Annual Report ML 23812 Spring Hill for the period 16 January 2014 to 15 January 2015

Abstract

ML 23812 which covers the historic Spring Hill gold mining centre was previously held by Tennant Creek Gold (NT) Pty Ltd until it was acquired by Western Desert Resources Ltd in July 2007. In mid- 2011 WDR Gold entered into a JV agreement with TM Gold (a subsidiary of Thor Mining PLC). TM Gold has now earned the right to 80 per cent share in the project. ML 23812 encompasses a published JORC compliant Indicated resource of 379,000 ounces of gold within 9.5 million tonnes at a concentration of 1.24 grams per tonne gold at a one gram per tonne gold cut-off grade. Using sample generated in the 2013 RC drill program a screenfire assay program and combined gravity and leach metallurgical test program were conducted. The results of these programs indicate a significant proportion of the Spring Hill gold is coarse grained and recoverably by gravity techniques. The programs also highlighted a significant upgrade in gold values when coarse gold analytical techniques are implemented.