EL 26034 Tennant Creek Project Annual report for the period 25 February 2008 to 24 February 2009

Abstract

This report covers exploration completed on EL 26034 during the reporting period from 25 February 2008 to 24 February 2009. The tenement is within the Warramunga Province of the Tennant Region, and is 55 kms north-west of the town of Tennant Creek. It occupies an area of about 58 square kilometres, and forms part of Castile's Tennant Creek Project. EL 26034 lies on the north-eastern end of the highly productive Tennant Creek mineral field, and is 10 kilometres to the north of the Warrego Mine. Exploration for the year ending 24 February 2009 included data acquisition, interpretation and report writing. No field work was completed. Previous exploration has been restricted to flying aeromagnetic surveys at various times, and the testing of a number of areas by vacuum geochemical drilling to 5m depth. Ten of the 19 graticular blocks which comprise EL 26034 have not been tested on the ground. A new aeromagnetic survey was flown in 2008 by Kevron for NTGS, and this data has not yet been fully interpreted for the delineation of Tennant Creek style copper-gold targets. Future work planned for EL 26034 will include a detailed interpretation of the new aeromagnetic data, collation of previous results, and defining of targets for follow up. With only limited work completed in the tenement area, the potential for deeper targets has not been tested. The acquisition of additional ground magnetic and gravity data will be an integral part of this work.