EL 29564 Relinquishment report 4 March 2013 to 2 April 2015

Abstract

The activities on EL 29564 consisted of the following: An airborne electromagnetic survey was flown over part of the Frances Creek Project area (including part of EL 29564) to assist in mapping the structure of the host stratigraphy of the Frances Creek mineralisation. This survey was flown by GPX Surveys using their proprietary XTEM electromagnetic system during August and September 2013. Flying specifications include a nominal EM array height of 35m with a line spacing of 100m. Reconnaissance visits were conducted during the reporting period to the tenement. Iron enrichment was encountered in the Mount Bonnie Formation, Gerowie Tuff, and possibly the Koolpin Formation. A total of eight (8) rock-chip samples were collected. Territory Iron has evaluated the available data from earlier open file reports and also the geochemical and geophysical data and concludes that the area holds little value for iron mineralisation of economic value and has therefore decided to relinquish this tenement.