Combined Annual Report for the Eastern Project Area GR058 16 November 2018 to 15 November 2019

Abstract

Exploration Licences (ELs) in the Eastern Project Area (EPA), were acquired by Giants Reef Exploration Pty Ltd (Giants Reef) and Santexco Pty Ltd (Santexco) to search for Tennant Creek style iron oxide copper-gold deposits (IOCG). Giants Reef and Santexco are wholly owned subsidiaries of Emmerson Resources Ltd (Emmerson). This combined report records the exploration work completed on these ELs during the EPA Combined Reporting period from 16 November 2018 to the 15 November 2019. Exploration activities were limited to drilling at the Mauretania prospect. This drilling was aimed at further evaluation of the mineralisation discovered in 2014/15 and assessing work required to potentially calculate a resource and any extension to this known mineralisation. The work was conducted in EL 28761; Mauretania drilling consisted of 6 Diamond (DDH) Holes (MTDD003 - 008) for 1,075.92m and 2 Reverse Circulation (RC) holes (MTRC035 & 037) totalling 342m. No assays have been received yet for holes MTDD007 & 008, for the remaining holes significant intercepts are detailed below. The execution of a Sub-Audio Magnetics (SAM) survey at two areas within the EPA, namely at the Three-Thirty Area and the Mauretania Areas. Exploration in the remained of the EPA was limited to continuing assessment of the Kenex generated targets, following the continued success at Mauretania and Edna Beryl in MLC705 these targets will be reassessed and re ranked in 2020 for future exploration.