Final report for EL 25240 Acacia Creek Project for the period 16 November 2006 to 25 February 2009

Abstract

Exploration Licence (EL) 25240 was granted to Glengarry Resources on the 16th of November 2006 for a period of 6 years. The tenement is located 65km south of Darwin and 25km northeast of Batchelor along the Stuart Highway and Alice Springs to Darwin Railway line. The Project encompasses over 140km2 of prospective Proterozoic stratigraphy in the Pine Creek Geosyncline, proximal to the historical Rum Jungle Uranium Mine and the Woodcutters Lead-Zinc Mine. Rum Jungle produced 0.66M tonnes @ 0.43% U3O8 for 3530 tonnes U3O8 between 1954 and 1971. Approximately 6M tonnes @ 12% zinc and 6% lead were mined from the Woodcutters Mine between 1985 and 1999. Production of 17,800 tonnes @ 10.7g/t gold was also mined from three small Sundance pits in 1986 and 1993, located 2.5km east of Batchelor and 12km southwest of the Woodcutters Mine. Exploration undertaken within EL 25240 by Glengarry Resources during the reporting period has consisted of the compilation and review of all historical exploration data, compilation of available regional geophysical datasets and field validation/inspection of reported gold anomalies at Acacia North and a 728m reverse circulation drill program was carried out in late 2008. The purpose of the program was to test the limits of the Acacia North gold anomaly and to constrain a greater understanding on the controls of mineralisation. The highest metre Au intersection was 1m @ 11.2g/t within hole 08ANRC031. An average intersection of 3m @ 4.33g/t was encountered in this same drill hole between 101 and 104m. Significant gold (>0.5g/t Au) drill hole intersections are listed. All single metre assay results are listed. Glengarry was targeting a potentially mineralised corridor between a mafic intrusive and the country sediments. Glengarry successfully intercepted the target but found no significant/ economical mineralisation. Glengarry Resources were unable to justify any further exploration and the tenement was recommended for relinquishment in February 2009.