Third annual report for EL 8823 Green Swamp Well for the period 8 March 2001 to 7 March 2002

Abstract

EL 8823 is centred approximately 115 km WSW of Tennant Creek and covers an area of 530km2 within NT Portions 2844, Karlantijpa South Aboriginal Land Trust and NT Portion 2845 Karlantijpa North Aboriginal Land Trust. This report details exploration undertaken for the period from 8th of March 2001 to 7th March 2002. Currently the tenement has a low prospectivity ranking as the aerial geophysical survey conducted in 1999 failed to identify any magnetic targets that are suggestive of Tennant Creek style magnetite associated Au-Cu deposits. In addition, preliminary analysis of the data indicates that the Cambrian Wiso Basin cover is in excess of 300m for the majority of the tenement. No ground based exploration activities have been conducted over the tenement during the 8th March 2001 to 7th of March 2002 period. Difficulties getting onto the ground on EL 8823 have arisen due to sensitive access issues in other areas. This reporting period has seen the exploration management of the project transfer from Normandy Tennant Creek Operations to Normandy Gold Exploration Pty Ltd on the 30th of March 2001 and then to Newmont Gold Exploration Pty Ltd on the 1st of March 2002. This centralisation of management will result in considerable savings in operating costs.