Combined Annual Technical Report MA 389 and EL 10137 for the period 25 February 2014 to 24 February 2015

Abstract

This report describes exploration activities conducted on Frances Creek tenements MA 389 and EL 10137 by operator Territory Iron Pty Ltd from the 25th February 2014 to 24th February 2015. During the reporting period, Territory Iron Pty Ltd drilled a total of 14 RC drill holes for a total of 1070 m for EL 10137 and MA 389. Of these, 13 RC holes were drilled on EL 10137 (993 m) and 1 RC drill hole on MA 389 (77 m). Two hundred and sixteen samples were selected for geochemical analysis (201 for EL 10137 and 15 for MA 389). Overall, the drill results were not encouraging, with siltstone and shale been intersected down hole.