EL 23506 Frances Creek East Annual report for EL 23506 for the period 8 May 2010 to 7 May 2011

Abstract

The following Report describes work completed on the Frances Creek East tenement EL 23506 by Territory Resources Limited from 8th May 2010 to 7th May 2011. Territory Resources Limited has a Split Commodity Agreement to explore for and develop economical deposits of iron ore within the EL 23506 tenement from current tenement holder syndicate of Teelow, Orridge and Clarke. This Agreement dates from November 2006. The activities on EL 23506 during the reporting year consisted of; Ground gravity geophysical surveying: this tenement was part of a larger geophysical review that re-interpreted all the historical and recent geophysical survey data available in the Frances Creek region over Territory Resource Limited's tenement holdings; Geophysical targets for iron mineralization were identified within EL 23506 from review of the historical and newly acquired data; and, Limited geological reconnaissance activities and data review.