Fourth annual report EL 8434 Nicker Yuendumu Joint Venture for the year ending 17 April 2004

Abstract

Exploration Licence 8434 'Nicker' in the Arunta Region is the subject of a Deed for Exploration between the Central Land Council (CLC) and the Yuendumu Mining Company NL (YMC), signed on 3 August 1996. On 29 September 1999 Tanami Exploration NL (TENL), a wholly owned subsidiary of Tanami Gold NL, entered into a Joint Venture agreement with YMC covering EL 8434 together with the Saxby tenements EL 8306, EL 8962 and EL 8966. This report summarises exploration carried out by TENL on EL 8434 during 2003 and is mainly based on English and Anderson, 2004. Between August and September 2003, two phases of RAB drilling were completed for 188 holes and 8118m. In October and November the exploration focus turned to surface geochemistry. A total of 411 lag, 145 rock chip and 49 soil samples ware collected and assayed for a multi-element suite. An anomalous corridor of 2.5 kilometres length was outlined; the Dodger Prospect. Best assay results include 8.7g-t Au from a rock chip sample and 686ppb Au from a lag sample. Seven additional +0.5g-t Au rock chips over 200m strike length .