4th Annual report for the Tanami Exploration Agreement for the period 1 January 2008 to 31 December 2008 TEA Project

Abstract

Work in the period was focused on a re-assessment of the prospectivity of the Callie district. Following unfavourable outcomes from the TaRF Study in the period 2005 through 2007, the prospectivity of Newmont's Tanami ground holdings was written down. Extensive review of available datasets has lead to development of a district geological model which indicates scope for additional mineralised systems within the TEA ground holding; albeit at moderate depths. Exploration expenditure also included completion of a sterilisation drilling program ahead of a proposed new village situated east of Mount Majestic (NE of Callie), ground checking of historic drillholes (of which 10% required rehabilitation) and completion of a waterbore drilling program south of the MLS 8. Drill cuttings from this work will be utilised in the coming period to further assess the exploration potential of this area based on stratigraphic affinities. It is recommended that further work be conducted within the TEA, initially comprising drill validation of the model developed in 2008. Favourable results would necessitate increased drilling focus in 2010 - 2011.