Partial relinquishment report on EL 22924 Delny, for the period ended 22 December 2007

Abstract

The fifth anniversary of EL 22924 occurred on 23 December 2007. At this time the area was reduced by 36 blocks; 74 blocks were retained and a partial waiver of reduction requested for the additional 19 blocks. Tanami Exploration NL (TENL) has not conducted any field work over the relinquished portion. Work has been limited to desktop studies. During the fifth year of tenure TENL negotiated the terms of a joint venture with Mithril Resources Ltd (Mithril) who are now exploring and contributing to expenditure on Exploration Licence 22924 (in addition to Exploration Licence 24454). The joint venture proposal was signed on 13 April 2007. As at the anniversary date in December 2007, Mithril had not carried out any field work on EL 22924.