Final Report EL 8823 Rover Project Reporting Period 8 March 1999 to 7 March 2009

Abstract

This report details exploration work completed on EL 8823 in the period 8 March 1999 to 7 March 2009. EL 8823 forms part of Castile Resources' Rover Project, and is located 110km west-southwest of the Tennant Creek township within aboriginal freehold lands of the Karlantijpa South Land Trust and the Karlantijpa North Land Trust. EL 8823 was initially granted to Normandy Tennant Creek Pty Ltd on 8 March 1999 following the signing of the Babylon Terms and Conditions for Exploration with the Central Lands Council on 8 December 1998. The tenement formed part of a joint venture (JV) between Normandy and AngloGold Ashanti Australia. This JV was terminated in 2005 with AngloGold retaining 100% interest in the tenement. Subsequently the tenement was sold and eventually became owned by Castile Resources Pty Ltd, a wholly owned subsidiary of Westgold Resources Limited, with AngloGold retaining an 'option to joint venture'. Exploration in the region had been interrupted in 1982 when land ownership reverted back to the local traditional aboriginal owners. Unfortunately, no on-ground work was completed by the JV owners and it was not until 2006, that Westgold successfully negotiated access to continue exploration in EL 8823. Work completed on the tenement includes aerial magnetic surveys and ground gravity surveys. The results of these surveys suggest that the IOCG-mineralised Warramunga Formation intersected on the adjoining tenement to the east extends beneath EL 8823. Preliminary depth modelling shows that the Proterozoic sequence lies at depth beneath the Wiso Basin cover, and targets similar in response to the known Cu-Au mineralised magnetite bodies on adjacent tenements have been located. Additional modelling and possible infill geophysical surveys will be used to more clearly define drill targets. EL 8823 reached its expiry date on 7 March 2009, and considering the very high prospectivity of the region, the presence of strongly mineralised ironstones on the adjoining EL 8994, and the positive indications from geophysical exploration, the area covered by EL 8823 and its neighbour to the west EL 8994 was re-applied for as SEL 27039.