Annual Report for ML's and MCN's covering the period for the year ended 31 December 2012

Abstract

Work over the last twelve months by G.E.Casey has been directed toward the raising of finance to install a treatment plant and re-open the mine. Additional work has been completed by Territory Resources over these areas in an effort to locate potential Iron/Manganese resources. Geological mapping was carried out in November 2012 over the 'Woodleigh MCN's/MLN's', a group of tenements located to the east of Territory Iron's Frances Creek Project. Territory Iron has the right to explore for and mine iron + manganese within this area; the purpose of this report is to establish any iron and manganese potential in the MLN's/MCN's. Only four tenements were shown to indicate any iron presence. These were MCN 1645/1646 and MLN 768/769. In both areas the stratigraphy is similar with goethite-quartz breccia (mostly <20cm thick) occuring parallel to 1.5m thick quartz veins. The breccias are discontinuous with iron percentages less than 50%. No significant Ironstone or manganese outcrops were recognised in any of the tenements.