Combined Annual Report for the Eastern Project Area GR058 16 November 2016 to 15 November 2017

Abstract

Exploration Licences (EL's) 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 EL's during the EPA Combined Reporting period from 16 November 2016 to the 15 November 2017. 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 activities were limited to drilling at the Black Snake prospect. This drilling was aimed at an evaluation of a potential resource for mining purposes and any extension to this known mineralisation. The work was conducted in MLC 53 contained with EL 27537, as such the work will be reported in the Golden Forty Group Combined Report - GR417; Black Snake drilling consisted of 3 Reverse Circulation (RC) holes (BSRC017 - 019) totalling 105m. No significant intercepts were reported from this exploration although some anomalism was discovered and will be discussed in the GR417 report for the Golden Forty Group, which incorporates MLC 53 (Black Snake). 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 unable to continue its assessment and planning for exploration activities on the targets generated from the Kenex predictive modelling work in the EPA. Following the recent exploration success at Edna Beryl in MLC 705 these targets will be reassessed and re ranked in 2018 for future exploration.