Group Annual Report GR160-10 EL 9763, 10355, 10411, 22229, 22378, 23342 Cave Hill Project from 24 July 2014 to 23 July 2015

Abstract

Exploration Licences 9763, 10355, 10411, 22229, 22378 and 23342 form the Cave Hill Project, which is located approximately 650 km northwest of Alice Springs (Figure 1). On 30 March 2010, Tanami (NT) Pty Ltd (TNT), a wholly owned subsidiary of Tanami Gold NL, purchased the tenements from Otter Gold NL (Otter) a wholly owned subsidiary of Newmont Asia Pacific. TNT is exploring the project area for gold. In 2015 Tanami Gold entered a JV agreement with Northern Star over the Central Tanami Project, which includes the Cave Hill Project. Results from the 2013 surface sampling program highlighted broad low level gold anomalies within EL 22229 and EL 23342 in an area interpreted to contain significant overburden. As a result an Aircore drilling program was designed to identify the origins of this the anomaly, this drilling has now been completed. In the reporting year ending 23 July 2015, 108 vertical Aircore holes totalling 3,424 meters were drilled over broad surface soil Au anomaly on EL 22229 and EL 23342. Amygdaloidal basalts similar to those observed elsewhere in the Mount Charles formation were encountered. No quartz veining or alteration was observed and no Au mineralisation was intersected. Only limited on ground work was undertaken at EL 22378, EL 10355, EL 10411, EL 9763 for the year ending July 2015. Due to the wetlands and a focus on other tenements of the Cave Hill project, only reconnaissance work was undertaken at these tenements for identifying potential targets for the 2015 exploration campaign. A desktop study of prospectivity of Cave Hill project tenements was also undertaken during this term activities.