Annual Report for EL 8766 for the period 10 October 2006 to 9 October 2007 Lander River JV

Abstract

This report is the annual report for the Lander River tenement EL 8766 and, as such, describes the exploration activity pertaining to all exploration on the licence from the 10th of October 2006 to the 9th of October 2007. The tenements are part of an area covered by the Lander River Joint Venture (LRJV) between Newmont Gold Exploration Pty Ltd (Newmont) who are managers of the joint venture and Yuendumu Mining Company NL (YMC). The tenement is located approximately 350km NNW of Alice Springs, and is being explored for economic gold mineralisation. The first year of exploration was largely reconnaissance hence the wide spaced RAB holes along access tracks, regolith mapping, surface sampling, gravity and aerial magnetic surveys. The focus of that work has been the TAN16 target in the northwest identified during the Tanami framework study. More detailed exploration was conducted around Waldrons Hill following up the historical rock chip numbers and diggings. The tenement was included in Newmont's Tanami Regional Framework study which highlighted the prospectivity of the area. A detailed helicopter borne gravity survey was conducted in late 2006 and a 100m line spacing airmag survey was completed over portions of the area in July 2007.