Annual report on EL 24167 Suplejack West to 18 October 2005

Abstract

Suplejack Pty Ltd acquired EL 24167 from the previous holders of the tenement in 11th April 2005. No work had been carried out on the tenement prior to acquisition by Suplejack Pty. Ltd. 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. Previous explorers on the tenement area have been MJ Kidd and various partnerships and JV's between Kidd and P Messenger, Dominion Gold and Acacia Resources. In excess of $5 million had been spent by previous explorers in the region, with only regional scale reconnaissance carried outon the current tenement. Regional work resulted in identification of a small resource at Tregony on EL 23454, 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. Regional geology is in part correlatable with host sequences for the gold deposits at The Granites and Dead Bullock Soak. Major structures thought to control the majority of gold deposits in the Tanami region are present and control gold occurrences within and adjacent to the tenement. Current work carried out by Suplejack has been a review of previous data, identification of a series of conceptual targets, drainage sampling along those targets and soil sampling of some targets. Aerial photography over the tenement was carried out to assist with geological interpretation and logistics. Results of the work carried out have been recognition of the potential of gold mineralised hydrothermal systems in Supplejack Sandstone that have not been previously tested. Prospects identified have been soil (481 samples) and drainage sampled (61 samples) with results showing the presence of significant strike lengths of mineralised fault zone along the Old 8 Mile Fault.