Final Report EL 8994 Rover Project Reporting Period 8 March 1999 to 7 March 2009

Abstract

This report details exploration work completed on EL8994 in the period 8 March 1999 to 7 March 2009. The tenement is located in the Rover Field, and is located approximately 100km west-southwest of the Tennant Creek township within aboriginal freehold lands of the Karlantijpa South Land Trust and the Karlantijpa North Land Trust. Previous exploration over the area later covered by EL 8994 was carried out by Geopeko between 1971 and 1982, resulting in the location of two zones of mineralisation associated with iron oxide deposits in rocks of the Warramunga Formation. EL 8994 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. EL 8994 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'. All exploration in the region had been interrupted in 1982 when land ownership reverted back to the local traditional aboriginal owners. Unfortunately, no in-ground work was completed by the JV owners and it was not until 2006, that Westgold successfully completed the initial follow-up drilling at the Explorer 108 and 142 prospects within EL 8994. Work completed over EL 8994 includes the flying of a regional aeromagnetic survey and aerial photography, a helicopter-borne detailed magnetic survey over the main magnetic anomalies, detailed ground-gravity surveys, and diamond drilling of two of the main prospects. Excellent results have been achieved by this work, including the definition of a lead-zinc resource at Explorer 108, and significant iron oxide-related copper mineralisation at Explorer 142. Additional highly prospective magnetic/gravity anomalies are known within the tenement, offering wide scope for the location of more mineralised zones in the Rover Field. EL 8994 reached its expiry date on 7 March 2009 and considering the very high prospectivity of the tenement and the success of exploration to date, the area covered by EL 8994 and its neighbour to the east EL 8823 was re-applied for as SEL 27039.