Annual report on EL 23492 Suplejack to 11 November 2005

Abstract

Suplejack Pty Ltd acquired EL 23492 from the previous holders of the tenement in October 2004. This report covers work done in the period 12 November 2004 to 11 November 2005. The tenement is located in the Tanami Desert, approximately 650 km northwest of Alice Springs. Access is by the Tanami Road and the Tanami-Lajumanu road to Suplejack Downs station. Access to the tenement is affected by the monsoonal climate with road access restricted during and after the wet season. The tenement is wholly contained within Suplejack Downs station and is approximately 700 metres wide and 30 km long. It fills a gap between EL 23454 and the adjacent tenement to the east outside the boundary to Suplejack Downs Station. Previous explorers on the adjacent tenement area, EL 23454, have been MJ Kidd and various partnerships and JV's between Kidd and P Messenger, Dominion Gold, Acacia Resources and AngloGold. In excess of $5 million had been spent by previous explorers, which resulted in identification of a small resource at Tregony, delineation of a major zone of gold occurrences and identification of a series of untested targets with potential for structurally controlled gold deposits similar to the Groundrush deposit. A substantial regional database also exists for the tenements, which has been used to assist in reinterpretation of potential on the tenement. No work has been carried out previously on EL 23492. Geology is partly equivalent in age with host sequences for the gold deposits at Tanami. Major D5 age structures are thought to control the majority of gold deposits in the Tanami region and major structures of the same age control gold mineralisation within and adjacent to the tenement. Current work carried out by Suplejack has been a review of previous data adjacent to the tenement, identification of major mineralised structures not targeted by previous exploration, sampling of six of soil grids and aerial photography over the entire group of tenements. Results of the work carried out have been identification of low order gold anomalies at all six grids sampled, which targeted fault zones. A revised interpretation of structural control on mineralisation in the Suplejack region has been proposed that will be tested in the 2006 field season. 2 Introduction EL 23454 and EL 23492 were applied for by MJ Kidd and PR Messenger and granted on 11 November 2002. The tenement transfers were completed on 7 October 2004 and are now held by Suplejack Pty Ltd.