Frances Creek EL 22270 Annual report for the period 10 July 2004 to 9 July 2005

Abstract

No field exploration activities were conducted by Territory Iron Pty Ltd within EL 10137 (Frances Creek) during the year ended 9th July 2005. This report forms part of an annual report submitted by Arafura Resources NL, holders of the tenement, which is being explored by Territory Iron under a joint venture agreement with Arafura relating to iron ore mineralisation only. Work was confined to office studies (literature research, and technical data reviews) and to miscellaneous site visits. Total expenditure during the reporting year was $12,504. It is planned to conduct airborne high resolution magnetic survey over the tenement as well as limited (scout) RAB drilling of buried ironstone targets along the Thelma 1 to Thelma 2 line of iron mineralisation. Estimated cost for this work is $8000.