EL 28514 Annual report for the period 10 August 2011 to 9 August 2012

Abstract

The geology underlying EL 28514 is similar to the rocks hosting iron ore mineralisation at the Lewis and Boots prospects within the Koolpin Formation. The tenement covers the southern extension of the Koolpin Formation. As such, the strike continuation between these two areas, which incorporates EL 28514, is considered prospective. During the reporting period, Territory Resources Ltd carried out the following exploration activities on tenement EL 28514: Ground-based field reconnaissance visits along the Koolpin Formation by Territory Exploration staff; and Desktop targeting studies within the tenement area. Reconnaissance visits and geological mapping by Territory Resources Exploration staff were carried out over the tenement during the reporting period. Recent geophysics reports over the Frances Creek Project outlined the possibility of Fe mineralisation within the Koolpin Formation. Desktop studies were undertaken to look at the possibility of this occurring within EL 28514. Territory hopes to target these in next year's reporting period.