Annual and final report for EL 8576 Peccadillo 1 from 17 February 1998 to 2 February 2011

Abstract

EL 8576 Peccadillo 1 formed part of the Peccadillo project which compromised EL 8576, EL 8932, EL 8727. EL 8576 is located approximately 650 km northwest of Alice Springs and approximately 50km west of the Tanami Gold Mine. In 1998 EL 8576 was originally granted to Otter Gold NL (Otter) which was taken over by Newmont Asia Pacific (Newmont). Newmont transferred the tenement to its wholly owned subsidiary Australian Tenement Holdings Pty Ltd (ATH). In December 2009, ABM Resources NL (ABM) purchased a group of tenements from ATH including EL 8576. In the thirteenth and last year of tenure no exploration was conducted neither by ATH or ABM due to the change of ownership. Over the thirteen year of tenure exploration was completed by Otter and ATH. It included a geological re-interpretation, surface sampling and Post hole drilling. The minor drilling was completed in 2001. The maximum over all assay result from the drilling was 0.00005 ppm in both holes. The maximum surface sample assay result was 0.018ppm from rock chip sample 456960.