Annual Report ML 30176 15 April 2014 to 14 April 2015

Abstract

During the reporting period no exploration activities were conducted due to corporate reasons, which entailed the seeking of a Joint Venture (JV) Partner or further funds to continue exploration in the Tennant Creek area and more specifically ML 30176. Emmerson succeeded in securing Evolution as a Joint Venture Partner who has committed to spend $25M over the next 5 years. Following the formation of this JV, Emmerson has commenced exploration activities and will evaluate the prospectivity and then rank work for the title as per its prospectivity in comparison to the other 476 titles Emmerson explores in Tennant Creek. The Queen of Sheba title contains the historical Queen of Sheba and Evening Star historical mines, but more importantly clear anomalous mineralisation that warrants further exploration and follow-up. In particular the results from diamond hole, QSDD-008, which targeted the northern 'ear' ironstone within the Southern Queen Shear and intersected talc-dolomite-chlorite in the Southern Queen Shear from 357-378m, with minor magnetite and pyrite, represents high up in the mineralisation system and would normally not carry much mineralisation. Therefore the intersection of 8m @ 0.53% Cu from 244m in sheared sediment encourages Emmerson that economic mineralisation may sit at depth. Emmerson considers the title to be of high value for its identified anomalous zones and further exploration potential, but future exploration will be dependent on future access granted by Traditional Owners. Currently the group has a number of excluded areas, but Emmerson will continue to operate with best practices within the areas we can work and continue consultation and dialogue with the Traditional Owners with the aim of gaining full access in the future.