Annual Report for EL 31249 Prosperity 16 May 2017 to 1 June 2018

Abstract

EL 31249 was acquired by Giants Reef Exploration Pty Ltd (Giants Reef) to search for Tennant Creek style iron oxide copper-gold deposits. Giants Reef Exploration Pty Ltd (Giants Reef) is a wholly owned subsidiary of Emmerson Resources Ltd. This combined report records the exploration work completed on the title during the reporting period from 16 May 2017 to the 1 June 2018. During the reporting period exploration activities were conducted under the Tennant Creek Joint Venture (TCJV) between Emmerson and Evolution, who committed to spend $25M over 5 years. The TCJV has now ceased and EL 31249 will be transferred to Evolution Mining in the next reporting year. 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 EL 31249. 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