16th January 2008
Tanami Project
The company is please to advise that it has commenced an airborne electromagnetic survey in the Tanami. This survey will cover the unconformity between the Victoria-Burrindudu Basin and the older Tanami Complex rocks below. The company is targeting poly metallic mineralisation associated with this unconformity, such as the world class Coronation Hill deposit (6.7Mt @ 6.42g/t Au, 3.44% U, 1.01g/t Pd, 0.30g/t Pt).The geology at Coronation Hill consists of strongly folded basement rocks of the Pine Creek Inlier, overlain unconformably by unmetamorphosed sediments of the Kombolgie Formation, all cut by the sub-vertical Palette Fault Zone. At Coronation Hill, palladium-platinum-gold mineralisation occurs in structurally controlled lenses in Proterozoic meta-shale and in altered volcanics near the unconformity with overlying Kombolgie Formation sediments. The Browns Range South area is of similar age and rock types and this is viewed as a good exploration model.These styles of deposits have a known alteration envelope mineralogy surrounding the deposits which the airborne electromagnetic survey is designed to define.This survey is expected to take a week to complete and results will be announced once the data has been interpreted by the company’s consulting geophysicist.
Regards,
Alex Bajada
Managing Director
16th January 2008Tanami ProjectThe company is please to advise...
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