Annual report for EL 23791 Mt Bundey, period 21 January 2007 to 20 January 2008

Abstract

This report details exploration activities conducted by Territory Iron Limited for iron ore mineralisation within EL 23791 during Year 4 ending 20th January 2008. Work is continuing to assess the prospectivity of this tenement through reconnaissance and evaluation of existing data. A ground scintillometer survey was undertaken to test the targets identified by the 2006 airborne radiometric survey. None of the targets within EL 23791 are considered worth follow-up. Field exploration activities proposed for Year 4 aims to complete testing of the remaining anomalies within the tenement and will comprise: - mapping, soil sampling of anomalies; - 600m of scout RC drilling, and if appropriate; - 500m of follow-up RC drilling of a number of the more promising anomalies.