Annual and final report for the period ending 1 August 2012, EL 26534 Helen Springs Project

Abstract

An RC drilling program was completed during the reporting period, with 17 out of 20 planned drill holes completed. No significant mineralisation was intersected in the drilling. Minor veinlets of Mn mineralisation were intersected between 39-40m in drill hole HSRC006, which returned assays of 0.78% Mn. A saprock-saprolite interface within mafics between 44-45m in drill hole HSRC016 also had weak Mn mineralisation, which returned assays 1.78% Mn and 345ppm Cu. Some circular magnetic bodies in the younger volcanic sequence were also drill tested for carbonatite intrusions hosting REE or coper mineralisation. These magnetic bodies were found to be caused by basalt lavas. Sinosteel Australia is relinquishing the tenement in its entirety, due to poor drilling results.