Frances Creek Project Annual report for the period 19 August 2008 to 18 August 2009 EL 24045

Abstract

This report details exploration activities for iron mineralisation conducted by Territory Iron Pty Ltd within EL 24045 (Frances Creek) during the year ended 18th August 2009. During the reporting period, Territory Iron carried out the following exploration activities on tenement EL 24045: Reconnaissance and geological mapping; A Frances Creek tenement-wide target generation exercise was undertaken; this included a re-assessment of radiometric and aeromagnetic data, as well as HyVista data. No strong iron ore targets were identified in the tenement; and A review of gold occurrences and mineralisation styles in the Frances Creek area was undertaken, and potential gold mineralisation targets identified. On the back of this exercise, a soil sampling program targeting gold mineralisation will be undertaken over the next reporting period.