EL 24045 Annual Report for the period 19 August 2013 to 18 August 2014

Abstract

This report describes exploration activities conducted on Frances Creek tenement EL 24045 by operator Territory Resources Ltd (subsidiary Territory Iron Pty Ltd) from 19th August 2013 to 18th August 2014. Exploration activities during the reporting year included a drill programme comprising 9 RC drill holes for 648 m (of which 130 samples were submitted for assay), detailed geophysical surveys and minor reconnaissance field visits. In September and October 2013, Territory Iron Pty Ltd undertook a significant ground gravity geophysical survey programme for the Frances Creek Project area which included part of tenement EL 24045. The regional ground gravity survey was conducted by Daishsat Geodetic Surveyors and comprised 2.4 line kilometres for a total of 97 ground gravity stations.