EL 29862 Frances Creek Annual Report for the period 26 November 2015 to 25 November 2016

Abstract

This report describes exploration activities conducted on Frances Creek tenement EL 29862 by operator Territory Iron Pty Ltd (100% subsidiary of Territory Resources Ltd) from 26th November 2015 to 25th November 2016. EL 29862 was granted on the 26th November 2013 and replaced withdrawn Mining Lease Applications ML 27155 (lodged 30th January 2009) and ML 28573 (20th January 2011). The exploration licence has been granted for a term of six years and will expire on the 25th November 2019. A reduction of tenure for EL 29862 was approved on the 4th December 2015 and 10 blocks were relinquished with 11 blocks retained. A Partial Relinquishment Report was submitted to the Department of Primary Industry and Resources (former Department of Mines and Energy) in February 2016. Exploration activities during the reporting period for EL 29862 involved a review of historical information and reconnaissance field work during a site wide evaluation of earlier drill holes for the Frances Creek Exploration project area as a whole.