EL 24045 Frances Creek South Annual Report for the period 19 August 2012 to 18 August 2013

Abstract

The geology underlying EL 24045 is similar to the rocks hosting iron ore mineralisation at the Frances Creek mining area. The tenement covers the southern strike extension of the Lower Wildman Formation to the contact with the Alamber Springs Granite. As such, the strike continuation into EL 24045 is considered prospective. The Koolpin Formation to the west of the lower Wildman Formation is known to host iron and manganese mineralisation and is also considered prospective. During the reporting period, TIPL carried out the following exploration activities on tenement EL 24045: Reconnaissance visits along the Koolpin Formation within EL 24045; Design of ground gravity survey for next year's reporting period; and preliminary appraisal of available open file reports relating to the tenement for all minerals (TIPL has 100 percent rights). There is potential to explore for gold and base metals within the tenement, alongside iron and manganese which TIPL has focussed on previously. TIPL is planning to undertake exploration activities within EL 24045 based on this year's recommendations from field visits and desktop studies.