ML 27224 Annual Report for the period 26 September 2012 to 25 September 2013 Frances Creek

Abstract

This report details exploration activity conducted by Territory Iron Pty Ltd (TIPL) within tenement ML 27224 during the year ending 25th September 2013. A total of 5.8 line kilometres consisting of 245 gravity stations took place within tenement. This was part of a significant ground gravity geophysical survey programme at the Frances Creek Mine operation (that also included the northern area of the Frances Creek Project). An airborne electromagnetic survey was flown over part of the Frances Creek Project area (including ML 27224) to assist in mapping the structure of the host stratigraphy of the Frances Creek mineralisation. This survey was flown by GPX Surveys using their proprietary XTEM electromagnetic system during August and September 2013. The 2013 ground gravity survey was extensive (more than 10,000 survey stations collected), and the data is in the process of being passed onto the consultant, Hawke Geophysics Pty Ltd for analysis and interpretation. The Geophysics Report for the Frances Creek Project, which consists of both the ground gravity and Airborne EM completed during the reporting period, is therefore not complete and will be included in the 2013-2014 Annual report.