Annual Report (including a bridging report component) to cover exploration activities over MCC's 167-169, 755-757 and MLC 558, 1 January 2001 to 20 April 2012 Comstock Group

Abstract

Mineral Claims 167 - 169, 755 - 757 and Mineral Lease 558, Comstock Leases, were acquired by Santexco Pty Ltd (Santexco) to search for Tennant Creek style iron oxide copper-gold deposits. This Annual (and bridging) report records the exploration work done on these group of tenure during the term 01 January 2001 to 20 April 2012. Emmerson conducted exploration over the Comstock Group which consisted of geophysical surveys, a detailed ground gravity survey in 2008 and RC drilling was conducted during June 2009 resulting in 2 RC holes for 352m, with disappointing results. As detailed above Emmerson will continue to conduct exploration in the Gecko Area to further develop the application, understanding and execution of targeting HeliTEM and/or VRMI anomalies. During 2012 Emmerson will conduct a detailed interpretation, analysis and modelling of the HeliTEM data in the Golden Forty block with the aim of identifying targets for drill testing, should results continue to be encouraging then Emmerson will expand its HeliTEM survey coverage which will include its most prospective anomalous areas, with the Comstock Area being a prime candidate due to its favourable structural position and presence of historical mines.