Annual Technical Report MLN 1163 for the period 24th March 2016 to 23rd March 2017

Abstract

This report describes exploration activities conducted by Territory Resources Ltd (operator Territory Iron Pty Ltd) at the Rum Jungle (Yarram) Project area which includes tenement MLN 1163 for the period 24th March 2016 to 23rd March 2017. MLN 1163 is located about 8 km NW of Batchelor and 61 km SSE of Darwin in the Northern Territory and covers 126.1 hectares. The Yarram Project Area covers an approximate 2.1 km2 area over tenements ELR 125, ELR 146 and MLN 1163, and was originally subject to an agreement between Territory Iron Pty Ltd and previous tenement owners Compass Resources Ltd (90%) and Guardian Resources Ltd, (10%) whereby Territory Iron has the right, subject to certain royalty terms, to explore, mine and purchase iron ore from the title holders. The Mineral Lease is now held 100% by Northern Territories Resources Pty Ltd. Exploration activity within MLN 1163 for the reporting year involved an evaluation of rehabilitation of earlier drill sites, a weed spray programme, desktop studies and evaluation of earlier acquired geological, geochemical and geophysical data. The remediation for all earlier Territory Iron drill programmes is complete.