Manbarrum Project Third combined annual report EL 24395, EL 25470, EL 25646, A 24518, A 26581

Abstract

The Manbarrum Project is operated by Tennant Creek Gold (NT) Pty Ltd, a wholly owned subsidiary of TNG Limited. The project comprises five exploration titles (EL 24395, EL 25470, EL 25646, A 24518, A2 6581) covering a 50 kilometre strike length of the SE margin of the Bonaparte Basin, where widespread Mississippi Valley Type (MVT) Zinc-Lead-Silver mineralisation has been located. During the period 25 September 2008 to 24 September 2009 work on the Manbarrum Project included reporting and analysis of the results of the regional rock chip sampling programme carried out in 2008, metallurgical testwork (EL 24395), the completion of a four hole diamond drilling programme at the Browns and Sandy Creek Prospects (A 26581 and A 24518), and a data and resource review. An extensive rock chip sampling programme was undertaken in the project area in the middle of 2008. The programme resulted in the definition of two main target areas which have multi mineral potential (Djibitgun and Winchrope Prospects). Iron mineralisation at the Legune Prospect may be able to support a stand alone open-pit mining operation with several open pit mines. Metallurgical testwork of Sandy Creek and also Djibitgin samples was completed at the end of 2008. Three diamond drill holes were drilled at the Browns Prospect and one at Sandy Creek for a total of 809.8m. Analytical results are awaited. The geology of the Sandy Creek Prospect has been described in detail previously, and the drilling at Browns provided a detailed stratigraphic section of the area. Four main styles of lead-zinc mineralisation were identified at Browns and five from the single drill hole at Sandy Creek. A data and resource review was carried out by SRK Consulting on the Manbarrum Project to date.