EL 10312 Hopeful Final Report 9 October 2003 to 16 November 2011

Abstract

This Final Report records exploration work done on EL 10312 between 09 October 2003 and 16 November 2011. Emmerson's exploration activities are currently focused on 'proof of concept' drilling of identified HeliTEM anomalies, further integration of the HeliTEM data, VRMI, geological, historical, geochemical and other relevant data sets to further define targets for drill testing. Focus over the next reporting period will be on the areas were HeliTEM surveys have already been conducted, given success in these areas then HeliTEM will be expanded to other tenements, with the aim of generating quality targets for drill testing, this will occur during the 2012 field season and further into the future. As EL 10312 has expired all future exploration will be conducted under EL 28761. Although HeliTEM is yet to be flown over EL 10312, the expansion of HeliTEM surveys is likely to include the licence. Emmerson considers EL 10312 to remain prospective until it can be fully assessed by HeliTEM, once the HeliTEM data and interpretations have been proved and made applicable across the Tennant Creek Mineral Field. EL 10312 expired on 16 November 2011.