Combined Annual Report for the Mount Samuel Group 3 GR466 MCC 334, MCC 344, MCC 364, MCC 365, MCC 366, MLC 49, MLC 527 and MLC 645 1 August 2016 to 31 July 2017

Abstract

The titles of the Mount Samuel Group 3 were acquired by Santexco Pty Ltd (Santexco) and Giants Reef Exploration Pty Ltd (Giants Reef) to search for Tennant Creek style iron oxide copper-gold deposits (IOCG). Santexco and Giants Reef are wholly owned subsidiaries of Emmerson Resources Ltd (Emmerson). This combined report records the exploration work completed on these titles during the period from 01 August 2016 to the 31 July 2017. Exploration activity was limited due to exploration focus elsewhere namely at Edna Beryl and Retsina in Emmerson's Northern Project Area (NPA). Work proposed and yet to commence will be the continuation of assessment of the Kenex generated targets within the Mt Samuel Group 3 area. These targets exhibited geological prospective rocks and structures with an overall ranking usually high enough for exploration to commence immediately, but due to the sacred sites no on-ground exploration work has been able to commence. Following the recent exploration success at Mauretania in EL 28761 and Edna Beryl in MLC 705 these targets will be reassessed and re ranked in 2018 for future exploration.