Annual Report for MLC 524 1 January 2001 to 31 December 2015

Abstract

During the reporting period limited 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 MLC 524. 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 commenced a review of historical exploration activities with the aim of assessing the prospectivity and incorporating with the results of the Kenex Project and if positive generating drill targets. Emmerson engaged with Kenex Pty Ltd (Kenex) predictive modelling for the Tennant Creek Mineral Field and included MLC 524. This product is a statistical predictive tool for predicting the possible prospective sites for Tennant Creek style mineralisation. The model produced many target areas which contain all or some of the essential criteria for possible economic mineralisation in the Tennant Creek Mineral Field. Emmerson has assessed the generated targets and ranked them in order of potential prospectivity, with the Susan area located within MLC 524 being highlighted as prospective.