Fifth annual report EL 23888 Stafford from the 12 August 2008 to 11 August 2009

Abstract

EL 23888 is explored as part of the Reynolds Range Project area, where Tanami Gold NL identified the potential for quartz-vein-hosted gold mineralisation in the Proterozoic basement rocks. The tenement is managed by Tanami Exploration NL (TENL), a wholly owned subsidiary of Tanami Gold NL (TGNL), a publicly listed company. It was granted to Newmont Australia Pty Ltd (Newmont) on 12 August 2004. On 19 December 2006, EL 23888 was transferred to TENL. In 2008 TENL introduced a third party, Deep Yellow Limited (DYL) to explore the tenement for the potential of uranium mineralisation. EL 23888 lies in Central Australia centred approximately 220 kilometres north-northwest of Alice Springs. It is situated in the central part of the Aileron Province of the Arunta Region. All exploration on EL 23888 during the fifth year of term was carried out by DYL and included field trips and a night time thermal infrared data interpretation. The field trips and the NTIR data interpretation resulted in the identification of two east west trending palaeo-ponds, which do not have apparent direct surface expressions of buried paleochannels.