Tennant Creek Project Annual Report for the period 4 February 2013 to 3 February 2014 GR150

Abstract

This combined report describes activities by Prosperity Resources (Tennant Creek) Pty Ltd related to ELs 23738, 23818, 23828, 23846, 23890, 23895, 24158 as part of its Tennant Creek Project between the 4th February 2013 and 3rd February 2014. The project area is located approximately 800 kilometres south of Darwin in the Tennant Creek Goldfield and lie close to the town of Tennant Creek. During the reporting period tight budgetary constraints limited activities on all licences held in the Tennant Creek Project area. Assessment planning was initiated to conduct limited field review of specific geological and geophysical targets within the respective licences but ultimately no field work was undertaken. During the reporting period no discussions on access permits and public consultation requirements for exploration with relevant government departments and Aboriginal land holders were undertaken. The Tennant Creek Gold Field appears fundamentally structurally controlled (D2 or later) within contact skarn-thermal metamorphic halo marginal to co deformational or later intrusive porphyritic intrusive dykes and related granite bodies. The more favourable target sites tend to be the more complex structural zones, where a variety of anomaly-types form in closely spaced clusters where there has been likely been higher rates of fluid flow. The presence of weathered and possibly hematitic ironstone or magnetite alteration (in areas of higher temperature and reduced fluids) are positive criteria. Prosperity's licences in the Tennant Creek region have a number of inadequately explored targets that require additional assessment. Mapping, soil and rock chip sampling supported by detailed ground magnetic surveying is proposed as the most cost effective of defining sites for drill testing.