Third annual report for EL 23655 'Lander', for year ending 11 June 2006

Abstract

Tanami Gold NL identified the potential for quartz-vein-hosted gold mineralisation in the Proterozoic basement rocks of the Reynolds Range area. EL 23655 was granted to Select Resources Pty Ltd (Select) on 12 June 2003 and is being explored by Tanami Exploration NL (TENL), a wholly owned subsidiary of Tanami Gold NL (TGNL), a publicly listed company as part of their Reynolds Range Project under a Joint Venture Agreement. The tenements of the Reynolds Range Project lie in Central Australia centred approximately 225 kilometres north-northwest of Alice Springs. They are situated in the central part of the Aileron Province of the Arunta Region and are covered by the Mount Peake, Napperby, Mount Doreen and Mount Theo 1 : 250,000 Geological Sheets. Exploration on EL 23655 included geological and regolith mapping and interpretation, rock chip sampling, vegetation sampling, lag sampling, RAB drillin, Aircore drilling and SLRC drilling. Significant rock chip results were returned from calcrete at Troutbeck (RRK032) with 71 ppb Au. A value of 2,233 ppb Au from Bowness was a repeat rock chip confirming previous gold mineralisation known from this outcrop. Results of vegetation sampling highlighted detectable concentrations of various metals, including Au. Lag sampling at the Red Hackle Dam anomaly returned a best result of 194 ppb Au.