Partial relinquishment report on EL 27347 for period ending 3 November 2010

Abstract

During the first year of EL 27347, Tri-Star spent considerable time in investigating and re-analysing the seismic data, water bored and other geological and geophysical data over EL 27347 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 western-most central area of EL 27347 and therefore, Tri-Star has relinquished 45 sub-bocks, approximately 13 per cent (%) of EL 27347.