Final report on SEL 10319 Goat Creek from 23 January 2001 to 10 August 2010

Abstract

SEL 10319 was originally granted to the Central Desert Joint Venture partners - Otter Gold NL (Otter) and Acacia Resources Ltd on the 23rd January 2001. Otter was taken over by Newmont Asia Pacific in 2003. On 30 March 2010 SEL 10319 'Goat Creek was purchased by Tanami NT Pty Ltd (TNT) a wholly owned subsidiary of Tanami Gold NL from Australian Tenement Holdings Pty Ltd (ATH), a wholly owned subsidiary of Newmont Asia Pacific. SEL 10319 is situated some 70km north of the Tanami MineIn the last year of tenure no field activities took place due to the change in owner ship. Exploration during the nine years of tenure on the finally remaining area of the tenement consisted mainly of an IP survey, surface sampling and RAB drilling. The best gold assay value of 23ppb associated with 330ppm As was returned from rock chip sample 655782. At the time of writing this report no data was available for the surface sampling. Elevated gold and arsenic results were returned from the drill program, testing four of the six IP generated drill targets, in the Crusade prospect area. The best gold assay result was 0.358ppm from CRRB0005 and the best arsenic assay result returned was 687ppm in hole CRRB0018. The RAB drilling encountered on average a 5m thick aeolian sands and minor clays cover overlaying the predominately rhyodacite and basalt bedrock lithologies.