Annual Technical Report EL 23824 for the period 9th February 2016 to 8th February 2017

Abstract

This report describes exploration activities conducted on Frances Creek tenement EL 23824 by operator Territory Iron Pty Ltd from the 9th February 2016 to 8th February 2017. EL 23824 is held as a joint-venture tenement, with Territory Resources Ltd (51%) as majority holder (Territory Iron Pty Ltd as operator and tenement manager) and Outback Metals Pty Ltd (49%) holding a minority interest. Softwood Plantations Pty Ltd transferred the title (49% holding) to Outback Metals Pty Ltd in 2016. Exploration activity within EL 23824 for the reporting year involved field visits by geological personnel, desktop studies and evaluation of earlier acquired data to assess the economic potential of the tenement.