ELR 125, MCN 984, MLN 1157, MLN 1158, MLN 1159, MLN 1161 Mount Fitch Annual report from 23 August 2014 to 22 August 2015

Abstract

We have been incorporating all of the geophysical survey data into a broad regional data set to model suitable targets for exploration drilling. Drill targeting and IP survey lines were planned. At time of writing this report a ground IP survey was underway on ELR 125. Within the reporting period, Territory Iron Pty Ltd drilled a total of 13 RC drill holes for a total of 303 m. Two-hundred and sixty-two samples were selected for geochemical analysis. During the drill programme, acicular (at the time, thought to be potentially asbestiform) minerals were hand identified in drill holes throughout the Rum Jungle Project Area. 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 mainly within MLN 1163 identified the minerals as talc.