Annual Report for MLCs 48, 66, 67, 176, 177 and MCCs 55, 57, 798, 801, 809, 522-524, 461 period 26 March 1999 to 25 March 2000 Camelot Central JV2 Reporting Group

Abstract

This report details work completed on MLC's and MCC's of the Tennant Creek West Group that are subject to the Central Joint Venture 2 Agreement. Since 1995, Normandy has explored the tenements for ironstone hosted Au/Cu/Bi mineralisation within the Proterozoic Warramunga Formation. Work conducted on the tenements during the reporting period has included an airborne TDEM survey over the 'Extension', 'Chariot' and 'Monduese' prospects, and RC and diamond drilling at 'Chariot' (previously called 'Chardonnay') and 'Trident' (previously called 'Traminer') prospects. Initial interpretation of the geophysical survey has not highlighted any new targets. The first RC and diamond drilling programme at 'Chariot' delineated a 2-11m thick steeply deeping gold mineralised haematite-magnetite-chlorite ironstone. This Main Zone mineralisation has an average strike of 120 m, extends from 80m depth to below 300m, has a near vertical plunge and dips at 70-90 degrees to the north. The best assays are 14m at 66.2 g/t Au from 198m, and 10m at 12.0 g/t Au from 146m. The second drilling programme infilled the Main Zone resource and indicated that there are definite high and low grade portions in the resource. The best assays are 14.9m at 37.0 g/t from 109.8m, 12.5m at 21.3 g/t Au from 103m, and 13.8m at 12.3 g/t Au from 135m. Drilling at 'Trident' targeted the ironstones at Explorers 4 and 3, the newly discovered Northern Lode. Intersections to date are sub-economic; 5m at 0.22g/t Au, 0.60 % Cu, 0.54 % Pb, 1.55 % Zn from 176m and 3.8m at 0.05g/t Au, 0.27 Cu, 230 ppm Bi from 217.1m.