Seventh annual report EL 8434 Nicker Yuendumu Joint Venture for year ending 17 April 2007

Abstract

EL 8434 'Nicker' is located approximately 400 km northwest of Alice Springs in the Arunta region. EL 8434 is the subject of a Deed for Exploration between the Central Land Council (CLC) and 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. Exploration during the seventh year of term included a total of 10 RAB holes for 560m, to follow up a semi contiguous gold anomaly, which peaked at 44ppb Au at the Whakatipu prospect. Results slightly improved the tenor to a maximum of 81ppb Au and also the continuity of the southern portion of the anomaly.