Combined Annual Report for the Western Project Area GR056/09 16 May 2017 to 15 May 2018

Abstract

Exploration Licences (ELs) and Mineral Authorities (MAs) in the Western Project Area (WPA), were acquired by Giants Reef Exploration Pty Ltd (Giants Reef) and Santexco Pty Ltd to search for Tennant Creek style iron oxide copper-gold deposits. Giants Reef Exploration Pty Ltd (Giants Reef) and Santexco Pty Ltd are wholly owned subsidiaries of Emmerson Resources Ltd. This combined report records the exploration work completed on these ELs during the WPA Combined Reporting period from 16 May 2017 to the 15 May 2018. 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 5 years. Exploration in the Tennant Creek Mineral Field was Centred on two project areas, Edna Beryl and Gecko in Emmerson's Northern Project Area (NPA). Due to the focus here Emmerson was limited in its continuation of its assessment and planning for exploration activities on the targets generated from the Kenex predictive modelling work in the WPA. Following the recent exploration success at Edna Beryl in MLC 705 these targets will be reassessed and re ranked in 2018 and 2019 for future exploration.