Annual exploration report EL 24966 Tennant Creek West for period ending 17 September 2010

Abstract

Exploration for year 4 involved RC and diamond drilling under a joint venture with Panoramic Resources. Drilling in 2009 (3 holes) was completed as part of the NT governments drilling collaborations which was awarded to TUC in 2009. A total of 6 holes (1 RC, 5 Diamond) were drilled for 2,980m (1,045m RC/precollar and 1,935m diamond) testing iron oxide copper gold (IOCG) geophysical targets. Drilling intersected intermediate volcanics and volcanoclastic sediments, high magnesian basalts and ultramafic intrusives. A total of 745 samples (1,178 to date) were taken during the year, 10 of which were submitted for whole rock analysis. Also seventeen core samples were selected for petrographic analysis. No significant results were returned although weakly anomalous gold, nickel and copper was noted in some holes.