GR345/14 Group Annual Report Central Tanami Project EL 8797, EL 26925, EL 26926, EL 28282, EL 28474 period 28 February 2015 to 27 February 2016

Abstract

The majority of planned exploration within the last year was delayed due to major corporate developments regarding the company's projects in the Tanami. Firstly, in July 2015, ABM Resources signed a 1 year lease agreement for the Coyote processing facility and associated infrastructure, this agreement saw full management of the site assigned to ABM. Secondly, the company's personnel were also heavily focused on finalising the JV agreement with Northern Star Resources for the Central Tanami Project (CTP). This JV came into effect in late August and saw Northern Star take over management of the company's CTP tenure. The combination of these developments led to all major exploration activities being delayed. In addition with these changes came a new management team for the exploration activities of the Central Tanami Project, as such all planned exploration programs required review and approval by Northern Stars Exploration department. As such much of the exploration activities during the year were related to field reconnaissance, prospecting, geological traverses and project evaluation work by NST and Tanami Gold geologists.