsidiary of Tanami Gold NL (TGNL), a publicly listed company. This report describes exploration carried out on the surrendered portions of both tenements. Exploration consisted of regional reconnaissance including soil and fine lag sampling, No significant elevated gold or base metal values were returned from the reconnaissance sampling. The reported areas were recommended for relinquishment based on lithology, lack of previous mineralisation and negative exploration results.