Annual Technical Report EL 23824 Frances Creek for 9 February 2014 to 8 February 2015

Abstract

This report describes exploration activities conducted on Frances Creek tenement EL 23824 by operator Territory Iron Pty Ltd from the 9th February 2014 to 8th February 2015. EL 23824 is held as a joint-venture tenement, with Territory Iron Pty Ltd (51%) as majority holder and tenement manager, and Softwood Plantations Pty Ltd (49%) holding a minority interest. Exploration activities during the reporting period for EL 23824 involved numerous field visits, rock chip sampling for geochemical analysis and geological mapping of the Lewis prospect with consultant Dr Richard Russell. Iron-rich outcropping rocks are hosted by siltstones of the Koolpin Formation (South Alligator Group) and consist of narrow goethite/siltstone breccias with minor hematite. The Lewis prospect area is not considered to have economic potential.