EL 25372 Tennant Creek Project Annual report reporting period 21 February 2009 to 20 February 2010

Abstract

This report covers exploration completed on EL 25372 during the reporting period from 21 February 2009 to 20 February 2010. 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 19.5 square kilometres, and forms part of Westgold'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 2010 included the flying of high-resolution aerial photography over the tenement and report writing. In addition, discussions were held with the CLC regarding an exploration agreement with the Traditional Owners. It is considered prudent to defer on-ground work until an agreement is finalised, and no field work was completed during the period. 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. The recently acquired aerial photography will form an accurate base to 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. A minimum budget of $13,500 is planned to complete this work.