Combined Annual Report for the Northern Project Area GR057/12 16 August 2013 to 15 August 2014

Abstract

Exploration Licences (EL's) in the Northern Project Area (NPA) were acquired by Giants Reef Exploration Pty Ltd (Giants Reef) to search for Tennant Creek style iron oxide copper-gold deposits. Giants Reef is a wholly owned subsidiary of Emmerson Resources Ltd (Emmerson). This combined report records the exploration work completed on these EL's during the NPA Combined Reporting period from 16 August 2013 to the 15 August 2014. Exploration activities during the reporting period were very limited due to corporate reasons. Emmerson commenced the search for further financial support through a Joint Venture (JV) partnership, equity stake of sale of the project in May 2013. As a consequence of the time frames surrounding this search for further funding Emmerson significantly reduced its workforce and postponed on ground exploration activities until the funding could be secured. A significant amount of the reporting period fell within this search for funding period therefore activities were very limited. Emmerson completed a JV arrangement with Evolution Mining in late June. JV venture funding commenced in July and was limited to two projects in the Eastern Project Area (EPA) and Southern Project Area (SPA), no on-ground JV work has commenced in the NPA to date. The JV plans to conduct on-ground exploration activities in the NPA in the next reporting period. Work has been completed on Matt Hill's PhD project, run by the Centre for Exploration Targeting (CET) out of the University of Western Australia (UWA), titled the 'Tennant Creek Project', the project is to build a 4D structural model of the entire Tennant Creek Mineral Field. Work conducted under this project involved field mapping and software modelling of the observed and captured structural data, collection of samples for petrological and geo-chronological analysis to constrain the major deformation events and more particularly the timing of the mineralisation event/s. Matt presented his findings to Emmerson in Mid 2014 and a final report is due by end of 2014. The JV plans to conduct a trial High powered IP line in late 2014 to test the depth penetration and resolution in the NPA over the Troy Prospect, which will have implications for further IP work over ALL other prospects within the NPA. Following the completion of this trial and the evaluation of the results the JV will plan further work. The results will be detailed in the next reporting term report.