Annual Report on EL 23921 Mountt Goyder for the period 18 December 2004 to 17 December 2005

Abstract

This report details exploration activities conducted by Territory Iron Limited within the EL 23921 (Mt Goyder) area during the Year 2 ending 17th December 2005. Exploration activities during the reporting year comprised: high resolution, low altitude (80m line x 25m height) airborne magnetic and radiometric survey over most of the tenement area; processing of the data and; preliminary GIS compilation of the data and identification of magnetic features of interest. Six magnetic anomalies (A to F) were identified. Two lie adjacent to the northern margin of the Mt Bundey Granite in the north western part of the tenement, whilst the remaining are located on the northern and western margins of the Mt Goyder Syenite in the easternmost part of the tenement. All but one coincide with features delineated in the 1964 survey data, but are better resolved and in most cases show significant strike length extensions than that evident in the old data.