Annual report EL 26033 Tennant Creek project, 13 February 2011 to 12 February 2012

Abstract

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 2012 included continuation of negotiations for a heritage agreement over the tenement. Also reprocessing of detailed helicopter-borne aeromagnetic survey in the tenement in light of recent drilling results by Emmerson Resources and potentially a new style of mineralisation within the Tennant Creek region, review of historic data and report writing. No on-ground field work was completed as the company has agreed with the Central Land Council not to undertake ground disturbing activities until a heritage agreement is finalised. Future work will assess the potential for a new style of mineralisation away from the typical magnetic targets which may yield shallower targets than the deeper seated magnetic target. Proposed work activities being assessed include ground IP and helicopter-borne EM surveys and if considered warranted.