Manbarrum Project Combined Annual Report GR044/09, 25 September 2012 to 24 September 2013 EL 24395, EL 25470, EL 25646, MA 24518, MA 26581

Abstract

The Manbarrum Project (Northern Territory) is located in the north-western part of the Northern Territory, on Legune station, approximately 70km north east of the regional centre of Kununurra. It is owned by Tennant Creek Gold (NT) Pty Ltd, a wholly owned subsidiary of TNG Limited (TNG). The project comprises five exploration titles, covering a 50 kilometre strike length of the SE margin of the Bonaparte Basin. The project experienced a change in management with the signing of a Joint Venture between TNG Ltd and Kimberley Metals Ltd (now KBL Mining Limited) in February 2011. On 21 May 2013 KBL advised TNG that they were electing to cease the agreement and as of that date TNG were required to take on the operation of the licences once again. KBL have managed and operated the licences for the majority of the past two years. KBL undertook a gravity survey comprising 708 gravity stations in north and south of the project area. The data was processed, but has not been interpreted to date. A site audit of access tracks and drillholes was carried out by TNG during 2013. Additional rehabilitation will be undertaken at the beginning of the 2014 field season. TNG have been granted a waiver of the requirement to meet expenditure commitments for each licence in the project area for the forthcoming year of tenure. TNG wish to pursue other options for the operation of the Manbarrum project and will provide the Department with regular updates on progress. All other statutory requirements for the above licences will still be met under the Minerals Titles Act 2010.