Combined Annual Report for GR058 for the period 16 November 2014 to 15 November 2015

Abstract

Exploration Licences (ELs) in the Eastern Project Area (EPA), were acquired by Giants Reef Exploration Pty Ltd (Giants Reef) and Santexco Pty Ltd (Santexco) to search for Tennant Creek style iron oxide copper-gold deposits (IOCG). Giants Reef and Santexco are wholly owned subsidiaries of Emmerson Resources Ltd (Emmerson). This combined report records the exploration work completed on these ELs during the EPA Combined Reporting period from 16 November 2014 to the 15 November 2015. During the reporting period exploration activities were conducted under the Tennant Creek Joint Venture between Emmerson and Evolution. Emmerson continued its work from the Kenex Pty Ltd (Kenex) predictive modelling for the Tennant Creek Mineral Field and included all titles in the EPA. 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. The highly ranked targets were selected for field visits and desktop data compilation and validation. All this data was compiled and some rock chipping took place during site visits to compile a geological and geophysical assessment of the target which was then ranked for future exploration. Exploration commenced with field visits to geologically assess the generated targets within the title area, these targets exhibited geological prospective rocks and structures and during these field visits 98 rock chips samples were taken and anomalous results were returned. Geophysical modelling was also conducted on the main magnetic features of each target area, the magnetics were subtle and diffuse possible reflecting a partial magnetite body buried at depth with the possibility for a larger hematite component. All geoscientific assessment were positive therefore drilling was planned and executed over the area during the reporting period, focused on the four main target areas; Mauretania, Black Cat, Sunrise and Anvil.