ML 27808 Annual Report for the period 9 February 2013 to 8 February 2014 Frances Creek

Abstract

This report details exploration activity conducted by Territory Resources Ltd ('Territory') within tenement ML 27808 during the year ending 8th February 2014. Significant work was undertaken during the reporting year within ML 27808 targeting Frances Creek style hydrothermal hematite mineralisation and comprised: A total of 6.8 line kilometres consisting of 286 gravity stations took place within the tenement. This was part of a significant ground gravity geophysical survey programme at the Frances Creek Project. An airborne electromagnetic survey was flown over part of the Frances Creek Project area (including ML 27808) 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. Four (4) Diamond drill holes were drilled specifically targeting the hematite-goethite iron ore mineralisation at the Saddles Extended prospect, for 293.5 metres.