Roper FE Project EL 24101 Mount Fisher for period 21 August 2007 to 20 April 2008

Abstract

Year 4 activities saw disruption with the company being sold to Citizen International Investments Ltd and all tenements analysed and finally consolidated. The company then centered its efforts to develop the resources using a joint venture partner and several visits have been made by interested companies to Darwin and a visit to China and Japan to promote joint development was made by the author with the NTG delegation in May 2008. Several site visits were made to both EL 24101 and EL 24102 with various interested companies conducting initial survey and taking small grab samples (<5kg) for analysis. One of these companies is expected back in Darwin late July 2008 with a further two companies expressing interest of again revisiting the site for more detailed inspections. CA's have been issued and signed by three organisations and discussions are underway to form a joint venture development agreement with two organisations. A web site of all available documentation has been updated and marketing has focussed in Asia. Several parties have expressed interest and the Board is confident that a joint development partner will be established by late 2008. The Fe contained within the tenements is suitable in some cases for DRO (Direct Shipped Ore) status with the remainder proved suitable for beneficiation with trials achieveing over 63% Fe. The Board of TZE also believe that the area under its control including EL 24101 and EL 24102 shows potential for uranium within the lower lying areas of the tenements. The heavy minerals sampled contains traces of gold and elevated vanadium levels within the ilmenite and titanomagnetite profile. Both are indicators for Westmoreland/Murphy style of uranium deposits. Westmoreland-Murphy-type deposits occur within the lower McArthur Basin succession, on the northern side of the Murphy Inlier, straddling the NT-Queensland border. Production from two small operations in the 1960s totaled 35 t U3O8. The largest known deposits of this type are in Queensland and occur where dolerite dykes cross-cut sandstone. Other styles of this deposit type occur at contacts between rocks of different oxidation states, and appear to have formed by reduction of oxidised uranium-bearing fluids. Small occurrences of uranium mineralisation occur in similar geological settings in Katherine River Group rocks, near the western margin of the McArthur Basin, and appear to have been formed by similar processes. The leases held by TZ Enterprises and its sister company ERD contain over 1600 sq km of dolerite sills. Sills are horizontal magma extrusions and TZE/ERD have the largest accumulation of dolerite sills in the Northern Territory Research is ongoing to evaluate the areas potential using ternary radiometric data available from the Department. Itochu Corporation of Japan are interested in developing a joint venture/farmin agreement with ERD to allow the full development of this tenement and EL 24102 Iron ore resources. They are also interested in the ability of this tenement to host uranium deposits. A field trip in late June was conducted to assess the anomalies using hand held instrumentation identified using NTG coarse ternary and radiometric data sets. The results are currently under analysis and will be combined to form a plan to conduct a detailed radiometric survey later in 2008.