TNG Limited (ASX: TNG)
ASX RELEASE
12
AUGUST 2008
Key New Tenement Granted
Manbarrum Project
Highlights:
- New Key licence granted covering highest priority IP target
- IP anomaly is over 1.4km in strike length with a large significant
chargeable target modelled at approximately 100m below surface.
- Chargeable values are similar to other significant Zn ? Pb ? Ag
deposits already discovered in the area.
- Aboriginal Areas Protection Authority clearance for drilling also
received.
TNG Limited (ASX: TNG ? ?TNG?) is pleased to advise that the Northern
Territory Department of Primary Industry, Fisheries and Mines (DPIFM) has
granted a new key tenement for the Manbarrum Project.
The tenement, Authorisation 26581, overlies a significant portion of the
Browns IP anomaly which the company believes to be one of the highest priority
Mississippi Valley Style (MVT) targets in the Manbarrum project area, (Figure
1).
Authorisation 26581 was applied for in 2007 by Tennant Creek Gold (NT)
Pty Ltd.,(Tennant Creek Gold) a wholly owned subsidiary of TNG Ltd., following
the results of the regional 2007 Induced Polarisation (IP) geophysical survey
which identified a large highly anomalous IP chargeable zone known as the Browns
Prospect, within and adjacent to the western boundary of granted licence
EL24395. As this new licence application area was located within the Northern
Territories ?Reserve for Occupation? (RO) Ministerial
approval was required for the application to proceed. TNG were successful with
this approval in early 2008 and following the normal DPIFM departmental
procedure the licence has now been granted to Tennant Creek Gold for a period
of six years.
Induced Polarisation (IP) data collect in 2006 and 2007, has been
largely successful for the delineation of all mineralisation located at both
the Sandy Creek
and Djibitgun deposits.
The data collected in the regional and detailed 2007 survey was
undertaken using Search Exploration?s proprietary full time series Induced
Polarisation acquisition unit (SSIP16), one the highest powered acquisition
units available and is of excellent quality. Some advantages of collecting full
time series data are that long wavelength telluric noise and SP drift are
easily identified and removed. Additionally the receiver unit has low internal
noise levels enabling the collection with confidence of low amplitude signal
(i.e. 3 to 5 uV levels). The unit has multiple input channels (42) allowing the
simultaneous collection of data to greater dipoles (depth).
The
following equipment and specifications were used to undertake the survey:
Survey
Configuration:
Transmitter (Tx) Dipole (200m)
Receiver (Rx) Dipole (100m)
Station
Interval:
100m or 50m
Number of
receiver dipoles: 8
(?n? levels)
Line
Direction:
East-west traverses, with one North-south traverse
Base
frequency:
0.125 Hertz
Duty Cycle:
50%
Receiver:
Search Exploration Full Time Series Unit SSIP16
Chargeability
Integration: 590msec to 1450msec
Transmitter:
Search Exploration WB50 ? 50 KVa.
Data Co-ordinate Datum:
Data
collected in MGA94 Zone52.
All the interpretation models have been produced using the Zonge Smooth
Model Inversion. This is a robust way of converting the observed pseudo-section
data into resistivity and chargeability models reflecting the geometries and
locations of the anomaly sources.
Interpretation and assessment of the IP results identified a significant
area of chargeability anomalism over the Browns prospect (Figure 2). The core
of the chargeability for the anomaly extends over four traverses for a strike
length of 1400m (8300600n to 8302000n) and with a further lower level
chargeable anomalism recorded on the 3 traverses to the north (8302250n to
8302500n) (Figure 3). The southern end of the chargeability anomaly is
coincident with a low resistivity feature (8300600n). This feature could
represent a fault that controls the southern extension of the chargeability
anomaly (mineralisation), in a coincident setting to the Sandy
Creek anomaly and
mineralisation.
Depth slices shown in Figure 3 reveal the large pod like nature of the
chargeability zones at approximately 100m depth, which is also consistent with
the other mineralised deposits already located at Sandy
Creek and Djibitgun.
TNG welcomes the granting of the licence by the department as the Browns
anomaly is considered one of the highest priority targets for the company in
the area; it is larger than both the Sandy
Creek and Djibitgun IP
anomalies and is of higher tenor.
The company has been unable to drill test this anomaly to date due to
the location of a significant portion of the target outside of the companies
existing licence holding (EL 24395). It will now form one the key targets
to be drilled in the next drilling campaign.
TNG has also received clearance for drilling on the licence area from
the Aboriginal Areas Protection Authority (AAPA) and the company is now
formulating a drill programme, the commencement of which will be dependant on
rig availability.
Yours
faithfully
TNG LTD
Paul Burton
Exploration
Director
The
information in this report that relates to Exploration Results, Mineral
Resources or Ore Reserves is based on information compiled by Paul Burton who
is a Member of The Australasian Institute
of Mining and Metallurgy.
Paul Burton is a Director of TNG Limited and has sufficient experience which is
relevant to the style of mineralisation and type of deposit under consideration
and to the activity which he is undertaking to qualify as a Competent Person as
defined in the 2004 Edition of the ?Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves?. Mr Burton consents to
the inclusion in the report of the matters based on his information in the form
and context in which it appears.
Level 1, 282
Rokeby Road
Subiaco,
Western Australia 6008
PO
Box 1126
Subiaco,
Western Australia 6904
T
+61 8
9327 0900
F
+61 8
9327 0901
www.tngltd.com.au
corporate@tngltd.com.au
Enquiries:
Neil
Biddle
Managing Director
+ 61 (0) 418 915 752
Paul Burton
Exploration Director
+ 61 (0) 8 9327 0918
Nicholas
Read
Read Corporate
+ 61 (0) 419 929 046
Figure 1: Location of A26581.
Figure 2: 150m Chargeability Depth slice
highlighting the extent and amplitude of the Browns Hill chargeable zone. Also
Shown are the IP traverses completed by Search Exploration Services in 2007
(black).
Figure3: Depth Slices, Browns IP anomaly.
READ CORPORATE
Public Relations
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T: (+61-8) 9388-1474
| F: (+61-8) 9388-1472 | E: info@readcorporate.com.au | Web: www.readcorporate.com.au
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