Final report on EL 23122 Krakatoa, 3 February 2003 to 20 December 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' was part of the Home of Bullion Project. The tenement was 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 final area of the tenement after the required relinquishments. Exploration consisted of regional reconnaissance including 39 rock chips and 126 fine lag samples. No significant elevated gold or base metal values were returned from the reconnaissance sampling. The best gold assay value returned was 193ppb from rock chip sample HBK 141 taken of a haematitic quartz vein. The tenement was relinquished based on lithology, lack of previously identified mineralisation and negative exploration results.