Frances Creek South EL 24045 Annual Report for the period 19 August 2011 to 18 August 2012

Abstract

During the reporting period, Territory Resources Ltd carried out the following exploration activities on tenement EL 24045: Reconnaissance visits along the Koolpin Formation within EL 24045; Obtained satellite imagery and DTM data for the entire Frances Creek Project area (including across EL 24045); and Desktop targeting studies. Reconnaissance visits by Territory Resources Exploration staff were carried out over the Koolpin Formation and Lower Wildman Formation during the reporting period, which includes EL 24045. Recent geophysics reports over the Frances Creek Project outlined the possibility of 'buried' Fe mineralisation within the Lower Wildman Formation. Desktop studies were undertaken to look at the possibility of this occurring within EL 24045. Territory hopes to target these in next year's reporting period. During the reporting period Territory Resources obtained satellite imagery over the entirety of the Frances Creek Project. This satellite imagery was acquired from GeoImage, which also included ortho-rectification and digital surface modelling for contouring.