Combined Annual Report for the Northern Project Area GR057/12 16 August 2017 to 15 August 2018

Abstract

Exploration Licences (EL's) in the Northern Project Area (NPA) were acquired by Giants Reef Exploration Pty Ltd (Giants Reef) to search for Tennant Creek style iron oxide copper-gold deposits. Giants Reef is a wholly owned subsidiary of Emmerson Resources Ltd (Emmerson). This combined report records the exploration work completed on these EL's during the NPA Combined Reporting period from 16 August 2018 to the 15 August 2019. During the reporting period exploration activities conducted were focused on the regional drill testing of targets generated from the airborne Electro Magnetics (AEM) survey completed in the previous reporting year. Drilling consisted of; 3 Reverse Circulation (RC) drill holes (EBWRC098 - 100) for 174m. Results were disappointing with now mineralisation and hence significant intersections discovered in these holes. Further exploration activities were limited due to focus elsewhere in the Tennant Creek Field which centred around the Mauretania and Edna Beryl areas. Edna Beryl is with Emmerson's NPA but is reported under MLC 705. Work conducted was the continuation of the integration of the AEM Survey with the Kenex generated targets. The Kenex 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. Emmerson commenced the re-engagement with Traditional owners of the Jasper Hills prospect, although it is within ML 30177 (North Star) it may extend out into the over arching EL 28776 following further works. The engagement is aimed at conducting heritage and cultural clearances to open the area up for further exploration and potential mining. This will be ongoing into the next reporting period. During the reporting period Emmerson and Evolution restructured the Tennant Creek JV, as a result a number of titles including some reported in this technical report have been transferred in full to Evolution Mining Tennant Creek, the titles transferred are listed below and therefore will no longer form part of this report. A separate amendment request has been submitted to amend the titles listed under combined reporting group GR057.