Partial relinquishment report on EL 27348 for period ending 3 November 2010

Abstract

During the first year of EL 27348, Tri-Star spent considerable time in investigating and re-analysing the seismic data, water bored and other geological and geophysical data over EL 273348 and the surrounding tenures in the Project Area. The data was highly promising and has therefore caused Tri-Star to revise and improve the original drilling program for the Project Area, to incorporate an ironstone deposit. The ironstone formation, located in between the De Souza and Crown Point Formation, is believed to be temporarily contemporaneous with the deeper Permian Purni coats to the North-East, which are also of great interest to Tri-Star. Office-based studies, however, have determined that it is unlikely that the coal seams extend to the southern area of EL 27348 and therefore, Tri-Star has relinquished 298 sub-bocks, approximately 90 per cent (%) of the project area. No field activities were conducted over the relinquished area during the first year of the licence.