EL 26033 Tennant Creek Project Annual report 13 February 2009 to 12 February 2010

Abstract

This report covers exploration completed on EL 26033 during the reporting period from 13 February 2009 to 12 February 2010. The tenement is within the Warramunga Province of the Tennant Region, and is only 5 kms east of the town of Tennant Creek. It occupies an area of about 1 square kilometre, and forms part of Castile's Tennant Creek Project. EL 26033 lies centrally within the highly productive Tennant Creek mineral field, and is underlain by rocks known to host mineralisation nearby at Peko, Nobles Nob and Argo. Exploration for the year ending 12 February 2009 included the negotiation of a draft Exploration Agreement and report writing. No field work was completed. It was considered prudent to suspend work on the ground until such time as an agreement is finalised. Future work will assess the potential for deeper targets within the tenement area as the near surface assessment is considered low potential. Work will include modelling of the existing magnetic data and if warranted further gravity data will be considered for acquisition. A minimum budget of $10,000 is recommended subject to positive assessment of existing magnetic data.