Exploration Licences 8845, 8846 and 9474 combined annual report Northeastern Tanami Project

Abstract

In the seventh year of tenure Tanami Exploration NL (TENL) undertook further geological interpretation and targeting of Exploration Licences 8845 and 9474. This followed on from a field reconnaissance trip completed in Year 6 which included an assessment of previous drilling spoil and regolith geology over the tenements. In conjunction with a regional geological re-interpretation of the entire eastern Tanami Province, new targets have identified on ELs 8845 and 9747 and a drilling proposal is included within the 2008 field exploration program and budget. Exploration Licence 8846 is to be transferred to Deep Yellow Limited (DYL). The transfer is pending a prior transfer from AngloGold Ashanti Australia Limited (AngloGold) to TENL; which has been delayed due to execution of a Deed of Covenant between TENL, AngloGold and the Central Land Council. Due to this delay no field work has been carried out on EL 8846 by either TENL or DYL.