EL 26535, EL 26539, EL 26556 and EL 26557 Carpentaria Project Group technical report for the period ending 31 August 2012

Abstract

During the previous reporting period, Sinosteel initiated targeting and interpretation of a VTEM (versatile time-domain electromagnetic) helicopter electromagnetic (EM) survey, which was flown over portions of the project area during 2010. Regional 1:50,000 scale maps of the VTEM geology, airborne magnetics and radiometrics and satellite data were generated to assist targeting. Preliminary Mn and Cu exploration targets were identified for ground truthing. A site visit was planned to use a helicopter to check VTEM anomalies in the field. This work had to be postponed due to heavier than usual rains that inundated most of the tighter areas until late July 2011. The helicopter reconnaissance of preliminary exploration targets was completed in the current reporting period. Selected samples were sent for geochemical analysis. A drilling program was planned and the necessary documents were submitted to the NTGS for Authorisation of an MMP for exploration operations. The MMP was approved and a drilling program was started late in the current reporting period. The results of the drill program will be reported in the next Annual Technical Report. Depending on results of the drill program and ongoing analysis of geological and geophysical datasets, Sinosteel will plan another drill program to follow-up existing drilling results and/or drill test newly identified exploration targets. It is anticipated that significant tenement area will be relinquished in the next reporting period.