Frances Creek Annual report for the period 4 March 2009 to 3 March 2010 EL 26880

Abstract

This report details exploration activity conducted by Territory Iron Pty Ltd on the Frances Creek Tenement EL 26880 during the year ending 3 March 2010. This tenement was acquired in March 2009 to allow an assessment to be made of the footwall Mundogie Sandstone sequence below the mineralised Wild Formation. During the reporting period, Territory Iron undertook the following work: A desktop review of the geology, using existing aeromagnetic survey data and satellite photography to identify local structure with potential to host mineralisation, ground truthing over the area to confirm 1:100,000 Pine Creek sheet NTGS geological mapping. No iron mineralisation was observed as part of the desktop study or during field evaluation. This tenement will be relinquished in the near future. Total expenditure for the tenement during the reporting period was $3,500.