Combined Annual Report for the Burnt Shirt Group MCC 211 and MLC 182 - MLC 184 and MLC 520 01 January 2016 to 31 December 2016

Abstract

The titles of the Burnt Shirt Group 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 titles during the period from 01 January 2016 to the 31 December 2016. Exploration activity was limited due to exploration focus elsewhere. Future exploration with focus on desktop and field visits to geologically assess a number of Kenex generated targets within the Burnt Shirt 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 and Edna Beryl in MLC 705 these targets will be reassessed and re ranked in 2017 for future exploration. Emmerson with JV partners Evolution and co funded by the NT department of Mines and Energy conducted a regional seismic survey through the Burnt Shirt Group area, but not directly through the titles. The survey was conducted over 60 km, 30 km north of the Tennant Creek Township and 30 km south of the township. The results are continuing to be assessed and interpreted with the aim of generating new areas for target generation and testing with implications for nearby titles, hence the Burnt Shirt Group titles. The Burnt Shirt Group covers the southern limb of a large syncline with numerous small historical workings. These historical workings coincide with a magnetically subdued area but strong gravity anomalism. The Burnt Shirt Group remains highly prospective especially with the knowledge learnt from exploration in the Gecko area over the past 4 years and the discovery of significant high grade gold and copper in magnetically subdued and structurally prospective environments, the Burnt Shirt Group warrants greater detailed analysis and possibly future HeliTEM and IP surveys to refine the target workspace and assess the prospectivity for the identification of economic mineralisation/deposits.