Combined Annual Report for the Golden Forty Group MCCs 66, 67, 925, 926 and ML 30620 and MLCs 4, 5, 32, 35 - 37, 53 - 56, 127, 129 - 144, 146 - 149, 343 - 355, 576, 577, 584 - 586, 598, 1 May 2015 to 31 April 2016

Abstract

The titles of the Golden Forty Group were acquired by Santexco Pty Ltd (Santexco) to search for Tennant Creek style iron oxide copper-gold deposits (IOCG). Santexco is a wholly owned subsidiary of Emmerson Resources Ltd (Emmerson). This combined report records the exploration work completed on these titles during the period from 1 May 2015 to the 31 April 2016. Exploration activity conducted was limited due to exploration focus elsewhere as described above. Emmerson conducted a number of field visits to geologically assess a number of Kenex generated targets within the Golden Forty Group area, these targets exhibited geological prospective rocks and structures but their overall ranking wasn't high enough for exploration to commence immediately. Following the recent exploration success at Mauretania in EL 28761 these targets will be reassessed and re ranked in 2016 for future exploration. Further to this, the success of the application of the Archimedes technology which has the aim of defining the existence of ironstones at depth, whether magnetite or hematite and a more accurate representation of the position of such an ironstone in 3D space, may have large implications for targeting techniques in the entire Tennant Creek Mineral Field, but more specifically the Golden Forty Group.