EL 25372 Tennant Creek Project Annual report reporting period 21 February 2010 to 20 February 2011

Abstract

Exploration for the year ending 20 February 2011 included the flying of helicopter-borne magnetic surveys over the tenement and report writing. In addition, discussions continued with the CLC concerning the draft exploration agreement with the Traditional Owners. It is considered prudent to defer on-ground work until this agreement is finalised, and no on-ground 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 tenement area which have not been tested by detailed surveys. The recently acquired helicopter-borne magnetic survey will be modelled and the anomalies will be ranked, together with anomalies on Westgold's other tenements in the region, to prioritise targets for follow-up drilling. The known historical geochemical anomalies will be followed up on the ground. A minimum budget of $56,000 is planned to complete this work.