EL 24990 Beryl Annual Report for the period 24 July 2013 to 23 July 2014

Abstract

This report describes exploration activities conducted on Frances Creek tenement EL 24990 by operator Territory Resources Ltd (subsidiary Territory Iron Pty Ltd) from 24thJuly 2013 to 23rd July 2014. Exploration activities during the reporting year included a drill programme comprising 7 RC drill holes, of which 134 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 includes tenement EL 24990. The geophysical surveys involved detailed regional ground gravity and airborne electromagnetic (EM) data acquisition. The regional ground gravity survey was conducted by Daishsat Geodetic Surveyors and comprised 1.2 line kilometres with a total of 52 gravity stations. The airborne electromagnetic survey was conducted by GPX Surveys using their proprietary XTEM electromagnetic system in order to better define the structure of the host stratigraphy for mineralisation. Flying specifications include a nominal EM array height of 35m with a line spacing of 100m.