Combined Annual Report GR125/09 for the period 17 August 2013 to 30 November 2014 ML 24727, ML 25087, ML 25088, ML 25152, ML 25396, ML 26222, ML 25529, ML 27224, ML 27225, ML 27228 Frances Creek Mining Tenements

Abstract

This report describes exploration activities conducted by title holder Territory Iron Pty Ltd on the Frances Creek amalgamated technical reporting group GR125/09 (ML 24727, ML 25087, ML 25088, ML 25152, ML 25396, ML 26222, ML 25529, ML 27224, ML 27225 and ML 27228). The reporting period for ML 24727, ML 25087, ML 25088, ML 25152, ML 25396, ML 26222 and ML 25529 is the 1st December 2013 to the 30th November 2014. New additions to the amalgamated reporting group include ML 27224 and ML 27228 (reporting period the 26th September 2013 to the 30th November 2014 and ML 27225, reporting period from the 17th August to the 30th November 2014. Exploration activities during the reporting period(s) for GR125 include the drilling of 225 RC drill holes and 3 diamond drill holes for a total of 16768 metres. From the drilling, 5347 samples were submitted for geochemical analysis. Late 2013, Territory Iron Pty Ltd undertook significant geophysical surveys within the Frances Creek project area. This included a ground gravity geophysical survey in September to October 2013 and an electromagnetic survey (EM) during August to September 2013. The mineral leases with reporting dates applicable to the geophysical surveys are as follows: Ground gravity survey - ML 27224, ML 27225 and ML 27228; EM survey - ML 27228. The regional ground gravity survey was conducted by Daishsat Geodetic Surveyors and the airborne electromagnetic survey was conducted by GPX Surveys using their proprietary XTEM electromagnetic system. The surveys were conducted in order to better define the structure of the host stratigraphy for mineralisation.