Combined Annual Report for the Eastern Project Area GR058 16 November 2015 to 15 November 2016

Abstract

During the reporting period exploration activities were conducted under the Tennant Creek Joint Venture between Emmerson and Evolution, who has committed to spend $25M over 5 years. Exploration activities centred around drilling and was spread over the last part of 2015 and 2016. Drilling in late 2015 was the completion of drilling at a greenfields prospect called 'Anvil' and the completion of 2 diamond holes at Mauretania. Drilling over the 2016 field season was focused on the Susan target. A summary of the exploration is as follows; Exploration at Anvil consisted of 2 Reverse Circulation (RC) holes (AVRC001 - 002) totalling 346m; Exploration at Mauretania consisted of 2 DDH holes (MTDD001 - 002) totalling 559.1m (166m Pre-collar & 393.1m HQ); and Exploration at Susan was conducted in MLC 524 (within EL 27538) and therefore will not be reported here in detail but will be given as an overview. Exploration consisted of 11 RC holes (SSRC011 - 021) totalling 1,287m and 1 DDH hole (SSDD013) totalling 549.2 (222m pre-collar & 327.2m NQ). No significant intercepts were reported from this exploration although some anomalism was discovered and will be discussed in the report for those titles. 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. Emmerson is currently trialling the application of a new technology 'Archimedes' which is the application of an proprietary algorithm to reprocess and re-image the magnetics data, this is done by the Archimedes group. The aim is to define the existence of ironstones at depth, wether magnetite or hematite and a more accurate representation of the position of such an ironstone in 3D space. Emmerson is trialling this at two separate areas, one in the Northern Project Area (Gecko Block) and one in the Eastern Project Area (The Susan Block), more specifically EL's 27538, 9403, 10406, 30162, 30748, 10124, 10114, 30505 and 30584. The success of this technology may have large implications for targeting techniques in the entire Tennant Creek Mineral Field, but more specifically other areas of the NPA.