Combined Annual Report for the Northern Project Area GR057/12 16 August 2016 to 15 August 2017

Abstract

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 limited due to focus elsewhere in the Tennant Creek Field which centred around the Mauretania and Edna Beryl 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 NPA. 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 continuing desktop data compilation and validation. Some of these generated targets were part of preliminary field checks during the last reporting period and limited work was conducted during this reporting period, any activities are recorded below where appropriate. 3 Reverse Circulation (RC) holes were drilled for 180m. The drill holes targeted and tested small ironstone outcrops discovered while field assessments of some Kenex generated targets, and were also highlighted in the Hematite fertility study being conducted by Emmerson.