Annual Report ML 22284 26 November 2014 to 25 November 2015

Abstract

The exploration conducted included continuing work on the interpretation and generation of drill targets from the detailed airborne magnetics survey completed in the previous reporting year. Rotary Air Blast (RAB) and Diamond (DDH) drilling was undertaken and completed. Drilling totalled 465 RAB holes for 20,064m and 5 DDH holes, totalling 766.8m. Results from the drilling was disappointing with a number of low level geochemical anomalies being identified from the RAB drilling, and were subsequently followed up with DDH drilling but again results were disappointing with no strong anomalism or economic intersection encountered. These disappointing results have downgraded the Billy Boy ML for potential economic discoveries and no further work has been scheduled. Emmerson also engaged Kenex Pty Ltd (Kenex) to construct a predictive model for the Tennant Creek Mineral Field and included ML 22284. This product was completed, but provided no further targeting for the subject title. Work was also completed on Matt Hill's PhD project, run by the Centre for Exploration Targeting (CET) out of the University of Western Australia (UWA), titled the 'Tennant Creek Project', the project is to build a 3D structural model of the entire Tennant Creek Mineral Field. Work conducted under this project involved field mapping, and software modelling of the observed and captured structural data. This product was completed, but provided no further targeting for the subject title.