Combined Annual Report for the Eldorado Group MCC's 9 and 203 and MLC's 15, 16, 50, 51, 498, 499, 500 - 505, 518, 523, 528, 529, 535, 546, 581 - 583, 644 and 683 GR415 1 April 2016 to 31 March 2017

Abstract

The titles of the Eldorado Group 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). Exploration activity was limited due to exploration focus elsewhere, future work will be around the continuing assessment, both desktop and field visits to geologically assess a number of Kenex generated targets within the Eldorado Group area, refer to figure 3. These targets exhibited geological prospective rocks and structures but their overall ranking wasn't high enough for exploration to commence immediately. 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 2017 for future exploration.