Annual Technical Report MLN 1163 for the period 24 March 2014 to 23 March 2015

Abstract

This report describes exploration activities conducted by operator Territory Iron Pty Ltd at the Rum Jungle (Yarram) Project area which is partially located within MLN 1163 for the period 24th March 2014 to 23rd March 2015. Within the reporting period, Territory Iron Pty Ltd drilled a total of 69 RC drill holes for a total of 3597 m. Three thousand, one hundred and twenty-three samples were selected for geochemical analysis. During the drill programme, acicular (at the time, thought to be potentially asbestiform) minerals were hand identified in twenty-five drill holes. The minerals had a acicular habit which alerted the geologist to the potential asbestiform character. A Territory Iron Pty Ltd Asbestos Management Plan was immediately drafted and adhered to by all personnel associated with the drill programme; however, independent mineral tests identified the minerals as talc. Selected samples from the drill spoils were submitted to two laboratories in order to determine the nature and mineral chemistry of the samples. Samples were sent to AMDEL laboratories and to a specialist Environmental testing laboratory, AEC Environmental. The results from the analyses proved negative for asbestos and instead indicate the presence of coarse, white fibrous bundles of talc with trace tremolite.