Tanami Gold NL advised that analytical results have been received for all 15 reverse circulation ("RC") drill holes completed at the Ripcord Gold Deposit ("Ripcord") during the 2022 field season on the Central Tanami Project Joint Venture ("CTPJV"). Results from Ripcord have returned a series of significant intercepts above 0.5 g/t gold, including 7.0 metres @ 3.21 g/t gold, 14.0 metres @ 1.81 g/t gold and 4.0 metres @ 3.79 g/t gold, confirming the presence of gold mineralisation along the northerly strike extensions. Results have also been received for the final two RC holes completed at the Western Dolerite Prospect ("Western Dolerite"). Final results for 5 diamond core drillholes ("DDH") from Jims Gold Deposit ("Jims") and 7 DDH holes from the Groundrush Gold Deposit ("Groundrush") that were drilled during the 2022 field season remain pending and are expected in the coming months. Preparation for activities in the 2023 field season have also commenced, with the CTPJV approaching suitable RC and DDH drill contractors to allow planned campaigns at Ripcord and Groundrush to resume immediately after the wet season. The CTPJV is a 50/50 Joint Venture between Tanami Gold and ASX listed Northern Star Resources Limited (ASX:NST) ("Northern Star"), which was established to advance exploration on the 2,211km2 tenement area in the Tanami Region held by the CTPJV. The tenement area encompasses highly prospective, underexplored geological sequences, in an area that is known to be well endowed with gold mineralisation. The objective of the CTPJV is to develop and mine Groundrush, and any other gold deposits delineated within the CTPJV tenements at the earliest time, commensurate with good mining practice and utilising mining infrastructure already in place on the project area. A campaign of RC drilling commenced at the Ripcord deposit during the 2022 field season with 15 of the planned 41 holes completed for an advance of 1,981 metres by the cessation of drilling in October 2022. This campaign was designed to infill historic drilling along the northerly strike extensions of the Ripcord deposit with view to expanding the projects mineral resources. The Ripcord deposit is located on Mining Lease ML22934, approximately 3 kilometres southeast of the 1Moz Groundrush deposit and approximately 40 km northeast of the Central Tanami Mill site.
The geology and deposit style at Ripcord appears to have similarities to the nearby Groundrush deposit, although it is yet to be fully determined if the host dolerite body is the same as that which hosts gold mineralisation at Groundrush. The host dolerite unit at Ripcord shows similar fractionation textures as observed at Groundrush, with fractionated quartz dolerite bounded on both sides by transitional quartz dolerite zones. Gold mineralisation is primarily hosted within the larger main dolerite body, with minor mineralisation extending in to the turbiditic sediments on the footwall contact. The main mineralised lodes consist of 1 - 6m wide zones of quartz veining that trend north to northwest and dip at 80° to the southwest. The strike of the mineralised zone is about 1200 metres and the known down dip extent from drill data is about 150 metres. The width of the zone of primary mineralisation is in the order of 40 metres.