Fourth annual report for EL 9887 and EL 10405, Mount Solitary JV

Abstract

Exploration Licences 9887 & 10405 have been part of the Mt Solitary Joint Venture between Tanami Gold NL and St Barbara Limited (purchased from the Administrators of Sons of Gwalia on 28 March 2005), with Tanami managing exploration within the licence areas. Tanami withdrew from the HV on 21 February 2007. EL 10405 was noted to contain potential remnants of Ledan Schist, the host rock to lode-style gold mineralisation at the Wapiti prospect located 15km northwest of the tenement. Further aeromagnetic interpretationsuggested the Ledan Schist occurred mainly to the east of EL 10405 and field reconnaissance in August 2006 verified that none of the basement outcropping on EL 10405 is Ledan Schist (being granite and gniess). EL 9887 contains an aeromagnetic target interpreted to be magnetic aureole to an intrusive body. The target has been previously drilled by BHP in 1984, which intersected sulphides in weathered gneissic basement under 90+ metres of alluvial cover. Weakly elevated base metal assays were noted. 1 August 2006 Tanami geologists tried to locate drill spoil for possible geochemical or petrological appraisal of the target; however no trace of the drill hole was located.