Eight Annual Report for the Tanami Exploration Agreement for the period 1 January 2012 to 31 December 2012

Abstract

Revitalization of prospectivity analyses for the Tanami Exploration Agreement (TEA) leases occurred in 2012, resulting in the creation of several exploration prospect portfolios. The remainder of the TEA exploration focus for 2012 was solely on Oberon (EL 23662), with significant drilling efforts, data analysis and interpretation, and substantial advancement in the understanding of the deposit. Twenty diamond drillholes (TID0074 to TID0088) were drilled at the Oberon prospect in 2012, including the completion of three diamond drillholes (TID0071 to TID0073), which commenced drilling in 2011. In 2012, the targeting strategy at Oberon focussed on extending the open pit resource vertically and laterally. Further work was recommended including further diamond drilling.