Annual report for ML 22934 Groundrush for the year to 13 September 2005

Abstract

ML 22934 was granted to Normandy NFM, now Newmont Tanami Pty. Ltd., on 14 September 2001 and mining in the Groundrush Open pit began on the 15 September 2001 and ceased in late September 2004. Exploration at Groundrush began in 1998 with economic mineralisation being discovered the same year. At the depletion of all stockpiled ore (August 2005) Groundrush had milled 4,923,643 tonnes of ore at an average grade of 3.92g/t for 588,090 ounces (in September 20050. The Groundrush Mine was an integral component of Newmont Mining's Tanami Operations, which also include mining operations at Dead Bullock Soak (MLS 154), Windy Hill (MLS 23283), and the Granites (MLS 8). Ore from Groundrush was trucked approximately 40 km to the Tanami Mill (MLS 153), where approximately 1,208,944 tonnes of ore at a grade of 3.3g/t Au was milled during the reporting period producing 119,338 ounces of gold (Oct-2004 to September 2005). Exploration drilling during the reporting period focused on locating more near surface oxide mineralisation to supplement the Tanami mill. An RC/Diamond drilling program was carried out in order to test the strike and depth extent of the identified high grade vein (HGV). A RAB drilling program was aimed at defining a near surface oxide resource suitable as Tanami Mill feed. Geological activities included structural mapping of the Groundrush Pit and a study of dolerite host rock geochemistry across the lease. This report details the geological activities, drilling programs and associated results. It also summarises exploration expenditure and a submission for best environmental project.