Combined annual report for the Northern Project Area 16 August 2008 to 15 August 2009

Abstract

Exploration Licences in the Northern Project Area were acquired by Giants Reef Exploration Pty Ltd, TC8 Pty Ltd and Santexco Pty Ltd to search for Tennant Creek style iron oxide copper-gold deposits. Giants Reef, TC8 and Santexco are wholly owned subsidiaries of Emmerson Resources Ltd. This combined report records the exploration work completed on these EL's during the NPA Combined Reporting period from 16 August 2008 to the 15 August 2009. During the reporting term Emmerson successfully built a team of highly qualified and skilled, staff and Geoscientists. Work commenced on the analysis of all historic drilling data, which included the validation and assessment of all historical drilling over Emmerson Tenure, including EL 9939 and then the compilation into a database. This work occurred over the entire reporting term and will continue into the next tenure term. A detailed Ground Gravity Survey, conducted by Fugro Ground Geophysics commenced 27 March 2008 and was completed late in 2008. This ground gravity survey was conducted over Emmerson's Tennant Creek tenure package and included the vast majority of the tenements in the Northern Project Area. The survey was conducted by three teams, each team consisted of a quad bike and rider equipped with a station meter. The three teams were supported by a Toyota Landcruiser 4WD Ute. The readings were taken on a 500m station spacing's, on lines 500m apart oriented North - South. Readings in areas requiring more detail were taken on 50 station spacing's on 100m spaced lines oriented North - South. A Detailed Airborne Magnetic, Radiometric and Digital Terrain Survey was conducted by UTS Geophysics and commenced 26 May 2008 and completed in late 2008. The survey included the vast majority of the tenements in the Northern Project Area. The survey was flown with a FU24 - 954 fixed wing survey aircraft on 75m line spacing's, with 750m tie line spacing's and a sensor height of 25m for a total Line KM of 38,278, with 7,000km's (approximately 28%) being in the NPA. Magnetic Data was captured using a Scintrex Cesium Vapour CS-2 total field magnetometer, Fluxgate three component vector magnetometer, RMS Aeromagnetic Automatic Digital Compensator (AADC II) and a Diurnal monitoring Magnetometer (Scintrex Envi8mag). Radiometric Data was captured using an Exploranium GR-820 gamma ray spectrometer and Exploranium gamma ray detectors. Review of historical exploration data and geophysical modelling of magnetic and gravity data captured during the 2008 field season commenced immediately on completion of the geophysical surveys. The aim of this review of historical data and the analysis with the newly captured data is to generate drill targets for testing during late 2009 and the 2010 field season. The commencement and completion of the Detailed Ground Gravity Survey has provided Emmerson's Geoscience team with data never captured before in the field. Analysis, assessment and interpretation of this data commenced during the reporting period and will continue during the next reporting period. Combined with the commencement and completion of a Detailed Airborne Magnetic, Radiometric and Digital Terrain Survey providing even more data for analysis, assessment and interpretation, Emmerson now commands a strong position for success in exploration of the Tennant Creek Mineral Field and more specifically the Northern Project Area. Targets identified from the preliminary analysis is detailed for each individual tenement.