Annual Report for EL 32717 - Year Ending 10 November 2022

Abstract

EL 32717 consists of 174 blocks which were granted on 11 November 2021 concurrently with EL 32716, EL 32718 and EL 32719, known informally within Tri-Star as the company's 'Central Australia Minerals Project'. The area is located approximately 200 kilometres southeast of Alice Springs along the Northern Territory/South Australian border, and partially overlaps the following pastoral leases: Umbeara, Mt Cavenagh. The Central Australia Minerals Project tenures are geologically located over the Musgrave Province, Amadeus, Pedirka and Eromanga basins and Basement. During the reporting period, Tri-Star completed the following activities on EL 32717: the reprocessing and interpretation of public domain magnetic and gravity data and remote sensing studies and planning; and a review a collation of all available open file bore reports and associated data including a complete interpretation in conjunction with geophysical and remote sensing interpretation. Tri-Star's current focus is on understanding the circular magnetic anomaly located in the east of the project area and the associated potential of discovering base and precious metals within the area. Of particular interest is the rocks of the Musgrave Province which are interpreted to occur under younger sedimentary and/or aeolian sand cover. The main result achieved from the activities completed during the reporting period is a more comprehensive understanding of the EL 32717 area. Moving forward into 2023, Tri-Star will continue to focus on better understanding the circular magnetic anomalies located in the east of the project area and their potential to discover base and precious metals. Exploration activities in the wider Central Australia Minerals Project area are currently planned to progress in 2023 towards a regional field prospecting and geophysics campaigns