Combined annual report for EL 10307, EL 10308 and EL 22846 Mallee Braeden Project

Abstract

In the seventh year of tenure, Tanami conducted further geological review and appraisal of exploration data and prospectivity of Exploration Licences 10307, 10308 and 22846. As described in the 2007 renewal applications, the stratigraphy of the Mallee Breadan area is thought to be either MacFarlane Peak or Nanny Goat Volcanics, which are known to host gold mineralisation elsewhere in the region. The Mallee Breadan project area is considered a conceptual target for gold mineralisation as it is situated on a major structure and at an intersection of anatomising 'horsetail' structures. Due to reduction of exploration budgets during 2008 the planned drilling program did not proceed. It is anticipated that the drilling will take place in mid 2009.