EL 24045 Frances Creek Annual Report for the period 19 August 2014 to 18 August 2015

Abstract

This report describes exploration activities conducted on Frances Creek tenement EL 24045 by operator Territory Iron Pty Ltd (subsidiary of Territory Resources Ltd) from 19th August 2014 to 18th August 2015. EL 24045 was originally 100% held by Title Holder Territory Resources Ltd and operated by Territory Iron Pty Ltd (which is a 100% subsidiary of Territory Resources). The Transfer of Title from Territory Resources Ltd to Territory Iron Pty Ltd occurred on the 18th June 2015, when the Instrument of Dealing - Transfer D93658 was approved by the Delegate of the Minister in accordance with Section 123 of the Minerals Title Act. Exploration activities during the reporting year included desktop studies to evaluate the iron ore and manganese potential and earthworks and rehabilitation of earlier drill sites.