Annual report on EL 26034 Tennant Creek Project reporting period 25 February 2010 to 24 February 2011

Abstract

Exploration for the year ending 24 February 2011 included continuation of negotiations on the draft heritage agreement with the CLC, flying a helicopter-borne magnetic survey over the tenement, re-logging and sampling of 2 previously unreported diamond drill holes on the tenement, and report writing. Because of the sensitive nature of negotiations in this and other parts of the region, and the discovery of the Rover1 Deposit, Westgold will not commit to ground exploration until the CLC and the Traditional Owners have ratified a heritage agreement for the tenement which allows exploration access on the ground. Consequently no on-ground field work was completed during the year. Previous exploration has been restricted to flying aeromagnetic surveys at various times, the testing of a number of areas by vacuum geochemical drilling to 5m depth, and two diamond drill holes. Ten of the 19 graticular blocks which comprise EL 26034 have not been tested on the ground. Future work planned for EL 26034 will include a detailed interpretation of the new aeromagnetic data, collation of previous results, and defining of targets for follow up. With only limited work completed in the tenement area, the potential for deeper targets has not been tested. The acquisition of additional ground magnetic and gravity data will be an integral part of this work. A minimum budget of $55,000 is planned to complete this work.