EL 24990 Beryl Annual Report for the period 24 July 2018 to 23 July 2019

Abstract

This report describes exploration activities conducted on Frances Creek tenement EL 24990 by operator Territory Iron Pty Ltd from 24th July 2018 to 23rd July 2019. The Territory Resources group, including Territory Iron Pty Ltd (former name of Yarram 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, alongside reviews of other commodities, due to various third party negotiations. The Frances Creek mine and tenure, including EL 24990 are in the process of being transferred to Trendsheer Pty Ltd, who needs time to assess the package and restart operations.