EL 26535, EL 26539, EL 26556 and EL 26557 Carpentaria Project Group technical report for the period ending 31 August 2013

Abstract

During this reporting period, Sinosteel Australia completed the initial RC drilling program at the Project, following the Authorisation given late in the previous reporting period. 40 drill holes were completed for a total of 2,555 downhole metres. Selected RC drill samples were sent for geochemical analysis. A report on the drill program by CSA Global and subsequent rehabilitation works, and results of geochemical assays are appended to this report. The results from the drill program were not positive. However, Sinosteel Australia has decided not to relinquish any tenement area for the next reporting period. The company believes that not enough exploration work has been completed to date to confirm a lack of economic mineralisation in the area. Sinosteel Australia plan to review the existing exploration targeting work that has been completed, generate new targets for drill testing and plan new drill programs to test targets.