Combined Annual Report for the Southern Project Area GR054 16 February 2016 to 15 February 2017

Abstract

This combined report records the exploration work completed on these tenements during the SPA Combined Reporting period from 16 February 2016 to the 15 February 2017. 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 the next 5 years. Exploration activities were very limited due to focus elsewhere in the Tennant Creek Field which centred around the Edna Beryl and Retsina Areas. Emmerson continued its work from the Kenex Pty Ltd (Kenex) predictive modelling for the Tennant Creek Mineral Field and included all titles in the SPA. This product is a statistical predictive tool for predicting the possible prospective sites for Tennant Creek style mineralisation. The model produced many target areas which contain all or some of the essential criteria for possible economic mineralisation in the Tennant Creek Mineral Field. Emmerson has assessed the generated targets and ranked them in order of potential prospectivity. The highly ranked targets were selected for field visits and/or desktop data compilation and validation.