EL 24990 Beryl Annual Report for the period 24 July 2017 to 23 July 2018

Abstract

This report describes exploration activities conducted on Frances Creek tenement EL 24990 by operator Territory Iron Pty Ltd from 24 July 2017 to 23 July 2018. An extension//renewal of term for a two year period was lodged 12 July 2018 and remains under assessment. The Territory Resources group, including Territory Iron Pty Ltd as a subsidiary, was acquired by Gold Valley Holdings Pty Ltd in December 2017, with the corporate changeover being completed end of quarter 1, 2018. Since that time Territory Resources has continued with their ongoing commitments on EL 24990 whilst new management continues its review of assets. These reviews have expanded recently to reassess the potential for other commodities on EL 24990. Exploration activities during the reporting year included desktop studies of geological and geophysical data to further evaluate the iron ore and manganese potential. In particular, gold and cobalt hits on adjacent tenure from databases has piqued our interest.