EL 29442 Finniss Valley Annual exploration report for the period 4 December 2012 to 3 December 2013

Abstract

EL 29442 was acquired owing to the perceived potential for iron mineralisation within the vicinity of the Giants Reef Fault. A detailed desktop study was undertaken to be used as a basis for subsequent planning. The study consisted of summarizing all available Open File reports pertaining to the area. These previous reports show that various commodities were sought, especially precious metals and base metals, and indicate that iron mineralisation was not a priority. However, references from diamond drilling logs document hematite, goethite and partially hematised dolostone, including zones of brecciation and cavities are present in the area. Results of the desktop study suggest potential exists for the discovery of economic iron mineralisation, consistent with Territory Resource's current objectives.