Group Annual Report MLS 119 to MLS 133, MLS 153, MLS 167, MLS 168 and MLS 180 Central Tanami Project GR26/09 from 1 January 2013 to 31 December 2013

Abstract

Aircore drilling of treatment tailings in the tailings storage area and backfilled Bumper and Bouncer pits was undertaken during 2012 for engineering studies. On the completion of these studies in 2013, these holes were assayed to determine the potential for economic tailings retreatment. Samples were 3m composites and submitted to Intertek Genalysis for gold only analysis by fire assay. There were no significant results. Drilling site rehabilitation of the 2012 RC drilling programs at Southern and Beaver Creek pits was completed. During 2012 the results of RC drilling at Southern pit showed some inconsistences with existing geological and resource models. A review and geological re-modelling of the Southern deposit commenced in 2013 but was incomplete when exploration was suspended in April 2013. During 2012 RC drilling at Beaver Creek deposit, a new significantly mineralised zone to the south of the existing pit was discovered. A review and geological modelling commenced in 2013 but was incomplete when exploration was suspended in April 2013. This was intended to be expanded to other pits in MLS 180, as this tenement is relatively unexplored compared to other tenements within the project area. Further work continued on the Central Tanami Project Definitive Feasibility Study, including mining feasibility of the Southern and Beaver Creek deposits, which was completed in May 2013. At this time these deposits could not be included in the final feasibility. Due to prevailing economic conditions a decision on the feasibility study was deferred indefinitely in April 2013 and exploration work was also suspended. There is no economic resource in the historic treatment tailings. Further work on the Southern and Beaver Creek deposits is required for these to be included in a future re-configured feasibility study. With the deferral of a decision on the feasibility study and ceasing of exploration work in April 2013 it is uncertain when significant exploration will re-commence.