EL 25372 Tennant Creek Project Annual report reporting period 21 February 2008 to 20 February 2009

Abstract

This report covers exploration completed on EL 25372 during the reporting period from 21 February 2008 to 20 February 2009. The tenement is within the Warramunga Province of the Tennant Region, and is 37 kms north-west of the town of Tennant Creek. It occupies an area of about 20.6 square kilometres, and forms part of Castile's Tennant Creek Project. EL 25372 lies on the north-eastern edge of the highly productive Tennant Creek mineral field, and is underlain by rocks known to host mineralisation nearby at Warrego, Orlando, Gecko, Argo and North Star. Exploration for the year ending 20 February 2009 included data acquisition, interpretation and report writing. No field work was completed. Previous exploration has been sporadic, and has not covered all of the tenement area. It has, however, demonstrated the presence of distinct magnetic and geochemical anomalies within the tenements area, but these have not been tested by detailed surveys. Future work will assess the known geophysical and geochemical anomalies in EL 25372, and test for underlying mineralisation. With only limited work completed in the tenement area, the potential for deeper targets has not been tested. Work will include modelling of the existing magnetic data and acquisition of additional ground magnetic and gravity data. The known geochemical anomalies will be followed up on the ground.