Combined annual report for the Eastern Project Area 16 November 2008 to 15 November 2009

Abstract

Exploration Licences (ELs) and Substitute Exploration Licences (SELs) in the EPA, were acquired by Giants Reef Exploration Pty Ltd (Giants Reef) and Santexco Pty Ltd (Santexco) to search for Tennant Creek style iron oxide copper-gold deposits (IOCG). Giants Reef and Santexco are wholly owned subsidiaries of Emmerson Resources Ltd (Emmerson). This combined report records the exploration work completed on these ELs during the EPA Combined Reporting period from 16 November 2008 to the 15 November 2009. ELs in the EPA were explored by Emmerson Resources Ltd (Parent company of Giants Reef and Santexco) for Tennant Creek style IOCG deposits. Exploration work reported was conducted in the EPA during 16 November 2008 and 15 November 2009. This exploration work included Rotary Air Blast (RAB) and Reverse Circulation (RC) drilling focused at the following prospects; Golden Kangaroo West (MLC 577), Golden Forty Near Mine (MLC 36, 136 and 584 - 586), Golden Forty Regional (MLC 35), The Flag (SEL 25912), C29 (EL 10370), Banker (MCC 757), Brumby (EL 10370). Emmerson engaged 'Centre for Exploration Targeting' (CET), School of Earth and Geographical Sciences, FNAS, based at the University of Western Australia (UWA) to undertake some focused geological studies of the Tennant Creek Mineral Field, in collaboration with geologist from Emmerson, through a 3 phased program. The Primary focus of the these programs is to undertake structural analysis at a deposit to camp scale of the Tennant Creek Mineral Field. All tenure in the EPA was included in this study which commenced in March 2008 and was completed during the reporting period. Exploration work was also conducted on Mineral Leases and Claims held by Emmerson that fall within the EPA boundary and may be covered by a variety of Exploration Licence tenure, including, granted Emmerson EL's, Emmerson Applications EL's (EL Application 27537; EL Application 27538) or EL's (granted and/or applications) held by other companies. Although this exploration is not strictly reportable, it has been included in this report to demonstrate Emmerson's commitment to a holistic exploration approach to both define economic resources but to also generate greater understanding of the geology and structures of the EPA.