Frances Creek ML 25152 annual report for the period 24 April 2007 to 23 April 2008

Abstract

No ground-based field work was undertaken within the tenement area. A multispectral aerial survey was conducted over the entire Frances Creek to Mary River tenement holding. A helicopter electromagnetic survey was also flown over the Frances Creek leases. Both these included the area covered by ML25152. This report details exploration activities for iron mineralisation conducted by Territory Resources Ltd. within ML25152 (Frances Creek) during the year ended 23rd April 2008. ML 25152 is located in part within the old Frances Creek iron ore mining district from which about six million tonnes was produced during the period 1967 to 1974. The mining district lies 23km north of the township of Pine Creek which is located on the Stuart Highway about 220km south of Darwin. Access from Pine Creek is along the sealed Kakadu Highway for 2km and then along the graded Frances Creek road for 23km to the Frances Creek iron ore mine site area. ML 25152 is located immediately west of the Frances Creek Helene 11 orebody, and is partially covered by the Frances Creek dams.