Annual exploration report EL 24966 Tennant Creek West for period ending 17 September 2007

Abstract

Work during Year 1 of tenure consisted of a review of both NTGS data, and compilation of significant results from Industry reports. Some geochemical data was georeferenced in MapInfo to outline areas of identified anomalies. Exploration within the Licence over the past 30 years has included Uranerz, ADL, Tennant Creek Joint Venture, North Flinders Mines, Geopeko, GRM and Poseidon Gold. They all have explored for Tennant Creek Au-Cu-Bi style deposits, with forays into base metals and uranium. The most notable feature in EL 24966 is a coincident gravity / magnetic feature in the southern portion of the Licence area. Drilling of this geophysical anomaly near the southern boundary by Giants Reef Mining unexpectedly intersected serpentinites and brecciated mafic / ultramafic rocks.