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Jul 2002 - Tanami Gold

Tanami Gold NL (TAM) – Bringing Prospects into Fruition in Elephant Country

  • Tanami Gold are first and foremost a gold company, focusing on gold with the view that should base metal prospects emerge within their tenements, then TAM may consider possible joint ventures or other options to fund or divest such assets. TAM does not intend to use their gold assets to finance diversification into base metal assets.
  • Over the past 8 years, Tanami Gold has built up a tenement package of 64,000sq km focused in 4 regions of the Tanami-Arunta Province (essentially all within the Northern Territory), which has become the envy of virtually all the world’s major resource companies as they have gradually realised that the NT is “elephant country”.
  • The NT has become elephant country partly because it was classified as too hard to explore in and its restrictions on mining and royalties were regarded as archaic and insurmountable. Whereas, TAM has shown that they are not insurmountable, and more importantly there are structures on a mega scale that cause geologists to salivate, and yet have still not had one drillhole into them.
  • TAM has established farm-in jvs with some of the gold majors such as Newmont and Barrick, and appear to be centred within a “land grab” with Anglogold even pegging “postage stamp” blocks probably because Callie’s (>10moz resource) surface footprint was only about 40m by 20m.
  • Written by: Keith Goode
  • Monday, 08 July 2002

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